Core Natural Resources (NYSE:CNR) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Core Natural Resources (NYSE:CNR) from a hold rating to a strong sell rating in a report issued on Tuesday morning,Zacks.com reports.

Several other research analysts also recently commented on the company. UBS Group lifted their target price on Core Natural Resources from $89.00 to $105.50 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Jefferies Financial Group raised Core Natural Resources from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $90.00 to $125.00 in a research note on Friday, October 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of Core Natural Resources in a research report on Monday, December 29th. Finally, Benchmark restated a “buy” rating on shares of Core Natural Resources in a research report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $111.38.

Core Natural Resources Stock Up 0.7%

Shares of NYSE CNR opened at $91.86 on Tuesday. The company has a 50 day simple moving average of $83.94 and a 200 day simple moving average of $79.91. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.82 and a quick ratio of 1.29. Core Natural Resources has a 1 year low of $58.19 and a 1 year high of $107.00. The firm has a market cap of $4.71 billion, a PE ratio of -213.62 and a beta of 0.33.

Core Natural Resources (NYSE:CNR) last posted its earnings results on Thursday, November 6th. The energy company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.40) by $2.01. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.05 billion. Core Natural Resources had a negative net margin of 1.17% and a positive return on equity of 0.52%. The firm’s revenue was up 74.4% compared to the same quarter last year. On average, research analysts forecast that Core Natural Resources will post 11.4 EPS for the current year.

Core Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, November 28th. Core Natural Resources’s dividend payout ratio is presently -93.02%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CNR. Royal Bank of Canada bought a new position in shares of Core Natural Resources during the 1st quarter worth about $2,037,000. AQR Capital Management LLC bought a new stake in shares of Core Natural Resources during the first quarter valued at approximately $796,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Core Natural Resources during the first quarter valued at approximately $2,413,000. NewEdge Advisors LLC acquired a new position in shares of Core Natural Resources during the first quarter worth approximately $1,223,000. Finally, United Services Automobile Association acquired a new position in shares of Core Natural Resources during the first quarter worth approximately $256,000. 86.54% of the stock is owned by institutional investors.

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.