CNX Coal Resources LP (CNXC) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of CNX Coal Resources LP (NYSE:CNXC) from a hold rating to a buy rating in a research note published on Tuesday. The brokerage currently has $19.00 price objective on the stock.
According to Zacks, “CNX Coal Resources LP is engaged in production of thermal coal. It manages and develops CONSOL Energy’s active thermal coal operations primarily in Pennsylvania. The company sells its coal to electric utilities. CNX Coal Resources LP is based in CANONSBURG, United States. “
Other equities analysts have also issued reports about the stock. Stifel Nicolaus lifted their target price on shares of CNX Coal Resources from $15.00 to $17.00 and gave the company a buy rating in a report on Thursday, July 28th. Jefferies Group reiterated a hold rating and set a $9.00 target price on shares of CNX Coal Resources in a report on Monday, July 11th. Finally, Citigroup Inc. started coverage on shares of CNX Coal Resources in a report on Thursday, July 28th. They set a neutral rating and a $14.00 target price for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $16.43.
CNX Coal Resources (NYSE:CNXC) opened at 16.25 on Tuesday. CNX Coal Resources has a one year low of $5.98 and a one year high of $19.23. The firm’s 50-day moving average price is $14.83 and its 200 day moving average price is $10.86. The company has a market capitalization of $377.36 million, a price-to-earnings ratio of 677.08 and a beta of 2.05.
CNX Coal Resources (NYSE:CNXC) last released its earnings results on Friday, July 29th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.02. CNX Coal Resources had a net margin of 12.85% and a return on equity of 16.14%. On average, equities research analysts expect that CNX Coal Resources will post $0.84 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in CNXC. A.R.T. Advisors LLC purchased a new position in shares of CNX Coal Resources during the second quarter worth $150,000. Renaissance Technologies LLC purchased a new position in shares of CNX Coal Resources during the first quarter worth $698,000. Finally, Mountain Lake Investment Management LLC raised its position in shares of 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 worth $3,052,000 after buying an additional 102,500 shares during the last quarter. Institutional investors own 59.04% of the company’s stock.
CNX Coal Resources Company Profile
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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