Why These Energy Stocks Are Losing This Week

4. Core Natural Resources, Inc. (NYSE:CNR

Share Price Decline Between May 27 – June 3: 9.05%

Core Natural Resources, Inc. (NYSE:CNR) is a world-class producer and exporter of high-quality, low-cost coals, including metallurgical and high calorific value thermal coals.

Investors reacted negatively after Core Natural Resources, Inc. (NYSE:CNR) announced that it would idle operations at its Itmann mine in West Virginia in August, citing ‘weaker than expected market conditions and economic forces affecting the industry and the mine’. The mine’s output could never achieve its expected levels due to ongoing supply chain and geological challenges, which led to this tough decision. As a result, CNR will also be laying off its 200 employees at the mine by the end of August.