Core Natural Resources, Inc. (CNR) Stock Price & Analysis
Core Natural Resources, Inc. (CNR) closed at USD 88.35 on Thursday, October 22, 2026, up 0.91% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 87.55; the Oct 22, 2026 session ranged USD 86.94–89.69 on volume of 474,267 shares. Market capitalization is $4.39B, with a 52-week range of USD 74.75–114.8 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:23 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CNR.md
Key facts (CNR)
- Last four reported quarters (through Jun 30, 2026): revenue $4.27B, net income $100M (2.3% margin), free cash flow $260M (SEC filings).
- Valuation: P/E 43.8x (avg 8.1x at the last 2 fiscal year-ends).
- 1 of 80 tracked superinvestors hold CNR (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 2.25 on a 1–5 scale) (4 analysts), mean target USD 109.5 (range 105–118).
- Total return with dividends: 1Y +6.3% vs S&P 500 +14.9%; 5Y +220.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.73, revenue estimate $1.14B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CNR)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.26B | $2.28B | $2.57B | $2.24B | $4.16B | $4.27B |
| Operating income | — | — | $803M | $351M | -$182M | $79.6M |
| Net income | $34.1M | $467M | $656M | $286M | -$153M | $100M |
| EPS (diluted) | $0.96 | $13.07 | $19.79 | $9.61 | -$2.98 | — |
| Free cash flow | $173M | $479M | $690M | $298M | $21.2M | $260M |
| Operating margin | — | — | 31.3% | 15.7% | -4.4% | 1.9% |
| Net margin | 2.7% | 20.5% | 25.5% | 12.8% | -3.7% | 2.3% |
| Revenue growth | +23.4% | +80.8% | +12.7% | -12.9% | +86.2% | — |
| Cash + short-term investments | $150M | $273M | $281M | $460M | $432M | — |
| Total debt | $605M | $347M | $184M | $183M | $395M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (CNR)
P/E 43.8x · P/S 1.0x · P/FCF 16.9x · P/B 1.2x · FCF yield 5.92% · Earnings yield 2.28% · Dividend yield (paid, TTM) 0.47% · Buyback yield (TTM) 3.33%
P/E at fiscal year-ends: Dec 2024 11.1x, Dec 2023 5.1x.
Superinvestors (SEC 13F-HR, Q2 2026) (CNR)
1 of 80 tracked investors hold CNR. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| David Einhorn | Greenlight Capital | 4.67% | $183M | Added +22.9% |
Analysts (CNR)
Consensus Buy (mean 2.25 on a 1–5 scale), 4 analysts; mean target USD 109.5 (low 105, high 118).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-19 | UBS | Downgrade | Buy → Neutral | $101 → $105 |
| 2026-06-30 | UBS | Target lowered | Buy | $107 → $100 |
Total return (dividends reinvested) (CNR)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +6.3% | +220.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +6.3% | +26.2% |
| Volatility (annualized) | 43.7% | 51.1% |
| Max drawdown | -31.3% (Mar 2026→Jul 2026) | -51.6% (Nov 2024→Mar 2025) |
CNR revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| High CV Thermal | $612.1M | 53.6% | +0.9% |
| Metallurgical | $366.3M | 32.1% | +22.1% |
| PRB | $148.3M | 13.0% | -20.7% |
| Core Marine Terminal | $9.9M | 0.9% | +119.0% |
| Total revenue | $1.14B | 100% | — |
CNR revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Coal | $1.13B | 98.7% | +3.0% |
| — Power Generation (part of Coal) | $401.0M | 35.1% | -15.7% |
| — Industrial (part of Coal) | $366.7M | 32.1% | +34.1% |
| — Metallurgical (part of Coal) | $358.9M | 31.5% | +4.3% |
| Third-Party Terminal Revenue | $9.9M | 0.9% | +119.0% |
| Other Revenue | $4.4M | 0.4% | -1.4% |
| Total revenue | $1.14B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
CNR suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | CONSOL Innovations | “We also continue to partner with the U.S. Department of Energy ("DOE") and certain industry and academic partners on several projects that are aligned with Innovations' focus areas.” |
| Partner | Alpha Metallurgical Resources, Inc. (AMR) | “The peer group, for the purposes of the information presented below, is comprised of Alliance Resource Partners LP, Alpha Metallurgical Resources, Inc., Hallador Energy Company, Peabody Energy Corporation, Ramaco Resources, Inc. and Warrior Met Coal, Inc. Our peer group was updated for 2025 to remove Arch in light of the Merger with the Company in January 2025.” |
| Partner | PEABODY ENERGY CORP (BTU) | “The peer group, for the purposes of the information presented below, is comprised of Alliance Resource Partners LP, Alpha Metallurgical Resources, Inc., Hallador Energy Company, Peabody Energy Corporation, Ramaco Resources, Inc. and Warrior Met Coal, Inc. Our peer group was updated for 2025 to remove Arch in light of the Merger with the Company in January 2025.” |
| Partner | Ramaco Resources, Inc. (METC) | “The peer group, for the purposes of the information presented below, is comprised of Alliance Resource Partners LP, Alpha Metallurgical Resources, Inc., Hallador Energy Company, Peabody Energy Corporation, Ramaco Resources, Inc. and Warrior Met Coal, Inc. Our peer group was updated for 2025 to remove Arch in light of the Merger with the Company in January 2025.” |
| Partner | WARRIOR MET COAL, INC. (HCC) | “The peer group, for the purposes of the information presented below, is comprised of Alliance Resource Partners LP, Alpha Metallurgical Resources, Inc., Hallador Energy Company, Peabody Energy Corporation, Ramaco Resources, Inc. and Warrior Met Coal, Inc. Our peer group was updated for 2025 to remove Arch in light of the Merger with the Company in January 2025.” |
Quoted from the company's 10-K filed Feb 17, 2026.
CNR analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.73 | $1.45 | -49.3% | $1.14B | 3 |
| Next quarter (ends Dec 2026) | $1.15 | $1.36 | -15.3% | $1.15B | 3 |
| Current fiscal year (ends Dec 2026) | $4.83 | $2.76 | +74.7% | $4.52B | 4 |
| Next fiscal year (ends Dec 2027) | $6.80 | $6.73 | +1.0% | $4.60B | 4 |
CNR options: expected move
Options price a move of about ±11.0% (±$9.73) by Nov 20, 2026, which includes earnings on Nov 5, 2026. Over the last 8 reports the stock moved ±7.1% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 48.1% | ±11.0% |
| Dec 18, 2026 | 56 | 41.9% | ±13.4% |
| Mar 19, 2027 | 147 | 45.0% | ±23.0% |
| Jun 17, 2027 | 237 | 43.1% | ±27.8% |
30-day implied volatility 48.4% vs 27.8% realized over the last 30 trading days. Put/call ratio (volume) 0.16. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:23 UTC)
| Price | USD 88.35 |
|---|---|
| Change | ▲ 0.91% (up) |
| Previous Close | USD 87.55 |
| Open | USD 86.92 |
| Day Range | USD 86.94 – 89.69 |
| 52-Week Range | USD 74.75 – 114.8 |
| Volume | 474,267 shares |
| Market Cap | $4.39B |
| Exchange | NYQ |
Technical Analysis (CNR)
Nexqual's technical model rates CNR "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:23 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 39.99 (neutral) |
| vs SMA50 | Below (USD 93.31) |
| MACD | -1.04 (negative) |
Analyst Ratings (CNR)
Wall Street analysts rate CNR "Buy" based on 4 analysts, with a mean price target of USD 109.5 (range USD 105–118), per Nexqual as of October 23, 2026 at 09:23 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 4 |
| Mean Target | USD 109.5 |
| High Target | USD 118 |
| Low Target | USD 105 |
| Buy / Hold / Sell | 3 / 1 / 0 |
Earnings (CNR)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 0.67 |
| Revenue Estimate | $1.14B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 2.51 vs est 0.64 ▲ beat |
| 2026-03-31 | USD 0.41 vs est 0.29 ▲ beat |
| 2025-12-31 | USD -1.54 vs est -0.59 ▼ miss |
| 2025-09-30 | USD 0.61 vs est -0.87 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financials & Fundamentals (CNR)
| Total Revenue | $4.27B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +3.50% |
| Gross Margin | +16.86% |
| Operating Margin | +2.16% |
| Profit Margin | +2.34% |
| ROE | +2.67% |
| Debt / Equity | 0.12 |
| Current Ratio | 1.83 |
| Total Cash | $474.02M |
| Total Debt | $447.65M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $259.50M (6.1% of revenue) |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financial Health Score (CNR)
Nexqual rates Core Natural Resources, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:23 UTC.
| Growth | Strong — Revenue +86% YoY (annual) |
|---|---|
| Profitability | Weak — Gross margin 17%, operating 2% (last 12 months) |
| Balance Sheet | Strong — $432M cash and investments vs $395M debt (Dec 2025, SEC), net cash |
| Cash Flow | Solid — FCF $260M (last 4 quarters to Jun 2026, SEC), 6% margin |
| Efficiency | Weak — ROE 3%, ROA -0.9% |
Ownership (CNR)
| Insider Ownership | +2.54% |
|---|---|
| Institutional Ownership | +95.61% |
| Shares Outstanding | 49.64M |
| Float | 48.47M |
| Short % of Float | +6.36% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Leadership (CNR)
Core Natural Resources, Inc. is led by James A. Brock, Executive Chairman & CEO, per Nexqual as of October 23, 2026 at 09:23 UTC.
| Executive Chairman & CEO | James A. Brock |
|---|---|
| President | Mitesh kumar B. Thakkar |
| Senior VP & COO | George J. Schuller |
| Senior Vice President, Chief External and Government Affairs Officer | Deck S. Slone |
| Senior VP & CFO | Nathan J. Tucker |
Major Backers & Investors (CNR)
Notable institutional backers of Core Natural Resources, Inc. include FMR, LLC, DME Capital Management, LP, Fidelity, according to Nexqual as of October 23, 2026 at 09:23 UTC.
Active Investors
| Investor | Stake |
|---|---|
| FMR, LLC | 5.83% |
| DME Capital Management, LP | 4.6% |
| Fidelity | 3.08% |
| Flat Footed LLC | 2.35% |
| Goehring & Rozencwajg Associates, LLC | 2.22% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 15.3% |
| Vanguard Group | 10.48% |
| State Street | 7.96% |
| Dimensional Fund Advisors | 3% |
| Geode Capital | 2.68% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
From Core Natural Resources, Inc.'s Latest SEC 10-K Filing (filed 2026-02-17)
Key Strengths & Strategy (as disclosed to the SEC)
- We believe our substantial capital investment in the PAMC will enable us to maintain high production volumes, low operating costs and a strong safety and environmental compliance record, which we believe are key to supporting stable financial performance and cash flows throughout business and commodity price cycles.
- The advantageous qualities of this product enable us to compete for demand from a broad range of the global industrial and electric power generation markets.
Partnerships
- On January 14, 2025, we completed our all-stock merger of equals transaction with Arch pursuant to the Merger Agreement announced on August 21, 2024.
Legal & Regulatory Risks (Item 1A, quoted)
- Compliance with import and export requirements, the Foreign Corrupt Practices Act and other applicable anti-corruption laws may increase the risks of doing business internationally.
- Regulation to address climate change (or emissions of GHGs including carbon dioxide and methane) and uncertainty regarding such regulation may affect us directly or indirectly by increasing our operating costs, reducing the value of our coal assets and adversely impacting the market for coal.
- We are subject to litigation seeking to hold energy companies accountable for the effects of climate change and may be subject to additional such litigation in the future.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| ARLP | Alliance Resource Partners, L.P | USD 25.85 | ▲ 0.47% |
| BTU | Peabody Energy Corporation | USD 22.43 | ▼ 0.04% |
| HAL | Halliburton Company | USD 33.19 | ▼ 2.35% |
| TS | Tenaris S.A. | USD 56.37 | ▼ 3.92% |
| PBA | Pembina Pipeline Corp. | USD 49.37 | ▼ 2.55% |
| VG | Venture Global, Inc. | USD 12.81 | ▼ 0.31% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:23 UTC. This page is informational and not investment advice.
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