CNX Coal Resources LP (CNXC) PT Raised to $15.00
CNX Coal Resources LP (NYSE:CNXC) had its price target raised by investment analysts at Jefferies Group from $13.00 to $15.00 in a research note issued on Tuesday. The brokerage currently has a “hold” rating on the stock. Jefferies Group’s target price indicates a potential downside of 0.33% from the company’s current price.
Several other analysts have also recently issued reports on CNXC. Zacks Investment Research raised shares of CNX Coal Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Wednesday, July 13th. Stifel Nicolaus upped their price objective on shares of CNX Coal Resources from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Citigroup Inc. assumed coverage on shares of CNX Coal Resources in a research note on Thursday, July 28th. They set a “neutral” rating and a $14.00 price objective for the company. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $14.14.
CNX Coal Resources (NYSE:CNXC) traded up 2.284% during mid-day trading on Tuesday, hitting $15.005. 90,099 shares of the stock traded hands. The stock has a market cap of $348.45 million, a P/E ratio of 625.208 and a beta of 2.08. 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 12 month low of $5.98 and a 12 month high of $17.34.
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CNX Coal Resources (NYSE:CNXC) last released its quarterly earnings results on Friday, July 29th. The company reported $0.11 earnings per share for the quarter, missing the 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, equities analysts forecast that CNX Coal Resources will post $0.79 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of CNXC. A.R.T. Advisors LLC purchased a new stake in CNX Coal Resources during the second quarter valued at $150,000. Howard Hughes Medical Institute boosted its stake 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 period. Renaissance Technologies LLC bought a new position in CNX Coal Resources during the first quarter worth $698,000. Finally, 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 worth $3,052,000 after buying an additional 102,500 shares during the last quarter. 59.04% of the stock is owned by institutional investors and hedge funds.
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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