Ciner Resources LP (CINR) Upgraded to “Sell” at BidaskClub
BidaskClub upgraded shares of Ciner Resources LP (NYSE:CINR) from a strong sell rating to a sell rating in a report released on Wednesday.
CINR has been the subject of several other reports. ValuEngine lowered Ciner Resources from a buy rating to a hold rating in a research report on Friday, June 2nd. Zacks Investment Research lowered Ciner Resources from a hold rating to a sell rating in a research report on Wednesday, August 16th. Finally, Citigroup Inc. reissued a neutral rating and issued a $25.00 price target (down from $29.00) on shares of Ciner Resources in a research report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $28.75.
Ciner Resources (NYSE:CINR) traded up 0.62% during trading on Wednesday, reaching $25.85. The company’s stock had a trading volume of 6,356 shares. Ciner Resources has a 12-month low of $22.61 and a 12-month high of $32.50. The firm’s 50-day moving average price is $24.91 and its 200 day moving average price is $27.27. The company has a market capitalization of $520.33 million, a P/E ratio of 12.99 and a beta of 0.99.
Ciner Resources (NYSE:CINR) last released its quarterly earnings results on Monday, August 7th. The basic materials company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.12). The company 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 was up 2.6% on a year-over-year basis. During the same period 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 fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were paid a dividend of $0.567 per share. This represents a $2.27 annualized dividend and a yield of 8.83%. The ex-dividend date of this dividend was Thursday, August 3rd. This is an increase from Ciner Resources’s previous quarterly dividend of $0.56. Ciner Resources’s payout ratio is presently 114.07%.
Institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC grew its stake in Ciner Resources by 0.3% during the 2nd quarter. Advisory Services Network LLC now owns 10,723 shares of the basic materials company’s stock valued at $294,000 after purchasing an additional 32 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Ciner Resources by 5.2% during the 1st quarter. Russell Investments Group Ltd. now owns 21,461 shares of the basic materials company’s stock valued at $612,000 after purchasing an additional 1,059 shares during the last quarter. Pointe Capital Management LLC purchased a new stake in Ciner Resources during the 1st quarter valued at about $737,000. U S Global Investors Inc grew its stake in Ciner Resources by 29.1% during the 1st quarter. U S Global Investors Inc now owns 46,200 shares of the basic materials company’s stock valued at $1,318,000 after purchasing an additional 10,400 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Ciner Resources by 55.0% during the 1st quarter. Bank of New York Mellon Corp now owns 60,871 shares of the basic materials company’s stock valued at $1,737,000 after purchasing an additional 21,591 shares during the last quarter. Institutional investors and hedge funds own 9.29% of the company’s stock.
Ciner Resources Company Profile
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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