Ciner Resources LP (CINR) Downgraded by Zacks Investment Research to Sell
Ciner Resources LP (NYSE:CINR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “Ciner Resources LP, a master limited partnership, producers of natural soda ash. It operates the trona ore mining and soda ash production business primarily in the Green River Basin of Wyoming. Ciner Resources LP, formerly known as OCI Resources LP, is based in ATLANTA, United States. “
A number of other analysts have also recently commented on the stock. Citigroup Inc. restated a “neutral” rating and issued a $25.00 price objective (down previously from $29.00) on shares of Ciner Resources in a research report on Thursday, August 10th. BidaskClub cut Ciner Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, July 6th. Finally, ValuEngine cut Ciner Resources from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Ciner Resources currently has an average rating of “Hold” and a consensus price target of $28.75.
Shares of Ciner Resources (NYSE:CINR) remained flat at $24.00 during trading on Wednesday. The company’s stock had a trading volume of 28,546 shares. Ciner Resources has a 1-year low of $22.61 and a 1-year high of $32.50. The stock has a market cap of $483.10 million, a PE ratio of 12.06 and a beta of 0.97. The stock’s 50-day moving average price is $26.78 and its 200 day moving average price is $28.13.
Ciner Resources (NYSE:CINR) last released its quarterly earnings data on Monday, August 7th. The basic materials company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.12. Ciner Resources had a net margin of 8.18% and a return on equity of 15.65%. The firm had revenue of $119.70 million during the quarter, compared to the consensus estimate of $129.20 million. During the same quarter in the prior year, the company earned $0.52 EPS. Ciner Resources’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts anticipate that Ciner Resources will post $1.93 earnings per share for the current year.
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A number of institutional investors have recently added to or reduced their stakes in CINR. Creative Planning boosted its position in Ciner Resources by 49.4% in the first quarter. Creative Planning now owns 3,735 shares of the basic materials company’s stock worth $107,000 after buying an additional 1,235 shares during the period. Central Bank & Trust Co. purchased a new position in Ciner Resources during the first quarter worth about $181,000. Advisory Services Network LLC purchased a new position in Ciner Resources during the first quarter worth about $305,000. Russell Investments Group Ltd. boosted its position in Ciner Resources by 5.2% in the first quarter. Russell Investments Group Ltd. now owns 21,461 shares of the basic materials company’s stock worth $612,000 after buying an additional 1,059 shares during the period. Finally, Pointe Capital Management LLC purchased a new position in Ciner Resources during the first quarter worth about $737,000. Hedge funds and other institutional investors own 9.04% of the company’s stock.
Ciner Resources Company Profile
Ciner Resources LP, through its subsidiary, Ciner Wyoming LLC (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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