U S Global Investors Inc. Sells 22,608 Shares of Ciner Resources LP (CINR)
U S Global Investors Inc. lessened its stake in Ciner Resources LP (NYSE:CINR) by 48.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,592 shares of the basic materials company’s stock after selling 22,608 shares during the quarter. U S Global Investors Inc. owned about 0.12% of Ciner Resources worth $646,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in Ciner Resources by 5.2% during the first quarter. Russell Investments Group Ltd. now owns 21,461 shares of the basic materials company’s stock worth $612,000 after acquiring an additional 1,059 shares during the last quarter. Pointe Capital Management LLC acquired a new stake in Ciner Resources during the first quarter worth $737,000. Bank of New York Mellon Corp increased its stake in Ciner Resources by 55.0% during 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 acquiring an additional 21,591 shares during the last quarter. California Public Employees Retirement System increased its stake in Ciner Resources by 1.2% during 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 acquiring an additional 1,100 shares during the last quarter. Finally, FMR LLC acquired a new stake in Ciner Resources during the first quarter worth $4,123,000. 9.29% of the stock is owned by hedge funds and other institutional investors.
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Ciner Resources LP (NYSE CINR) traded up 0.2724% during midday trading on Friday, reaching $25.8001. The company’s stock had a trading volume of 38,657 shares. The stock has a market capitalization of $519.33 million, a PE ratio of 12.9649 and a beta of 1.00. The firm’s 50-day moving average price is $24.82 and its 200-day moving average price is $26.82. Ciner Resources LP has a 52 week low of $22.61 and a 52 week high of $32.50.
Ciner Resources (NYSE:CINR) last released its quarterly earnings data on Monday, August 7th. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.12). The firm had revenue of $119.70 million for the quarter, compared to analyst estimates of $129.20 million. Ciner Resources had a return on equity of 15.65% and a net margin of 8.18%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, analysts anticipate that Ciner Resources LP will post $1.79 earnings per share for the current year.
Several equities research analysts have issued reports on the company. Zacks Investment Research cut Ciner Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Citigroup Inc. reissued a “neutral” rating and set a $25.00 target price (down previously from $29.00) on shares of Ciner Resources in a research note on Thursday, August 10th. Finally, BidaskClub cut Ciner Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Ciner Resources presently has an average rating of “Hold” and an average price target of $25.00.
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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