Ciner Resources LP (CINR) Receives “Hold” Rating from DA Davidson
Ciner Resources LP (NYSE:CINR)‘s stock had its “hold” rating reissued by equities researchers at DA Davidson in a research note issued on Friday. They presently have a $32.50 target price on the stock. DA Davidson’s price target suggests a potential upside of 5.35% from the company’s previous close.
Several other research firms have also recently commented on CINR. Citigroup Inc. upped their price target on Ciner Resources from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. FBR & Co reaffirmed a “buy” rating and issued a $35.00 price target on shares of Ciner Resources in a report on Monday, August 8th. Finally, Zacks Investment Research cut Ciner Resources from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $30.25.
Ciner Resources (NYSE:CINR) traded up 0.06% during midday trading on Friday, reaching $30.87. The company’s stock had a trading volume of 48,530 shares. The firm has a market capitalization of $619.01 million, a PE ratio of 13.06 and a beta of 1.15. The stock has a 50 day moving average of $29.90 and a 200 day moving average of $28.98. Ciner Resources has a 52 week low of $18.81 and a 52 week high of $39.10.
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Ciner Resources (NYSE:CINR) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.56 by $0.04. The firm earned $116.70 million during the quarter, compared to analyst estimates of $117.27 million. Ciner Resources had a net margin of 13.04% and a return on equity of 23.78%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities research analysts predict that Ciner Resources will post $2.29 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Advisory Services Network LLC bought a new position in shares of Ciner Resources during the second quarter worth about $104,000. Acrospire Investment Management LLC boosted its stake in Ciner Resources by 45.0% in the second quarter. Acrospire Investment Management LLC now owns 3,958 shares of the company’s stock worth $111,000 after buying an additional 1,229 shares in the last quarter. KCG Holdings Inc. acquired a new stake in Ciner Resources during the second quarter worth $206,000. Allianz Asset Management AG acquired a new stake in Ciner Resources during the second quarter worth $228,000. Finally, Eqis Capital Management Inc. acquired a new stake in Ciner Resources during the third quarter worth $263,000. 19.86% of the stock is owned by institutional investors and hedge funds.
About Ciner Resources
Ciner Resources LP, formerly OCI Resources LP, owns a controlling interest consisting of 51% membership interest in Ciner Wyoming LLC (Ciner Wyoming). Ciner Wyoming produces soda ash and serves a global market from its facility in the Green River Basin of Wyoming. The Company processes trona ore into soda ash, a raw material in flat glass, container glass, detergents, chemicals, paper and other consumer and industrial products.
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