Ciner Resources LP (CINR) Plans $0.57 Quarterly Dividend
Ciner Resources LP (NYSE:CINR) declared a quarterly dividend on Tuesday, October 18th. Investors of record on Friday, October 28th will be paid a dividend of 0.567 per share on Friday, November 11th. This represents a $2.27 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date of this dividend is Wednesday, October 26th.
Shares of Ciner Resources (NYSE:CINR) traded down 0.2866% during trading on Tuesday, reaching $31.0308. The company had a trading volume of 59,675 shares. The firm has a 50-day moving average of $30.38 and a 200-day moving average of $29.28. Ciner Resources has a 12-month low of $18.81 and a 12-month high of $39.10. The company has a market cap of $622.23 million, a P/E ratio of 13.1320 and a beta of 1.15.
Ciner Resources (NYSE:CINR) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business 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 quarterly revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Ciner Resources will post $2.29 EPS for the current year.
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A number of equities research analysts recently weighed in on the company. DA Davidson assumed coverage on Ciner Resources in a research report on Thursday, October 6th. They set a “neutral” rating and a $33.00 target price on the stock. FBR & Co reissued a “buy” rating and set a $35.00 target price on shares of Ciner Resources in a research report on Monday, August 8th. Citigroup Inc. decreased their target price on Ciner Resources from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, August 8th. Finally, Zacks Investment Research downgraded Ciner Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $30.25.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Allianz Asset Management AG acquired a new position in shares of Ciner Resources during the second quarter worth approximately $228,000. Van ECK Associates Corp boosted its position in shares of 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. Finally, KCG Holdings Inc. acquired a new position in shares of Ciner Resources during the second quarter worth approximately $206,000. Hedge funds and other institutional investors own 20.01% of the company’s stock.
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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