CNX Coal Resources LP (CNXC) PT Set at $19.00 by FBR & Co
CNX Coal Resources LP (NYSE:CNXC) has been assigned a $19.00 price objective by equities researchers at FBR & Co in a research note issued to investors on Thursday. The firm presently has a a “buy” rating on the stock. FBR & Co’s target price would suggest a potential upside of 18.75% from the stock’s current price.
Several other brokerages also recently issued reports on CNXC. Jefferies Group set a $18.00 price target on CNX Coal Resources and gave the stock a “hold” rating in a report on Wednesday, October 5th. Zacks Investment Research raised CNX Coal Resources from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday. Stifel Nicolaus raised their price target on CNX Coal Resources from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Citigroup Inc. began coverage on CNX Coal Resources in a report on Thursday, July 28th. They issued a “neutral” rating and a $14.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. CNX Coal Resources has an average rating of “Buy” and an average target price of $16.43.
Shares of CNX Coal Resources (NYSE:CNXC) traded up 2.69% on Thursday, reaching $16.43. The company had a trading volume of 124,284 shares. The company has a market capitalization of $381.54 million, a price-to-earnings ratio of 684.58 and a beta of 2.05. The stock has a 50 day moving average price of $14.73 and a 200-day moving average price of $10.82. CNX Coal Resources has a 12 month low of $5.98 and a 12 month high of $19.23.
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CNX Coal Resources (NYSE:CNXC) last issued its earnings results on Friday, July 29th. The company reported $0.11 EPS 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%. Analysts forecast that CNX Coal Resources will post $0.84 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. A.R.T. Advisors LLC purchased a new stake in CNX Coal Resources during the second quarter worth approximately $150,000. Mountain Lake Investment Management LLC increased 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 worth $3,052,000 after buying an additional 102,500 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in CNX Coal Resources during the first quarter worth approximately $698,000. 59.04% of the stock is currently owned by hedge funds and other institutional investors.
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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