Core Natural Resources

Core Natural Resources shares rose about 3.2% in premarket trading after CONSOL Innovations, a subsidiary, was selected for a government grant to extract rare earths and critical minerals from coal waste. The funding is still subject to final negotiations and federal approvals. UBS had named Core Natural Resources a top pick in the coal sector ahead of Q2 with a buy rating and a $100 price target, which, together with a market rotation into value and commodity stocks, amplified the price reaction. » Mere på de.investing.com

Core Natural Resources, together with CONSOL Innovations, was selected for a US Department of Energy funding program to develop a pilot plant to recover rare earths and critical materials from coal mine fire and spoil piles in the Pennsylvania Mining Complex. The funding commitment is subject to completed negotiations and the final amount is still open. Core stresses the strategic importance of the project for recovering critical materials; the stock is trading at $79.34 with a market capitalization of around $4 billion, after falling about 10% year-to-date. » Mere på de.investing.com

Core Natural Resources has promoted Robert Braithwaite to senior vice president and chief commercial officer with immediate effect. He will take charge of the commercial strategy, including coal sales, marketing, shipping, logistics and market development, and will report to Mitesh Thakkar. The appointment comes as the merged company goes through a challenging financial phase; however, analysts cited by InvestingPro expect the firm to return to profits this year. The stock is trading at $85.89, roughly 25% below its 52-week high. » Mere på de.investing.com