Ciner Resources LP (CINR) Receives Consensus Rating of “Hold” from Brokerages

Shares of Ciner Resources LP (NYSE:CINR) have earned an average rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $25.00.

Several equities research analysts have recently weighed in on the company. ValuEngine upgraded Ciner Resources from a “hold” rating to a “buy” rating in a research report on Friday. B. Riley reissued a “buy” rating on shares of Ciner Resources in a report on Wednesday, November 1st. Zacks Investment Research lowered Ciner Resources from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Citigroup reissued a “neutral” rating and set a $25.00 price objective (down previously from $29.00) on shares of Ciner Resources in a report on Thursday, August 10th. Finally, BidaskClub raised Ciner Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th.

Shares of Ciner Resources (CINR) opened at $26.17 on Friday. Ciner Resources has a 52-week low of $22.61 and a 52-week high of $32.50. The firm has a market capitalization of $526.68, a PE ratio of 13.68 and a beta of 0.99. The company has a current ratio of 3.48, a quick ratio of 3.08 and a debt-to-equity ratio of 0.55.

Ciner Resources (NYSE:CINR) last announced its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.03). Ciner Resources had a net margin of 7.77% and a return on equity of 15.13%. The company had revenue of $122.50 million for the quarter, compared to the consensus estimate of $118.10 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. sell-side analysts predict that Ciner Resources will post 1.97 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, November 6th were issued a dividend of $0.567 per share. This is a positive change from Ciner Resources’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $2.27 annualized dividend and a dividend yield of 8.67%. Ciner Resources’s payout ratio is presently 119.47%.

Several hedge funds and other institutional investors have recently modified their holdings of CINR. Bank of New York Mellon Corp grew its holdings in shares of Ciner Resources by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 71,021 shares of the basic materials company’s stock worth $1,946,000 after purchasing an additional 10,150 shares in the last quarter. FMR LLC boosted its stake in Ciner Resources by 97.5% in the second quarter. FMR LLC now owns 285,435 shares of the basic materials company’s stock worth $7,821,000 after buying an additional 140,931 shares in the last quarter. California Public Employees Retirement System boosted its stake in Ciner Resources by 1.2% in the second quarter. California Public Employees Retirement System now owns 91,100 shares of the basic materials company’s stock worth $2,496,000 after buying an additional 1,100 shares in the last quarter. Walthausen & Co. LLC boosted its stake in Ciner Resources by 15.1% in the second quarter. Walthausen & Co. LLC now owns 403,860 shares of the basic materials company’s stock worth $11,066,000 after buying an additional 53,090 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Ciner Resources by 0.3% in the second quarter. Advisory Services Network LLC now owns 10,723 shares of the basic materials company’s stock worth $294,000 after buying an additional 32 shares in the last quarter. 9.11% of the stock is owned by institutional investors.

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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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