Zacks Investment Research lowered shares of Paringa Resources (OTCMKTS:PNGZF) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

According to Zacks, “Paringa Resources Ltd. is involved in the exploration and development of resource projects. It primarily explores for coal. The company’s principal project consists of Poplar Grove Mine, the Cypress Mine and the Buck Creek coal mining complex primarily in the Illinois coal basin in western Kentucky. Paringa Resources Ltd. is headquartered in Evansville, Indiana. “

Shares of PNGZF opened at $0.15 on Friday. Paringa Resources has a 1-year low of $0.12 and a 1-year high of $0.45.

Paringa Resources Company Profile

Paringa Resources Limited, together with its subsidiaries, engages in the exploration and development of resource projects. The company holds interests in the Buck Creek coal mines complex, which include the Poplar Grove Mine and the Cypress Mine located in the Illinois coal basin in western Kentucky.

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