Shares of Ciner Resources LP (NYSE:CINR) have been assigned an average recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $28.50.
CINR has been the topic of several analyst reports. ValuEngine raised shares of Ciner Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. SunTrust Banks reissued a “hold” rating on shares of Ciner Resources in a research report on Tuesday, December 19th. Finally, Zacks Investment Research raised Ciner Resources from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, January 2nd.
Shares of Ciner Resources (CINR) opened at $28.37 on Tuesday. The company has a market cap of $573.36, a P/E ratio of 13.64 and a beta of 0.89. 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 has a 12-month low of $22.61 and a 12-month high of $29.75.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Monday, February 12th were given a $0.567 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 7.99%. The ex-dividend date of this dividend was Friday, February 9th. Ciner Resources’s payout ratio is 109.13%.
A number of hedge funds and other institutional investors have recently made changes to their positions in CINR. Wells Fargo & Company MN raised its position in Ciner Resources by 80,992.0% in the third quarter. Wells Fargo & Company MN now owns 162,184 shares of the basic materials company’s stock valued at $4,063,000 after purchasing an additional 161,984 shares during the period. Atlantic Trust Group LLC raised its position in Ciner Resources by 79.5% in the third quarter. Atlantic Trust Group LLC now owns 126,182 shares of the basic materials company’s stock valued at $3,161,000 after purchasing an additional 55,903 shares during the period. Employees Retirement System of Texas raised its position in Ciner Resources by 100.0% in the fourth quarter. Employees Retirement System of Texas now owns 70,000 shares of the basic materials company’s stock valued at $1,765,000 after purchasing an additional 35,000 shares during the period. Western Standard LLC purchased a new stake in Ciner Resources in the third quarter valued at approximately $816,000. Finally, Deutsche Bank AG raised its position in Ciner Resources by 267.8% in the fourth quarter. Deutsche Bank AG now owns 33,100 shares of the basic materials company’s stock valued at $831,000 after purchasing an additional 24,100 shares during the period. 10.03% of the stock is currently owned by institutional investors.
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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