Ciner Resources LP (NYSE:CINR) Receives Consensus Rating of “Hold” from Brokerages
Ciner Resources LP (NYSE:CINR) has been given a consensus recommendation of “Hold” by the seven brokerages that are covering the stock. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $29.90.
Several research analysts recently weighed in on CINR shares. FBR & Co restated a “buy” rating and set a $35.00 price target on shares of Ciner Resources in a report on Monday, August 8th. Zacks Investment Research cut shares of Ciner Resources from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th. DA Davidson restated a “hold” rating and set a $32.50 price target on shares of Ciner Resources in a report on Friday. Finally, Citigroup Inc. cut their price target on shares of Ciner Resources from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, August 8th.
Shares of Ciner Resources (NYSE:CINR) traded up 0.16% on Friday, hitting $30.90. 40,850 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $29.90 and its 200 day moving average is $28.98. The firm has a market cap of $619.61 million, a P/E ratio of 13.08 and a beta of 1.15. Ciner Resources has a 12 month low of $18.81 and a 12 month high of $39.10.
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Ciner Resources (NYSE:CINR) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.56 by $0.04. Ciner Resources had a return on equity of 23.78% and a net margin of 13.04%. The firm had revenue of $116.70 million for the quarter, compared to analysts’ expectations of $117.27 million. The business’s revenue was down 4.9% compared to the same quarter last year. On average, equities analysts predict that Ciner Resources will post $2.29 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Mountain Lake Investment Management LLC raised its stake in shares of Ciner Resources by 41.4% in the first quarter. Mountain Lake Investment Management LLC now owns 247,500 shares of the company’s stock valued at $6,400,000 after buying an additional 72,500 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Ciner Resources by 39.4% in the second quarter. Acadian Asset Management LLC now owns 213,959 shares of the company’s stock valued at $5,994,000 after buying an additional 60,472 shares in the last quarter. U S Global Investors Inc. bought a new stake in shares of Ciner Resources during the second quarter valued at approximately $1,149,000. Renaissance Technologies LLC bought a new stake in shares of Ciner Resources during the first quarter valued at approximately $515,000. Finally, James Investment Research Inc. raised its stake in shares of Ciner Resources by 23.1% in the second quarter. James Investment Research Inc. now owns 89,300 shares of the company’s stock valued at $2,502,000 after buying an additional 16,760 shares in the last quarter. 19.86% of the stock is currently 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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