Ciner Resources LP (CINR) Research Coverage Started at DA Davidson
Analysts at DA Davidson assumed coverage on shares of Ciner Resources LP (NYSE:CINR) in a report issued on Thursday, The Fly reports. The brokerage set a “neutral” rating on the stock.
A number of other brokerages have also recently issued reports on CINR. FBR & Co restated a “buy” rating and set a $35.00 price objective 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. decreased their price objective on shares of Ciner Resources from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, August 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $29.80.
Shares of Ciner Resources (NYSE:CINR) traded down 0.71% on Thursday, reaching $30.85. The company’s stock had a trading volume of 34,966 shares. Ciner Resources has a 1-year low of $18.81 and a 1-year high of $39.10. The stock has a 50-day moving average of $29.84 and a 200 day moving average of $28.97. The stock has a market capitalization of $618.60 million, a PE ratio of 13.06 and a beta of 1.15.
Ciner Resources (NYSE:CINR) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.04. The firm had revenue of $116.70 million for the quarter, compared to analyst estimates of $117.27 million. Ciner Resources had a net margin of 13.04% and a return on equity of 23.78%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, equities analysts forecast that Ciner Resources will post $2.29 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new position in Ciner Resources during the first quarter valued at $515,000. Mountain Lake Investment Management LLC raised its stake in shares of 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 stake in shares of 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 stake in shares of 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 stake in shares of 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 own 19.86% of the company’s stock.
Ciner Resources Company Profile
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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