Zacks Investment Research Downgrades CNX Coal Resources LP (CNXC) to Hold
CNX Coal Resources LP (NYSE:CNXC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
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. “
Several other equities analysts have also recently commented on CNXC. Stifel Nicolaus boosted their price objective on shares of CNX Coal Resources from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Jefferies Group boosted their price target on shares of CNX Coal Resources from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Tuesday, September 20th. Finally, Citigroup Inc. started coverage on shares of CNX Coal Resources in a research note on Thursday, July 28th. They issued a “neutral” rating and a $14.00 price target for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. CNX Coal Resources presently has a consensus rating of “Hold” and a consensus price target of $14.57.
Shares of CNX Coal Resources (NYSE:CNXC) opened at 15.15 on Monday. The stock’s 50 day moving average is $13.56 and its 200 day moving average is $10.13. The firm has a market capitalization of $351.81 million, a PE ratio of 631.25 and a beta of 2.08. CNX Coal Resources has a 52-week low of $5.98 and a 52-week high of $15.55.
CNX Coal Resources (NYSE:CNXC) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.11 EPS for the quarter, missing the 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 forecast that CNX Coal Resources will post $0.85 EPS for the current year.
Large investors have recently made changes to their positions in the company. A.R.T. Advisors LLC acquired a new stake in shares of CNX Coal Resources during the second quarter worth $150,000. Howard Hughes Medical Institute raised its stake in shares of CNX Coal Resources by 20.4% in the first quarter. Howard Hughes Medical Institute now owns 37,552 shares of the company’s stock worth $270,000 after buying an additional 6,353 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of CNX Coal Resources during the first quarter worth $698,000. Finally, Mountain Lake Investment Management LLC raised its stake 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. Hedge funds and other 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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