Core Natural Resources (NYSE:CNR) Rating Lowered to “Strong Sell” at Zacks Research

Core Natural Resources (NYSE:CNR) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

CNR has been the subject of several other research reports. Weiss Ratings upgraded Core Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. UBS Group raised their price objective on Core Natural Resources from $109.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. B. Riley Financial restated a “buy” rating on shares of Core Natural Resources in a report on Thursday, April 30th. Finally, Wall Street Zen upgraded Core Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $116.67.

Core Natural Resources Price Performance

Shares of NYSE CNR opened at $83.00 on Tuesday. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of -68.03 and a beta of 0.14. The business has a 50-day moving average of $94.07 and a 200-day moving average of $90.13. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.70 and a quick ratio of 1.21. Core Natural Resources has a fifty-two week low of $64.15 and a fifty-two week high of $114.80.

Core Natural Resources (NYSE:CNR) last announced its quarterly earnings data on Thursday, May 7th. The energy company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.13. The company had revenue of $899.48 million during the quarter, compared to analysts’ expectations of $1.06 billion. Core Natural Resources had a negative return on equity of 1.69% and a negative net margin of 1.49%.Core Natural Resources’s revenue for the quarter was up 94.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.39 EPS. As a group, sell-side analysts predict that Core Natural Resources will post 1.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard A. Navarre sold 6,000 shares of Core Natural Resources stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $91.70, for a total transaction of $550,200.00. Following the completion of the transaction, the director owned 18,034 shares in the company, valued at approximately $1,653,717.80. This trade represents a 24.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James A. Brock sold 40,760 shares of Core Natural Resources stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $101.15, for a total value of $4,122,874.00. Following the transaction, the chief executive officer owned 100,000 shares of the company’s stock, valued at $10,115,000. The trade was a 28.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 51,560 shares of company stock worth $5,118,890. Company insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On Core Natural Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Core Natural Resources by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 5,669,844 shares of the energy company’s stock worth $501,838,000 after purchasing an additional 39,557 shares during the period. State Street Corp grew its holdings in Core Natural Resources by 7.8% during the fourth quarter. State Street Corp now owns 3,707,442 shares of the energy company’s stock worth $328,146,000 after purchasing an additional 267,925 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in Core Natural Resources during the fourth quarter worth approximately $86,297,000. Charles Schwab Investment Management Inc. lifted its position in Core Natural Resources by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,224 shares of the energy company’s stock worth $66,491,000 after acquiring an additional 40,383 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its position in Core Natural Resources by 134.0% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 708,225 shares of the energy company’s stock worth $74,172,000 after acquiring an additional 405,505 shares during the last quarter. 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.