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

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

A number of other brokerages also recently commented on CNR. Jefferies Financial Group upgraded Core Natural Resources from a “hold” rating to a “buy” rating and upped their target price 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 report on Monday, December 29th. UBS Group raised their price objective on shares of Core Natural Resources from $89.00 to $105.50 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating on shares of Core Natural Resources in a report on Monday, November 10th. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $111.38.

Core Natural Resources Trading Up 0.7%

Shares of Core Natural Resources stock opened at $91.86 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.82 and a quick ratio of 1.29. The firm has a fifty day moving average price of $83.94 and a 200 day moving average price of $79.91. Core Natural Resources has a 1 year low of $58.19 and a 1 year high of $107.00. The stock 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 quarterly earnings results on Thursday, November 6th. The energy company reported $0.61 EPS for the quarter, beating the consensus estimate of ($1.40) by $2.01. The company 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%. Core Natural Resources’s revenue was up 74.4% on a year-over-year basis. Equities research analysts predict that Core Natural Resources will post 11.4 earnings per share for the current year.

Hedge Funds Weigh In On Core Natural Resources

Large investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Core Natural Resources by 10.2% in the second 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 period. Geode Capital Management LLC raised its position in shares of Core Natural Resources by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,237,486 shares of the energy company’s stock worth $86,318,000 after purchasing an additional 20,541 shares during the last quarter. Magnolia Group LLC lifted its stake in Core Natural Resources by 2.4% in the 3rd quarter. Magnolia Group LLC now owns 732,000 shares of the energy company’s stock valued at $61,107,000 after buying an additional 17,500 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Core Natural Resources by 27.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 652,379 shares of the energy company’s stock worth $54,461,000 after buying an additional 139,188 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Core Natural Resources by 48.9% in the 2nd quarter. Bank of America Corp DE now owns 585,137 shares of the energy company’s stock worth $40,807,000 after buying an additional 192,136 shares during the last quarter. 86.54% of the stock is currently owned by institutional investors and hedge funds.

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.