DA Davidson began coverage on shares of Ciner Resources LP (NYSE:CINR) in a research report sent to investors on Thursday. The brokerage issued a neutral rating and a $33.00 price objective on the stock.
CINR has been the topic of a number of other reports. Zacks Investment Research lowered Ciner Resources from a hold rating to a sell rating in a research note on Tuesday, August 9th. Citigroup Inc. cut their price target on Ciner Resources from $30.00 to $29.00 and set a neutral rating on the stock in a research note on Monday, August 8th. Finally, FBR & Co reissued a buy rating and set a $35.00 price target on shares of Ciner Resources in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $30.25.
Shares of Ciner Resources (NYSE:CINR) opened at 31.41 on Thursday. The company’s 50-day moving average price is $30.10 and its 200-day moving average price is $29.13. Ciner Resources has a 1-year low of $18.81 and a 1-year high of $39.10. The company has a market capitalization of $629.83 million, a PE ratio of 13.29 and a beta of 1.15.
Ciner Resources (NYSE:CINR) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.04. Ciner Resources had a net margin of 13.04% and a return on equity of 23.78%. The firm had revenue of $116.70 million for the quarter, compared to analyst estimates of $117.27 million. Ciner Resources’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities analysts expect that Ciner Resources will post $2.29 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in CINR. Acrospire Investment Management LLC raised its position in Ciner Resources by 45.0% in the second quarter. Acrospire Investment Management LLC now owns 3,958 shares of the company’s stock worth $111,000 after buying an additional 1,229 shares in the last quarter. 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. U S Global Investors Inc. bought a new position in Ciner Resources during the second quarter worth approximately $1,149,000. Renaissance Technologies LLC bought a new position in Ciner Resources during the first quarter worth approximately $515,000. Finally, KCG Holdings Inc. bought a new position in Ciner Resources during the second quarter worth approximately $206,000. 19.95% of the stock is currently owned by hedge funds and other institutional investors.
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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