Ciner Resources LP (NYSE:CINR) Receives Consensus Rating of “Hold” from Brokerages
Shares of Ciner Resources LP (NYSE:CINR) have earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $29.90.
Several brokerages have commented on CINR. DA Davidson reissued a “hold” rating and set a $32.50 price target on shares of Ciner Resources in a research report on Friday. Zacks Investment Research cut shares of Ciner Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. FBR & Co reissued a “buy” rating and set a $35.00 price target on shares of Ciner Resources in a research report on Monday, August 8th. Finally, Citigroup Inc. cut their price target on shares of Ciner Resources from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, August 8th.
Ciner Resources (NYSE:CINR) traded up 0.16% during midday trading on Friday, reaching $30.90. The company had a trading volume of 40,850 shares. The stock’s 50 day moving average price is $29.90 and its 200-day moving average price is $28.98. Ciner Resources has a one year low of $18.81 and a one year high of $39.10. The firm has a market capitalization of $619.61 million, a P/E ratio of 13.08 and a beta of 1.15.
Ciner Resources (NYSE:CINR) last announced its earnings results on Thursday, August 4th. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.04. The company earned $116.70 million during the quarter, compared to analyst estimates of $117.27 million. Ciner Resources had a return on equity of 23.78% and a net margin of 13.04%. The firm’s revenue was down 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Ciner Resources will post $2.29 earnings per share for the current year.
Several large investors have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new stake in shares of Ciner Resources during the second quarter worth about $104,000. Acrospire Investment Management LLC boosted its stake in shares of Ciner Resources by 45.0% in the second quarter. Acrospire Investment Management LLC now owns 3,958 shares of the company’s stock worth $111,000 after buying an additional 1,229 shares during the last quarter. KCG Holdings Inc. purchased a new stake in shares of Ciner Resources during the second quarter worth about $206,000. Allianz Asset Management AG purchased a new stake in shares of Ciner Resources during the second quarter worth about $228,000. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Ciner Resources during the third quarter worth about $263,000. 19.86% of the stock is currently owned by institutional investors.
Ciner Resources Company Profile
Ciner Resources LP, formerly OCI Resources LP, owns a controlling interest consisting of 51% membership interest in Ciner Wyoming LLC (Ciner Wyoming). 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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