Zacks Investment Research upgraded shares of Ciner Resources LP (NYSE:CINR) from a sell rating to a hold rating in a research report released on Monday morning.
According to Zacks, “Ciner Resources LP, a master limited partnership, producers of natural soda ash. It operates the trona ore mining and soda ash production business primarily in the Green River Basin of Wyoming. Ciner Resources LP, formerly known as OCI Resources LP, is based in ATLANTA, United States. “
A number of other equities research analysts also recently weighed in on CINR. BidaskClub downgraded Ciner Resources from a sell rating to a strong sell rating in a report on Thursday, July 6th. Citigroup Inc. reiterated a neutral rating and issued a $25.00 target price (down from $29.00) on shares of Ciner Resources in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Ciner Resources has an average rating of Hold and a consensus price target of $25.00.
Shares of Ciner Resources (NYSE:CINR) traded up 0.32% during mid-day trading on Monday, reaching $25.33. The company’s stock had a trading volume of 4,729 shares. The firm has a market cap of $509.87 million, a PE ratio of 12.73 and a beta of 1.00. Ciner Resources has a 12 month low of $22.61 and a 12 month high of $32.50. The company has a 50-day moving average of $24.82 and a 200-day moving average of $26.81.
Ciner Resources (NYSE:CINR) last issued its earnings results on Monday, August 7th. The basic materials company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.12). The business had revenue of $119.70 million during the quarter, compared to the consensus estimate of $129.20 million. Ciner Resources had a return on equity of 15.65% and a net margin of 8.18%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, analysts predict that Ciner Resources will post $1.79 earnings per share for the current year.
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A number of hedge funds have recently modified their holdings of CINR. Russell Investments Group Ltd. increased its holdings in Ciner Resources by 5.2% in the first quarter. Russell Investments Group Ltd. now owns 21,461 shares of the basic materials company’s stock worth $612,000 after purchasing an additional 1,059 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Ciner Resources by 55.0% in the first quarter. Bank of New York Mellon Corp now owns 60,871 shares of the basic materials company’s stock worth $1,737,000 after purchasing an additional 21,591 shares in the last quarter. FMR LLC bought a new stake in Ciner Resources in the first quarter worth approximately $4,123,000. Pointe Capital Management LLC bought a new stake in Ciner Resources in the first quarter worth approximately $737,000. Finally, California Public Employees Retirement System increased its holdings in Ciner Resources by 1.2% in the second quarter. California Public Employees Retirement System now owns 91,100 shares of the basic materials company’s stock worth $2,496,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 9.29% of the company’s stock.
About Ciner Resources
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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