Shares of Ciner Resources LP (NYSE:CINR) have been given an average broker rating score of 1.00 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus target price of $33.00 for the company and are forecasting that the company will post $0.60 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Ciner Resources an industry rank of 37 out of 265 based on the ratings given to related companies.
CINR has been the topic of a number of research reports. FBR & Co reaffirmed a “buy” rating and issued a $35.00 price target on shares of Ciner Resources in a report on Monday, August 8th. Zacks Investment Research cut shares of Ciner Resources from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Finally, Citigroup Inc. lowered their price target on shares of Ciner Resources from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, August 8th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in Ciner Resources during the first quarter worth $515,000. Mountain Lake Investment Management LLC raised its position in Ciner Resources by 41.4% in the first quarter. Mountain Lake Investment Management LLC now owns 247,500 shares of the company’s stock worth $6,400,000 after buying an additional 72,500 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Ciner Resources by 3.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 28,550 shares of the company’s stock worth $738,000 after buying an additional 915 shares in the last quarter. James Investment Research Inc. raised its position in Ciner Resources by 23.1% in the second quarter. James Investment Research Inc. now owns 89,300 shares of the company’s stock worth $2,502,000 after buying an additional 16,760 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in Ciner Resources by 39.4% in the second quarter. Acadian Asset Management LLC now owns 213,959 shares of the company’s stock worth $5,994,000 after buying an additional 60,472 shares in the last quarter. Institutional investors and hedge funds own 19.86% of the company’s stock.
Shares of Ciner Resources (NYSE:CINR) opened at 31.13 on Tuesday. The firm’s 50-day moving average price is $29.60 and its 200 day moving average price is $28.82. The company has a market capitalization of $624.22 million, a PE ratio of 13.17 and a beta of 1.17. Ciner Resources has a 1-year low of $18.81 and a 1-year high of $39.10.
Ciner Resources (NYSE:CINR) last posted its earnings results on Thursday, August 4th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Ciner Resources had a return on equity of 23.78% and a net margin of 13.04%. The firm had revenue of $116.70 million for the quarter, compared to the consensus estimate of $117.27 million. Ciner Resources’s quarterly revenue was down 4.9% on a year-over-year basis. Equities analysts predict that Ciner Resources will post $2.29 EPS for the current fiscal year.
About Ciner Resources
Ciner Resources LP, formerly OCI Resources LP, owns a controlling interest consisting of 51% membership interest in Ciner Wyoming LLC (Ciner Wyoming). 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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