Ciner Resources LP (NYSE:CINR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Ciner Resources LP, a master limited partnership, producers of natural soda ash. It operates the trona ore mining and soda ash production business primarily in the Green River Basin of Wyoming. Ciner Resources LP, formerly known as OCI Resources LP, is based in ATLANTA, United States. “
A number of other research firms have also recently issued reports on CINR. BidaskClub cut Ciner Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 6th. Citigroup Inc. reiterated a “neutral” rating and issued a $25.00 target price (down from $29.00) on shares of Ciner Resources in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $25.00.
Shares of Ciner Resources (NYSE CINR) traded down 2.13% during trading on Monday, reaching $25.25. 37,011 shares of the company’s stock traded hands. Ciner Resources has a 1-year low of $22.61 and a 1-year high of $32.50. The company has a 50 day moving average of $24.82 and a 200-day moving average of $26.81. The company has a market capitalization of $508.26 million, a price-to-earnings ratio of 12.69 and a beta of 1.00.
Ciner Resources (NYSE:CINR) last posted its earnings results on Monday, August 7th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 8.18% and a return on equity of 15.65%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share. Equities analysts predict that Ciner Resources will post $1.79 earnings per share for the current year.
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Hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC lifted its stake in Ciner Resources by 0.3% in the second quarter. Advisory Services Network LLC now owns 10,723 shares of the basic materials company’s stock valued at $294,000 after buying an additional 32 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Ciner Resources by 5.2% in the first quarter. Russell Investments Group Ltd. now owns 21,461 shares of the basic materials company’s stock valued at $612,000 after buying an additional 1,059 shares during the last quarter. Pointe Capital Management LLC bought a new stake in Ciner Resources in the first quarter valued at $737,000. Bank of New York Mellon Corp lifted its stake in Ciner Resources by 55.0% in the first 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 buying an additional 21,591 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in Ciner Resources by 1.2% in the second quarter. California Public Employees Retirement System now owns 91,100 shares of the basic materials company’s stock valued at $2,496,000 after buying an additional 1,100 shares during the last quarter. Institutional investors own 9.29% of the company’s stock.
About Ciner Resources
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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