Core Natural Resources (NYSE:CNR) Stock Crosses Below 50 Day Moving Average – What’s Next?

Core Natural Resources, Inc. (NYSE:CNR)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $90.11 and traded as low as $86.25. Core Natural Resources shares last traded at $86.8650, with a volume of 702,931 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CNR shares. Zacks Research raised Core Natural Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday. Jefferies Financial Group raised Core Natural Resources from a “hold” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $125.00 in a research note on Friday, October 10th. Benchmark reiterated a “buy” rating on shares of Core Natural Resources in a research note on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Core Natural Resources in a report on Monday, December 29th. Four 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. According to MarketBeat.com, Core Natural Resources currently has an average rating of “Moderate Buy” and an average price target of $111.38.

Core Natural Resources Stock Performance

The stock has a market cap of $4.73 billion, a P/E ratio of 57.65 and a beta of 0.34. The company has a quick ratio of 1.29, a current ratio of 1.82 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $90.35 and a two-hundred day moving average price of $83.50.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CNR. Magnolia Group LLC grew its position in Core Natural Resources by 140.6% in the second quarter. Magnolia Group LLC now owns 714,500 shares of the energy company’s stock worth $49,829,000 after acquiring an additional 417,500 shares in the last quarter. State Street Corp lifted its stake in shares of Core Natural Resources by 10.2% in the 2nd quarter. State Street Corp now owns 3,169,543 shares of the energy company’s stock valued at $221,044,000 after purchasing an additional 294,312 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Core Natural Resources by 10,023.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 295,720 shares of the energy company’s stock valued at $20,624,000 after purchasing an additional 292,799 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Core Natural Resources in the 4th quarter worth approximately $22,741,000. Finally, First Trust Advisors LP increased its position in shares of Core Natural Resources by 619.5% during the 2nd quarter. First Trust Advisors LP now owns 267,445 shares of the energy company’s stock valued at $18,652,000 after purchasing an additional 230,275 shares during the last quarter. Institutional investors own 86.54% of the company’s stock.

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.