DA Davidson Reiterates Hold Rating for Ciner Resources LP (CINR)
Ciner Resources LP (NYSE:CINR)‘s stock had its “hold” rating reiterated by research analysts at DA Davidson in a report released on Friday. They currently have a $32.50 price target on the stock. DA Davidson’s target price would indicate a potential upside of 5.35% from the stock’s previous close.
A number of other brokerages have also issued reports on CINR. FBR & Co restated a “buy” rating and issued a $35.00 price target on shares of Ciner Resources in a research note on Monday, August 8th. Zacks Investment Research lowered shares of Ciner Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. Finally, Citigroup Inc. dropped their price target on shares of Ciner Resources from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $30.25.
Shares of Ciner Resources (NYSE:CINR) traded down 0.71% during trading on Friday, reaching $30.63. 21,904 shares of the company’s stock were exchanged. The company’s 50-day moving average is $29.90 and its 200 day moving average is $28.98. Ciner Resources has a 52 week low of $18.81 and a 52 week high of $39.10. The stock has a market capitalization of $614.19 million, a PE ratio of 12.96 and a beta of 1.15.
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Ciner Resources (NYSE:CINR) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $116.70 million for the quarter, compared to analysts’ expectations of $117.27 million. Ciner Resources had a net margin of 13.04% and a return on equity of 23.78%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, analysts forecast that Ciner Resources will post $2.29 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in CINR. Mountain Lake Investment Management LLC increased its position in Ciner Resources by 1.0% in the second quarter. Mountain Lake Investment Management LLC now owns 250,000 shares of the company’s stock worth $7,005,000 after buying an additional 2,500 shares in the last quarter. Acadian Asset Management LLC increased its position in Ciner Resources by 39.4% in the second quarter. Acadian Asset Management LLC now owns 213,959 shares of the company’s stock worth $5,994,000 after buying an additional 60,472 shares in the last quarter. Van ECK Associates Corp increased its position in Ciner Resources by 2.4% in the second quarter. Van ECK Associates Corp now owns 154,453 shares of the company’s stock worth $4,328,000 after buying an additional 3,626 shares in the last quarter. James Investment Research Inc. increased its position in Ciner Resources by 23.1% in the second quarter. James Investment Research Inc. now owns 89,300 shares of the company’s stock worth $2,502,000 after buying an additional 16,760 shares in the last quarter. Finally, U S Global Investors Inc. acquired a new position in Ciner Resources during the second quarter worth approximately $1,149,000. 19.86% of the stock is owned by hedge funds and other institutional investors.
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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