CNX Coal Resources LP (NYSE:CNXC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “CNX Coal Resources LP is engaged in production of thermal coal. It manages and develops CONSOL Energy’s active thermal coal operations primarily in Pennsylvania. The company sells its coal to electric utilities. CNX Coal Resources LP is based in CANONSBURG, United States. “
Other analysts have also recently issued research reports about the company. Stifel Nicolaus increased their target price on CNX Coal Resources from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Jefferies Group reiterated a “hold” rating and set a $9.00 target price on shares of CNX Coal Resources in a research report on Monday, July 11th. Finally, Citigroup Inc. initiated coverage on CNX Coal Resources in a research report on Thursday, July 28th. They set a “neutral” rating and a $14.00 target price for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $14.57.
Shares of CNX Coal Resources (NYSE:CNXC) opened at 15.15 on Monday. CNX Coal Resources has a 12-month low of $5.98 and a 12-month high of $15.55. The firm has a 50-day moving average price of $13.56 and a 200 day moving average price of $10.13. The stock has a market cap of $351.81 million, a PE ratio of 631.25 and a beta of 2.08.
CNX Coal Resources (NYSE:CNXC) last released its earnings results on Friday, July 29th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by $0.02. CNX Coal Resources had a return on equity of 16.14% and a net margin of 12.85%. Equities research analysts expect that CNX Coal Resources will post $0.85 earnings per share for the current year.
Several large investors have recently bought and sold shares of CNXC. Howard Hughes Medical Institute raised its stake in CNX Coal Resources by 20.4% in the first quarter. Howard Hughes Medical Institute now owns 37,552 shares of the company’s stock valued at $270,000 after buying an additional 6,353 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in CNX Coal Resources during the second quarter valued at about $150,000. Renaissance Technologies LLC bought a new stake in CNX Coal Resources during the first quarter valued at about $698,000. Finally, Mountain Lake Investment Management LLC raised its stake in CNX Coal Resources by 31.8% in the first quarter. Mountain Lake Investment Management LLC now owns 425,000 shares of the company’s stock valued at $3,052,000 after buying an additional 102,500 shares during the last quarter. 59.04% of the stock is owned by institutional investors and hedge funds.
CNX Coal Resources Company Profile
CNX Coal Resources LP is a producer of thermal coal in the Northern Appalachian Basin and the eastern United States. The Company is engaged in the management and development of the thermal coal operations of CONSOL Energy Inc (CONSOL Energy) in Pennsylvania. The Company’s assets include interests in CONSOL Energy’s Pennsylvania mining complex, which consists of approximately three underground mines and related infrastructure that produce bituminous thermal coal that is sold primarily to electric utilities in the eastern United States.
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