Jefferies Group Analysts Give CNX Coal Resources LP (CNXC) a $18.00 Price Target
CNX Coal Resources LP (NYSE:CNXC) received a $18.00 price target from investment analysts at Jefferies Group in a research note issued to investors on Wednesday. The brokerage presently has a a “hold” rating on the stock. Jefferies Group’s price target would indicate a potential upside of 7.46% from the stock’s current price.
Several other research firms have also recently weighed in on CNXC. Zacks Investment Research raised shares of CNX Coal Resources from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, September 22nd. Stifel Nicolaus upped their price objective on shares of CNX Coal Resources from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Citigroup Inc. assumed coverage on shares of CNX Coal Resources in a research report on Thursday, July 28th. They set a “neutral” rating and a $14.00 price objective for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. CNX Coal Resources has a consensus rating of “Hold” and a consensus target price of $15.00.
Shares of CNX Coal Resources (NYSE:CNXC) traded up 4.30% during midday trading on Wednesday, hitting $17.47. 252,257 shares of the stock traded hands. CNX Coal Resources has a 52 week low of $5.98 and a 52 week high of $18.00. The company has a market capitalization of $405.69 million, a price-to-earnings ratio of 727.92 and a beta of 2.05. The firm’s 50-day moving average is $14.01 and its 200 day moving average is $10.45.
CNX Coal Resources (NYSE:CNXC) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.02. CNX Coal Resources had a return on equity of 16.14% and a net margin of 12.85%. Equities analysts forecast that CNX Coal Resources will post $0.85 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of CNXC. Howard Hughes Medical Institute raised its position 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 period. A.R.T. Advisors LLC acquired a new position in shares of CNX Coal Resources during the second quarter worth about $150,000. Renaissance Technologies LLC acquired a new position in shares of CNX Coal Resources during the first quarter worth about $698,000. Finally, Mountain Lake Investment Management LLC raised its position 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 period. Institutional investors and hedge funds own 59.04% of the company’s stock.
About CNX Coal Resources
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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