CNX Coal Resources LP (CNXC) Price Target Raised to $15.00 at Jefferies Group
CNX Coal Resources LP (NYSE:CNXC) had its target price hoisted by Jefferies Group from $13.00 to $15.00 in a report released on Tuesday. The brokerage currently has a “hold” rating on the stock. Jefferies Group’s price target would indicate a potential upside of 2.25% from the company’s current price.
A number of other analysts have also recently commented on the company. Citigroup Inc. began coverage on CNX Coal Resources in a research report on Thursday, July 28th. They set a “neutral” rating and a $14.00 target price on the stock. Stifel Nicolaus lifted their target price on CNX Coal Resources from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Zacks Investment Research cut CNX Coal Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. CNX Coal Resources currently has an average rating of “Hold” and an average price target of $14.14.
CNX Coal Resources (NYSE:CNXC) opened at 14.67 on Tuesday. The stock has a 50 day moving average price of $13.26 and a 200-day moving average price of $9.77. CNX Coal Resources has a one year low of $5.98 and a one year high of $17.34. The firm has a market capitalization of $340.67 million, a price-to-earnings ratio of 611.25 and a beta of 2.08.
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CNX Coal Resources (NYSE:CNXC) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.02. CNX Coal Resources had a return on equity of 16.14% and a net margin of 12.85%. On average, analysts predict that CNX Coal Resources will post $0.79 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the company. Mountain Lake Investment Management LLC boosted its position in CNX Coal Resources by 31.8% in the first quarter. Mountain Lake Investment Management LLC now owns 425,000 shares of the company’s stock valued at $3,052,000 after buying an additional 102,500 shares during the last quarter. Renaissance Technologies LLC acquired a new position in CNX Coal Resources during the first quarter valued at about $698,000. A.R.T. Advisors LLC acquired a new position in CNX Coal Resources during the second quarter valued at about $150,000. Finally, Howard Hughes Medical Institute boosted its position in CNX Coal Resources by 20.4% in the first quarter. Howard Hughes Medical Institute now owns 37,552 shares of the company’s stock valued at $270,000 after buying an additional 6,353 shares during the last quarter. Institutional investors own 59.04% of the company’s stock.
About CNX Coal Resources
CNX Coal Resources LP is a producer of thermal coal in the Northern Appalachian Basin and the eastern United States. The Company is engaged in the management and development of the thermal coal operations of CONSOL Energy Inc (CONSOL Energy) in Pennsylvania. The Company’s assets include interests in CONSOL Energy’s Pennsylvania mining complex, which consists of approximately three underground mines and related infrastructure that produce bituminous thermal coal that is sold primarily to electric utilities in the eastern United States.
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