Core Natural Resources (NYSE:CNR) Cut to Strong Sell at Zacks Research

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

Several other research analysts also recently issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Core Natural Resources in a research report on Monday, December 29th. Wall Street Zen lowered Core Natural Resources from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Finally, Benchmark reaffirmed a “buy” rating on shares of Core Natural Resources in a research note 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $111.38.

Core Natural Resources Trading Down 2.2%

Shares of CNR stock opened at $86.99 on Thursday. Core Natural Resources has a 52-week low of $58.19 and a 52-week high of $103.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.15 and a current ratio of 1.60. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of -28.90 and a beta of 0.34. The firm has a fifty day moving average of $91.98 and a 200-day moving average of $85.32.

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

Institutional Investors Weigh In On Core Natural Resources

Large investors have recently made changes to their positions in the stock. Corient Private Wealth LLC grew its holdings in Core Natural Resources by 89.0% during the fourth quarter. Corient Private Wealth LLC now owns 5,053 shares of the energy company’s stock worth $447,000 after purchasing an additional 2,379 shares during the period. Alberta Investment Management Corp acquired a new stake in Core Natural Resources during the fourth quarter worth about $1,567,000. Regal Partners Ltd bought a new stake in Core Natural Resources during the fourth quarter worth $4,148,000. Empowered Funds LLC lifted its holdings in shares of Core Natural Resources by 8.0% in the fourth quarter. Empowered Funds LLC now owns 19,533 shares of the energy company’s stock worth $1,729,000 after acquiring an additional 1,440 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Core Natural Resources during the fourth quarter worth $423,000. Institutional investors and hedge funds 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.