CNX Coal Resources LP (CNXC) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of CNX Coal Resources LP (NYSE:CNXC) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $19.00 target price on the stock.
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. “
A number of other research firms have also recently issued reports on CNXC. Stifel Nicolaus lifted their price target 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 lifted their price target on shares of CNX Coal Resources from $13.00 to $15.00 and gave the company 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 on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. CNX Coal Resources presently has a consensus rating of Buy and a consensus price target of $15.29.
Shares of CNX Coal Resources (NYSE:CNXC) opened at 16.69 on Tuesday. The stock has a market cap of $387.58 million, a PE ratio of 695.42 and a beta of 2.05. The stock’s 50 day moving average is $14.64 and its 200 day moving average is $10.79. CNX Coal Resources has a 52-week low of $5.98 and a 52-week high of $19.23.
CNX Coal Resources (NYSE:CNXC) last posted its earnings results on Friday, July 29th. The company reported $0.11 earnings per share 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%. Equities research analysts forecast that CNX Coal Resources will post $0.84 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of CNXC. A.R.T. Advisors LLC bought a new stake in shares of CNX Coal Resources during the second quarter valued at about $150,000. Renaissance Technologies LLC acquired a new stake in shares of CNX Coal Resources during the first quarter worth about $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 period. Hedge funds and other institutional investors 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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