CNX Coal Resources LP (NYSE:CNXC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $19.00 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 13.84% from the stock’s current price.

According to Zacks, “CNX Coal Resources LP is engaged in production of thermal coal. It manages and develops CONSOL Energy’s active thermal coal operations primarily in Pennsylvania. The company sells its coal to electric utilities. CNX Coal Resources LP is based in CANONSBURG, United States. “

Other equities analysts also recently issued reports about the company. Jefferies Group set a $18.00 price target on CNX Coal Resources and gave the company a “hold” rating in a report on Wednesday, October 5th. Citigroup Inc. assumed coverage on CNX Coal Resources in a report on Thursday, July 28th. They issued a “neutral” rating and a $14.00 price target for the company. Finally, Stifel Nicolaus upped their price target on CNX Coal Resources from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $15.29.

Analyst Recommendations for CNX Coal Resources (NYSE:CNXC)

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CNX Coal Resources (NYSE:CNXC) traded up 0.54% during trading on Tuesday, hitting $16.69. 50,603 shares of the stock traded hands. The stock has a market cap of $387.58 million, a P/E ratio of 695.42 and a beta of 2.03. The firm’s 50-day moving average is $14.52 and its 200-day moving average is $10.74. CNX Coal Resources has a 12 month low of $5.98 and a 12 month high of $19.23.

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 net margin of 12.85% and a return on equity of 16.14%. On average, analysts forecast that CNX Coal Resources will post $0.84 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in CNX Coal Resources during the first quarter valued at approximately $698,000. Mountain Lake Investment Management LLC boosted its stake 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 period. Finally, A.R.T. Advisors LLC bought a new stake in CNX Coal Resources during the second quarter valued at approximately $150,000. Institutional investors and hedge funds 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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