Zurcher Kantonalbank Zurich Cantonalbank Makes New Investment in Core Natural Resources, Inc. (NYSE:CNR)

Key Points

• Zurcher Kantonalbank acquired 9,764 shares of Core Natural Resources, valued at approximately $753,000, as part of a new position in the company.
• Core Natural Resources recently reported a quarterly earnings per share (EPS) of ($0.70), significantly missing the consensus estimate of $1.31, despite revenues totaling $1.10 billion.
• The company cut its dividend to $0.10 per share, which reflects a yield of 57.0%, with a low payout ratio of 8.26%.

Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,764 shares of the energy company's stock, valued at approximately $753,000.

Several other large investors have also modified their holdings of the stock. Versant Capital Management Inc acquired a new stake in shares of Core Natural Resources in the first quarter worth $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Core Natural Resources in the first quarter worth $29,000. Farther Finance Advisors LLC acquired a new stake in shares of Core Natural Resources in the first quarter worth $30,000. Whipplewood Advisors LLC purchased a new stake in shares of Core Natural Resources during the first quarter worth $31,000. Finally, TruNorth Capital Management LLC acquired a new stake in Core Natural Resources during the first quarter valued at $33,000. 86.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CNR. UBS Group upped their target price on Core Natural Resources from $78.00 to $86.00 and gave the stock a "buy" rating in a research report on Friday. Jefferies Financial Group restated a "hold" rating and issued a $78.00 price objective (up previously from $67.00) on shares of Core Natural Resources in a report on Tuesday. B. Riley cut their price objective on shares of Core Natural Resources from $112.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. Finally, Benchmark dropped their price target on shares of Core Natural Resources from $112.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $105.80.

Core Natural Resources Stock Performance

CNR traded up $0.21 on Friday, hitting $76.14. The company had a trading volume of 747,755 shares, compared to its average volume of 845,461. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 34.93 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.34. The company's fifty day moving average price is $72.66 and its 200 day moving average price is $78.12. Core Natural Resources, Inc. has a 1-year low of $58.19 and a 1-year high of $134.59.

Core Natural Resources (NYSE:CNR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The energy company reported ($0.70) EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($2.01). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.04 billion. Core Natural Resources had a net margin of 0.63% and a return on equity of 3.01%. Equities analysts predict that Core Natural Resources, Inc. will post 11.4 earnings per share for the current fiscal year.

Core Natural Resources Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 57.0%. Core Natural Resources's payout ratio is currently 18.35%.

Core Natural Resources Profile

Core Natural Resources, Inc, together with its subsidiaries, produces and sells bituminous coal in the United States and internationally. It operates through two segments, Pennsylvania Mining Complex (PAMC) and CONSOL Marine Terminal. The company's PAMC segment engages in the mining, preparing, and marketing of bituminous coal to power generators, industrial end-users, and metallurgical end-users.