Ciner Resources LP (CINR) Plans $0.57 Quarterly Dividend
Ciner Resources LP (NYSE:CINR) declared a quarterly dividend on Tuesday, October 18th. Investors of record on Friday, October 28th will be paid a dividend of 0.567 per share on Friday, November 11th. This represents a $2.27 annualized dividend and a yield of 7.26%. The ex-dividend date is Wednesday, October 26th.
Shares of Ciner Resources (NYSE:CINR) traded down 0.2866% during trading on Tuesday, reaching $31.0308. The company had a trading volume of 59,675 shares. The stock has a market capitalization of $622.23 million, a PE ratio of 13.1320 and a beta of 1.15. Ciner Resources has a 12 month low of $18.81 and a 12 month high of $39.10. The stock’s 50-day moving average price is $30.38 and its 200-day moving average price is $29.28.
Ciner Resources (NYSE:CINR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Ciner Resources had a net margin of 13.04% and a return on equity of 23.78%. The firm had revenue of $116.70 million for the quarter, compared to analyst estimates of $117.27 million. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. Equities analysts forecast that Ciner Resources will post $2.29 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of CINR. KCG Holdings Inc. acquired a new position in shares of Ciner Resources during the second quarter worth about $206,000. Van ECK Associates Corp raised its position in shares of Ciner Resources by 2.4% in the second quarter. Van ECK Associates Corp now owns 154,453 shares of the company’s stock worth $4,328,000 after buying an additional 3,626 shares during the period. Finally, Allianz Asset Management AG acquired a new position in shares of Ciner Resources during the second quarter worth about $228,000. 20.01% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on CINR shares. DA Davidson started coverage on Ciner Resources in a research note on Thursday, October 6th. They set a “neutral” rating and a $33.00 price objective on the stock. Zacks Investment Research cut Ciner Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Citigroup Inc. dropped their price target on Ciner Resources from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, August 8th. Finally, FBR & Co reiterated a “buy” rating and set a $35.00 price target on shares of Ciner Resources in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $30.25.
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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