Core Natural Resources (NYSE:CNR) Trading Down 7.3% – Should You Sell?
by Sarita Garza · The Markets DailyCore Natural Resources, Inc. (NYSE:CNR – Get Free Report) dropped 7.3% on Wednesday . The company traded as low as $90.32 and last traded at $92.6090. Approximately 425,874 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 905,957 shares. The stock had previously closed at $99.93.
Wall Street Analysts Forecast Growth
CNR has been the topic of a number of research reports. Wall Street Zen raised shares of Core Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. UBS Group upped their price target on shares of Core Natural Resources from $109.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Weiss Ratings raised shares of Core Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, March 19th. Finally, Zacks Research downgraded shares of Core Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $113.75.
View Our Latest Analysis on Core Natural Resources
Core Natural Resources Price Performance
The stock has a market capitalization of $4.75 billion, a P/E ratio of -31.10 and a beta of 0.25. The stock’s fifty day moving average is $95.59 and its 200-day moving average is $90.05. 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 – Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The energy company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.76). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $996.54 million. Core Natural Resources had a negative return on equity of 4.05% and a negative net margin of 3.68%.The company’s revenue for the quarter was up 81.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.04 earnings per share. On average, equities analysts anticipate that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.
Core Natural Resources Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a $0.10 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. Core Natural Resources’s dividend payout ratio is currently -13.29%.
Insider Buying and Selling at Core Natural Resources
In other Core Natural Resources news, CAO John Rothka sold 1,000 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $97.66, for a total transaction of $97,660.00. Following the completion of the sale, the chief accounting officer directly owned 5,190 shares in the company, valued at $506,855.40. This represents a 16.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James A. Brock sold 40,760 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $101.15, for a total transaction of $4,122,874.00. Following the sale, the chief executive officer owned 100,000 shares of the company’s stock, valued at $10,115,000. This trade represents a 28.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 51,560 shares of company stock worth $5,118,890 over the last ninety days. Company insiders own 2.49% of the company’s stock.
Institutional Investors Weigh In On Core Natural Resources
A number of hedge funds have recently bought and sold shares of CNR. Triumph Capital Management bought a new stake in Core Natural Resources during the third quarter valued at about $25,000. AdvisorNet Financial Inc lifted its stake in shares of Core Natural Resources by 1,290.9% in the third 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 period. EverSource Wealth Advisors LLC lifted its stake in shares of Core Natural Resources by 84.9% in the second 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 period. CWM LLC lifted its stake in shares of Core Natural Resources by 45.7% in the fourth quarter. CWM LLC now owns 338 shares of the energy company’s stock valued at $30,000 after buying an additional 106 shares during the period. Finally, Salomon & Ludwin LLC bought a new stake in shares of Core Natural Resources in the third quarter valued at about $31,000. 86.54% of the stock is currently owned by institutional investors.
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.