Core Natural Resources (NYSE:CNR) Trading 7.3% Higher on Analyst Upgrade

Core Natural Resources, Inc. (NYSE:CNR)’s share price traded up 7.3% during mid-day trading on Tuesday after UBS Group raised their price target on the stock from $109.00 to $115.00. UBS Group currently has a buy rating on the stock. Core Natural Resources traded as high as $110.00 and last traded at $110.7230. 165,542 shares were traded during trading, a decline of 82% from the average session volume of 896,033 shares. The stock had previously closed at $103.15.

CNR has been the topic of a number of other reports. Zacks Research downgraded shares of Core Natural Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Wall Street Zen upgraded shares of Core Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings raised shares of Core Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 19th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $113.75.

Insider Activity

In related news, Director Richard A. Navarre sold 6,000 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $91.70, for a total value of $550,200.00. Following the sale, the director owned 18,034 shares in the company, valued at approximately $1,653,717.80. This represents a 24.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James A. Brock sold 40,760 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $101.15, for a total value of $4,122,874.00. Following the sale, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at $10,115,000. This represents a 28.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 51,560 shares of company stock valued at $5,118,890 over the last three months. Insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On Core Natural Resources

Large investors have recently modified their holdings of the stock. Triumph Capital Management acquired a new stake in shares of Core Natural Resources during the 3rd quarter worth about $25,000. AdvisorNet Financial Inc grew its stake in Core Natural Resources by 1,290.9% in the 3rd quarter. AdvisorNet Financial Inc now owns 306 shares of the energy company’s stock valued at $26,000 after buying an additional 284 shares during the last quarter. CWM LLC raised its holdings in Core Natural Resources by 45.7% in the 4th quarter. CWM LLC now owns 338 shares of the energy company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Salomon & Ludwin LLC bought a new position in Core Natural Resources in the 3rd quarter valued at about $31,000. Finally, EverSource Wealth Advisors LLC lifted its position in Core Natural Resources by 84.9% during the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the energy company’s stock worth $29,000 after acquiring an additional 191 shares during the last quarter. 86.54% of the stock is owned by institutional investors.

Core Natural Resources Price Performance

The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of -36.73 and a beta of 0.34. The company’s 50-day simple moving average is $94.25 and its 200-day simple moving average is $88.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.60 and a quick ratio of 1.15.

Core Natural Resources (NYSE:CNR) last posted its earnings results on Thursday, February 12th. The energy company reported ($1.54) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.76). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $996.54 million. Core Natural Resources had a negative net margin of 3.68% and a negative return on equity of 4.05%. Core Natural Resources’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 EPS. Research analysts forecast that Core Natural Resources, Inc. will post 11.4 earnings per share for the current fiscal year.

Core Natural Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, March 2nd. Core Natural Resources’s dividend payout ratio is currently -13.29%.

About Core Natural Resources

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.