Core Natural Resources (CNR) AI Stock Analysis

• Market Cap: $4.35B
• Dividend Yield: 0.47%
• Average Volume (3M): 815.28K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.06
• Revenue Growth: 64.05%
• EPS Growth: -103.03%
• Country: US
• Employees: 2,076
• Sector: Energy
• Sector Strength: 52
• Industry: Coal
• EPS (TTM): 0.61
• Shares Outstanding: 51,239,470
• 10 Day Avg. Volume: 703,247
• 30 Day Avg. Volume: 815,279
• PEG Ratio: -0.21
• Price to Book (P/B): 2.02
• Price to Sales (P/S): 1.47
• P/FCF Ratio: 10.61
• Enterprise Value/Market Cap: 0.97
• Enterprise Value/Revenue: 1.15
• Enterprise Value/Gross Profit: 8.37
• Enterprise Value/Ebitda: 9.56
• 1Y Price Target: $118.67
• Price Target Upside: 39.66% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): -1.51
• Revenue Forecast (FY): $4.15B

• Rating: 47 Neutral
• Price Target: $82.00 ▼(-3.50% Downside)

Core Natural Resources' overall stock score is primarily impacted by its financial instability, with negative equity and high leverage posing significant risks. While technical analysis and valuation also reflect challenges, recent corporate events and earnings call insights provide some positive outlook, particularly with strategic leadership changes and exploration of new opportunities.

Positive Factors

Revenue Growth

The company’s strong revenue growth indicates robust demand for its products and services, which can drive future profitability and market expansion.

Strategic Leadership Change

The new CEO brings over 40 years of industry experience, focusing on innovation and growth, which can enhance operational excellence and shareholder returns.

Discovery of Rare Earth Elements

This discovery opens new revenue streams and aligns with global demand for critical minerals, potentially boosting long-term growth and diversification.

Negative Factors

Financial Instability

Negative equity and high leverage indicate financial distress, limiting the company’s ability to invest in growth and increasing bankruptcy risk.

Cash Flow Challenges

Inconsistent cash flow generation can hinder the company’s ability to fund operations and strategic initiatives, impacting long-term sustainability.

Operational Challenges

Operational delays and increased costs can disrupt production and reduce profitability, affecting the company’s competitive position and financial performance.

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

Core Natural Resources generates revenue through multiple channels, primarily by selling extracted natural resources to various industries, including construction, manufacturing, and energy production. The company profits from the sale of minerals and fossil fuels, which are essential commodities in the global market. Additionally, CNR has established strategic partnerships with energy companies and industrial manufacturers, allowing for bulk sales agreements and long-term contracts that stabilize revenue streams. CNR also earns income through consulting services that advise clients on sustainable practices and resource management, further diversifying its revenue model.

Core Natural Resources Financial Statement Overview

Summary

Core Natural Resources faces significant financial challenges. Despite revenue growth, the company struggles with profitability, negative equity, and high leverage, posing substantial risks. Cash flow inconsistencies further complicate the financial outlook.

Income Statement

Core Natural Resources shows a mixed performance in its income statement. The TTM data indicates a significant revenue growth rate of 13.98%, which is a positive sign. However, the company is struggling with profitability, as evidenced by a negative EBIT and net income, leading to low margins. Historical data shows fluctuating revenue growth and declining profit margins, suggesting instability in earnings.

Balance Sheet

The balance sheet reveals a concerning financial structure. The company has negative stockholders' equity in the TTM period, indicating potential financial distress. The debt-to-equity ratio is misleading due to negative equity, but historical data shows high leverage, especially in 2021. The return on equity has been volatile, and the equity ratio is negative in the latest period, highlighting financial instability.

Cash Flow

Cash flow analysis shows challenges in maintaining consistent free cash flow growth, with a significant decline of 52.43% in the TTM period. The operating cash flow to net income ratio is moderate, but the free cash flow to net income ratio indicates some ability to generate cash relative to earnings. Historical data shows fluctuating cash flow metrics, reflecting operational volatility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.69B	2.15B	2.51B	2.28B	1.26B	879.46M
Gross Profit	506.44M	1.65B	1.97B	1.87B	932.63M	628.71M
EBITDA	443.30M	576.37M	1.05B	847.96M	323.33M	262.70M
Net Income	-43.41M	286.40M	655.89M	466.98M	34.11M	-9.76M
Balance Sheet
Total Assets	6.20B	2.88B	2.68B	2.70B	2.57B	2.52B
Cash, Cash Equivalents and Short-Term Investments	444.67M	460.23M	281.30M	273.07M	149.91M	50.85M
Total Debt	418.31M	213.74M	212.33M	404.18M	673.94M	712.80M
Total Liabilities	2.42B	1.31B	1.33B	1.54B	1.90B	1.97B
Stockholders Equity	3.78B	1.57B	1.34B	1.17B	672.81M	553.52M
Cash Flow
Free Cash Flow	75.61M	298.40M	690.16M	479.48M	172.82M	43.33M
Operating Cash Flow	319.75M	476.39M	857.95M	650.99M	305.57M	129.33M
Investing Cash Flow	101.27M	-165.03M	-259.43M	-142.18M	-127.36M	-76.33M
Financing Cash Flow	-179.06M	-107.08M	-682.20M	-380.07M	-30.85M	-82.44M

Core Natural Resources Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 84.97
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNR, the sentiment is Positive. The current price of 84.97 is above the 20-day moving average (MA) of 80.81, above the 50-day MA of 84.49, and above the 200-day MA of 76.00, indicating a bullish trend. The MACD of 0.76 indicates Negative momentum. The RSI at 55.34 is Neutral, neither overbought nor oversold. The STOCH value of 77.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CNR.

Core Natural Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ARLP	72 Outperform	$3.10B	12.76	13.07%	11.05%	-9.45%	-46.37%
HCC	69 Neutral	$4.38B	124.92	1.67%	0.38%	-23.25%	-90.78%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
AMR	59 Neutral	$2.38B	-53.67	-2.87%	―	-32.53%	-112.77%
BTU	57 Neutral	$3.54B	-97.17	-0.87%	1.07%	-7.21%	-106.39%
METC	52 Neutral	$993.14M	-25.80	-7.40%	3.18%	-16.99%	-184.02%
CNR	47 Neutral	$4.35B	-204.35	-1.64%	0.47%	64.05%	-103.03%

Core Natural Resources Corporate Events

Core Natural Resources Reports Strong Q3 2025 Earnings

In the third quarter of 2025, Core Natural Resources reported a net income of $31.6 million and adjusted EBITDA of $141.2 million, despite challenges such as the Leer South fire. The company increased its liquidity and returned $24.6 million to stockholders through share buybacks and dividends. Core is transitioning to a more advantageous reserve area at the West Elk mine and has locked in significant sales commitments for 2026. The company is also exploring potential opportunities in rare earth elements and critical minerals, with plans for an expanded drilling program.

Core Natural Resources Appoints James Brock as CEO

On October 6, 2025, Core Natural Resources appointed James A. Brock as its new CEO, succeeding Paul A. Lang, who will transition to a consultant role until the end of the year. This leadership change is part of Core’s strategic focus on innovation and growth, with Brock emphasizing operational excellence and industry-leading stockholder returns. Brock, who has been with the company since its formation through a merger in January 2025, brings over 40 years of industry experience and aims to leverage Core’s world-class operating portfolio and strategic logistical network for future success.