Core Natural Resources (NYSE:CNR) Trading Down 5.1% - Here's What Happened

Key Points

• Core Natural Resources shares fell 5.1% to about $97.46 in mid-day trading, with volume down 71% from the average daily level.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $115 price target, despite UBS downgrading the stock to neutral.
• The company recently exceeded quarterly earnings expectations, reporting $2.51 in EPS versus a $0.60 consensus estimate, and declared a quarterly dividend of $0.10 per share.

Core Natural Resources, Inc. (NYSE:CNR - Get Free Report) shares traded down 5.1% during mid-day trading on Thursday . The stock traded as low as $97.67 and last traded at $97.4550. Approximately 225,911 shares changed hands during trading, a decline of 71% from the average daily volume of 767,825 shares. The stock had previously closed at $102.66.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNR. Zacks Research upgraded shares of Core Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. UBS Group lowered shares of Core Natural Resources from a "buy" rating to a "neutral" rating and increased their price objective for the company from $101.00 to $105.00 in a research report on Tuesday, August 18th. Wall Street Zen upgraded shares of Core Natural Resources from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of Core Natural Resources from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $115.00.

Core Natural Resources Stock Down 5.1%

The company's 50 day moving average is $87.57 and its 200 day moving average is $90.18. The company has a market cap of $4.84 billion, a PE ratio of 48.97 and a beta of 0.17. The company has a current ratio of 1.83, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued its earnings results on Thursday, August 6th. The energy company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $0.60 by $1.91. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.11 billion. Core Natural Resources had a return on equity of 0.03% and a net margin of 2.34%. As a group, analysts predict that Core Natural Resources, Inc. will post 2.96 earnings per share for the current fiscal year.

Core Natural Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Monday, August 31st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, August 31st. Core Natural Resources's dividend payout ratio is currently 20.10%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Triumph Capital Management acquired a new position in Core Natural Resources during the third quarter valued at $25,000. First Horizon Corp grew its position in Core Natural Resources by 97.6% during the 1st quarter. First Horizon Corp now owns 334 shares of the energy company's stock worth $35,000 after purchasing an additional 165 shares during the period. CWM LLC grew its position in Core Natural Resources by 45.7% during the 4th quarter. CWM LLC now owns 338 shares of the energy company's stock worth $30,000 after purchasing an additional 106 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Core Natural Resources by 84.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the energy company's stock valued at $29,000 after buying an additional 191 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Core Natural Resources in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 86.54% of the company's stock.

Core Natural Resources Company 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. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.

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