Ciner Resources LP (NYSE:CINR)‘s stock had its “hold” rating reissued by investment analysts at DA Davidson in a report released on Friday. They presently have a $32.50 price target on the stock. DA Davidson’s target price suggests a potential upside of 4.91% from the stock’s current price.
Several other research firms have also issued reports on CINR. FBR & Co reiterated a “buy” rating and set a $35.00 target price on shares of Ciner Resources in a report on Monday, August 8th. Zacks Investment Research lowered Ciner Resources from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Finally, Citigroup Inc. dropped their target price on Ciner Resources from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Ciner Resources presently has a consensus rating of “Hold” and an average target price of $30.25.
Shares of Ciner Resources (NYSE:CINR) opened at 30.56 on Friday. The firm has a market cap of $612.79 million, a price-to-earnings ratio of 12.93 and a beta of 1.15. Ciner Resources has a one year low of $18.81 and a one year high of $39.10. The stock’s 50 day moving average price is $30.02 and its 200 day moving average price is $29.11.
Ciner Resources (NYSE:CINR) last released its earnings results on Thursday, August 4th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $116.70 million for the quarter, compared to the consensus estimate of $117.27 million. The company’s revenue was down 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Ciner Resources will post $2.29 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in CINR. Mountain Lake Investment Management LLC raised its stake in Ciner Resources by 1.0% in the second quarter. Mountain Lake Investment Management LLC now owns 250,000 shares of the company’s stock valued at $7,005,000 after buying an additional 2,500 shares in the last quarter. Acadian Asset Management LLC raised its stake in Ciner Resources by 39.4% in the second quarter. Acadian Asset Management LLC now owns 213,959 shares of the company’s stock valued at $5,994,000 after buying an additional 60,472 shares in the last quarter. Van ECK Associates Corp raised its stake in Ciner Resources by 2.4% in the second quarter. Van ECK Associates Corp now owns 154,453 shares of the company’s stock valued at $4,328,000 after buying an additional 3,626 shares in the last quarter. James Investment Research Inc. raised its stake in Ciner Resources by 23.1% in the second quarter. James Investment Research Inc. now owns 89,300 shares of the company’s stock valued at $2,502,000 after buying an additional 16,760 shares in the last quarter. Finally, U S Global Investors Inc. acquired a new stake in Ciner Resources during the second quarter valued at about $1,149,000. Hedge funds and other institutional investors own 19.95% of the company’s stock.
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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