Ciner Resources LP (CINR) Stock Rating Upgraded by BidaskClub
Ciner Resources LP (NYSE:CINR) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Wednesday.
Other analysts have also recently issued research reports about the company. ValuEngine cut Ciner Resources from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised Ciner Resources from a “sell” rating to a “hold” rating in a report on Thursday, May 18th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $25.00 price target (down previously from $29.00) on shares of Ciner Resources in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Ciner Resources currently has an average rating of “Hold” and an average price target of $28.75.
Ciner Resources (CINR) traded up 0.20% on Wednesday, reaching $25.55. The company had a trading volume of 12,759 shares. Ciner Resources has a 12-month low of $22.61 and a 12-month high of $32.50. The stock has a market capitalization of $504.13 million, a P/E ratio of 12.90 and a beta of 0.99. The stock’s 50-day moving average price is $24.72 and its 200-day moving average price is $27.23.
Ciner Resources (NYSE:CINR) last released its quarterly earnings results on Monday, August 7th. The basic materials company reported $0.41 earnings per share for the quarter, missing the 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 business had revenue of $119.70 million during the quarter, compared to analysts’ expectations of $129.20 million. During the same period in the previous year, the business earned $0.52 EPS. The business’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Ciner Resources will post $1.79 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in CINR. FMR LLC purchased a new position in shares of Ciner Resources during the 1st quarter valued at about $4,123,000. Walthausen & Co. LLC raised its holdings in shares of Ciner Resources by 40.0% during the 1st quarter. Walthausen & Co. LLC now owns 350,770 shares of the basic materials company’s stock valued at $10,007,000 after buying an additional 100,280 shares in the last quarter. Pointe Capital Management LLC purchased a new position in shares of Ciner Resources during the 1st quarter valued at about $737,000. Bank of New York Mellon Corp raised its holdings in shares of Ciner Resources by 55.0% during the 1st quarter. Bank of New York Mellon Corp now owns 60,871 shares of the basic materials company’s stock valued at $1,737,000 after buying an additional 21,591 shares in the last quarter. Finally, U S Global Investors Inc raised its holdings in shares of Ciner Resources by 29.1% during the 1st quarter. U S Global Investors Inc now owns 46,200 shares of the basic materials company’s stock valued at $1,318,000 after buying an additional 10,400 shares in the last quarter. 9.29% of the stock is currently owned by institutional investors.
About Ciner Resources
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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