Ciner Resources LP (CINR) Given Average Recommendation of “Buy” by Brokerages
Shares of Ciner Resources LP (NYSE:CINR) have been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the firm. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $32.13.
Separately, Zacks Investment Research upgraded Ciner Resources from a “sell” rating to a “hold” rating in a research report on Monday, December 5th.
Ciner Resources (NYSE:CINR) traded down 3.91% during trading on Friday, hitting $29.71. The stock had a trading volume of 87,351 shares. Ciner Resources has a 52 week low of $20.76 and a 52 week high of $39.10. The firm has a market cap of $595.74 million, a PE ratio of 13.12 and a beta of 1.13. The company’s 50-day moving average is $30.88 and its 200 day moving average is $30.32.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 13th. Shareholders of record on Tuesday, January 31st were given a dividend of $0.567 per share. The ex-dividend date of this dividend was Friday, January 27th. This represents a $2.27 dividend on an annualized basis and a yield of 7.34%. Ciner Resources’s payout ratio is presently 100.00%.
A number of large investors have recently made changes to their positions in CINR. Acrospire Investment Management LLC raised its stake in shares of Ciner Resources by 7.6% in the third quarter. Acrospire Investment Management LLC now owns 4,258 shares of the company’s stock worth $133,000 after buying an additional 300 shares during the last quarter. Mountain Lake Investment Management LLC increased its stake 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 during the period. U S Global Investors Inc. increased its stake in Ciner Resources by 8.8% in the third quarter. U S Global Investors Inc. now owns 44,600 shares of the company’s stock worth $1,388,000 after buying an additional 3,600 shares during the period. MSI Financial Services Inc increased its stake in Ciner Resources by 401.7% in the third quarter. MSI Financial Services Inc now owns 6,372 shares of the company’s stock worth $198,000 after buying an additional 5,102 shares during the period. Finally, Advisory Services Network LLC increased its stake in Ciner Resources by 161.0% in the third quarter. Advisory Services Network LLC now owns 9,697 shares of the company’s stock worth $302,000 after buying an additional 5,981 shares during the period. Hedge funds and other institutional investors own 19.07% of the company’s stock.
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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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