Core Natural Resources (CNR) AI Stock Analysis

• Market Cap: $3.74B
• Dividend Yield: 0.87%
• Average Volume (3M): 1.11M
• Price to Earnings (P/E): 7.3
• Beta (1Y): 0.88
• Revenue Growth: -13.20%
• EPS Growth: -51.56%
• Country: US
• Employees: 2,076
• Sector: Energy
• Sector Strength: 52
• Industry: Coal
• EPS (TTM): 9.61
• Shares Outstanding: 53,444,710
• 10 Day Avg. Volume: 1,136,673
• 30 Day Avg. Volume: 1,112,229
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.00
• Price to Cash Flow (P/CF): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $113.67
• Price Target Upside: 68.00% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

Core Natural Resources has a stable financial foundation, supported by a strong balance sheet and attractive valuation metrics. The earnings call highlights effective management and strategic initiatives post-merger, bolstering investor confidence. However, technical analysis indicates near-term challenges, and declining revenue and cash flow could impact future growth. The overall score reflects a balanced view of these factors, indicating moderate investment potential with some risks.

Positive Factors

Cost Efficiency

Met segment cash cost per ton is projected to decrease to the low $90s, improving from a full-year range of $96-$100.

Financial Strategy

CNR announced plans to return around 75% of free cash flow, including a sustaining quarterly dividend of $0.10/share, with the bulk directed to share repurchases backed by a $1.0B buyback authorization.

Market Position

The merger of Arch and CONSOL to form Core Natural Resources creates the largest US-listed coal company with exposure to seaborne and domestic coal markets.

Negative Factors

Market Valuation

Analyst's discounted cash flow and EV/EBITDA multiple analysis imply little upside to the Core share price based on current coal price assumptions.

Mergers and Acquisitions

The risk of mergers and acquisitions could be an overhang on Core's share price, creating uncertainty for investors.

Operational Challenges

The combustion event at Leer South will limit coking coal sales to 7.5M-8.0M tons, impacting shipment and cost expectations.

Core Natural Resources Business Overview & Revenue Model

Company Description

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. Its CONSOL Marine Terminal segment provides coal export terminal services through the Port of Baltimore. The company also develops and operates the Itmann Mining Complex located in Wyoming County, West Virginia; and Greenfield Reserves and Resources located in the Northern Appalachian, Central Appalachian, and Illinois basins. The company was formerly known as CONSOL Energy Inc. and changed its name to Core Natural Resources, Inc. in January 2025. Core Natural Resources, Inc. was founded in 1864 and is headquartered in Canonsburg, Pennsylvania.

How the Company Makes Money

CNR generates revenue primarily through the sale of extracted resources such as oil, natural gas, and minerals. The company operates various extraction sites and sells these resources to refineries, utility companies, and industrial customers. Additional revenue streams include joint ventures and strategic partnerships with other companies in the energy and mining industries, which allow CNR to expand its operational capabilities and market reach. The company also invests in technology to improve extraction efficiency and reduce costs, further contributing to its profitability.

Core Natural Resources Financial Statement Overview

Summary

Core Natural Resources shows a stable financial position with a strong balance sheet and robust gross margins. However, recent declines in revenue and net income, coupled with decreasing free cash flow, suggest challenges in sustaining growth and profitability. The company should focus on reversing revenue declines and maintaining cash flow to support long-term stability.

Income Statement

The income statement reveals a mixed performance. Gross Profit Margin is solid, indicating efficient production, but the Net Profit Margin has decreased significantly from the previous year. The absence of EBIT data limits comprehensive analysis. Revenue has seen fluctuations with a decline in the most recent year, which could be a concern for growth prospects.

Balance Sheet

The balance sheet shows strong equity growth and a favorable debt-to-equity ratio, indicating financial stability. The company has managed to reduce its debt over recent years, enhancing its financial health. However, the Equity Ratio suggests a moderate reliance on liabilities, which should be monitored.

Cash Flow

Cash flow indicates a decline in free cash flow, which impacts the company's ability to fund operations and investments internally. Operating cash flow remains strong relative to net income, which is a positive sign. However, the decrease in free cash flow poses a potential risk if the trend continues.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
2.15B	2.51B	2.28B	1.26B	879.46M
	Gross Profit
1.65B	1.97B	1.87B	932.63M	628.71M
	EBIT
265.23M	747.68M	804.78M	100.18M	-111.59M
	EBITDA
576.37M	1.05B	847.96M	323.33M	262.70M
	Net Income Common Stockholders
286.40M	655.89M	466.98M	34.11M	-9.76M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
460.23M	281.30M	273.07M	149.91M	676.59M
	Total Assets
3.04B	2.68B	2.70B	2.57B	5.48B
	Total Debt
213.74M	212.33M	404.18M	3.36B	3.86B
	Net Debt
-194.50M	12.96M	131.11M	2.97B	3.18B
	Total Liabilities
1.31B	1.33B	1.54B	4.65B	5.04B
	Stockholders Equity
1.57B	1.34B	1.17B	1.18B	441.81M
Cash Flow		Free Cash Flow
298.40M	690.16M	479.48M	-330.60M	226.57M
	Operating Cash Flow
476.39M	857.95M	650.99M	305.57M	308.42M
	Investing Cash Flow
-165.03M	-259.43M	-142.18M	-127.36M	-120.12M
	Financing Cash Flow
-107.08M	-682.20M	-380.07M	-30.85M	389.65M

Core Natural Resources Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 67.66
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNR, the sentiment is Negative. The current price of 67.66 is below the 20-day moving average (MA) of 72.97, below the 50-day MA of 76.46, and below the 200-day MA of 97.83, indicating a bearish trend. The MACD of -0.54 indicates Negative momentum. The RSI at 52.64 is Neutral, neither overbought nor oversold. The STOCH value of 80.44 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CNR.

Core Natural Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ARLP	79 Outperform	$3.41B	9.57	19.34%	10.55%	-4.60%	-42.35%
BTU	78 Outperform	$1.49B	4.54	10.41%	2.45%	-14.50%	-46.36%
CNR	74 Outperform	$3.74B	7.29	19.67%	0.87%	-13.20%	-51.56%
NRP	74 Outperform	$1.27B	8.50	32.48%	3.11%	-16.56%	-24.95%
HCC	69 Neutral	$2.35B	9.33	12.64%	0.74%	-9.10%	-47.93%
AMR	60 Neutral	$1.52B	8.18	11.64%	0.36%	-14.81%	-71.49%
Sector *	57 Neutral	$7.72B	4.32	-3.75%	6.33%	-0.11%	-64.75%

Core Natural Resources Corporate Events

Core Natural Resources Completes Successful Bond Refinancing

On March 27, 2025, Core Natural Resources successfully completed a refinancing effort involving tax-exempt bonds initially issued by CONSOL Energy and Arch Resources. The refinancing increased the total bond amount from $276 million to $307 million, established a 10-year initial term for the now unsecured bonds maturing in March 2035, and reduced the weighted average interest rate to 5.3% despite a higher interest rate environment. The transactions, which were more than six times oversubscribed, underscore the strength of Core’s operating portfolio and its enhanced diversification and scale, providing significant financial flexibility to support long-term growth. Thirty-nine institutional investors participated in the transactions, with Jefferies LLC and KeyBanc Capital as co-lead bookrunners.