CNX Coal Resources LP (CNXC) Given a $18.00 Price Target by Jefferies Group Analysts
A number of other equities analysts have also commented on the company. Citigroup Inc. initiated coverage on CNX Coal Resources in a research note on Thursday, July 28th. They issued a neutral rating and a $14.00 price objective on the stock. Zacks Investment Research lowered CNX Coal Resources from a strong-buy rating to a hold rating in a research note on Thursday, July 21st. Finally, Stifel Nicolaus lifted their price objective on CNX Coal Resources from $15.00 to $17.00 and gave the stock a buy rating in a research note on Thursday, July 28th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $15.00.
CNX Coal Resources (NYSE:CNXC) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.02. CNX Coal Resources had a return on equity of 16.14% and a net margin of 12.85%.
Several large investors have recently added to or reduced their stakes in CNXC. Renaissance Technologies LLC purchased a new stake in CNX Coal Resources during the first quarter valued at approximately $698,000. Mountain Lake Investment Management LLC increased its stake in CNX Coal Resources by 31.8% in the first quarter. Mountain Lake Investment Management LLC now owns 425,000 shares of the company’s stock valued at $3,052,000 after buying an additional 102,500 shares in the last quarter. Howard Hughes Medical Institute increased its stake in CNX Coal Resources by 20.4% in the first quarter. Howard Hughes Medical Institute now owns 37,552 shares of the company’s stock valued at $270,000 after buying an additional 6,353 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in CNX Coal Resources during the second quarter valued at approximately $150,000. Hedge funds and other institutional investors own 59.04% of the company’s stock.
About CNX Coal Resources
CNX Coal Resources LP is a producer of thermal coal in the Northern Appalachian Basin and the eastern United States. The Company is engaged in the management and development of the thermal coal operations of CONSOL Energy Inc (CONSOL Energy) in Pennsylvania. The Company’s assets include interests in CONSOL Energy’s Pennsylvania mining complex, which consists of approximately three underground mines and related infrastructure that produce bituminous thermal coal that is sold primarily to electric utilities in the eastern United States.
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