Zacks Investment Research Downgrades Ciner Resources LP (CINR) to Sell
Ciner Resources LP (NYSE:CINR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Ciner Resources LP, a master limited partnership, producers of natural soda ash. It operates the trona ore mining and soda ash production business primarily in the Green River Basin of Wyoming. Ciner Resources LP, formerly known as OCI Resources LP, is based in ATLANTA, United States. “
CINR has been the topic of several other reports. 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 target on the stock. Citigroup Inc. lowered their price target on Ciner Resources from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, August 8th. Finally, FBR & Co restated a “buy” rating and set a $35.00 price target on shares of Ciner Resources in a research note on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $30.25.
Shares of Ciner Resources (NYSE:CINR) opened at 30.08 on Tuesday. The company has a market cap of $603.16 million, a P/E ratio of 12.73 and a beta of 1.16. Ciner Resources has a 52 week low of $18.81 and a 52 week high of $39.10. The firm’s 50-day moving average price is $30.69 and its 200 day moving average price is $29.64.
Ciner Resources (NYSE:CINR) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by $0.01. The business earned $121 million during the quarter, compared to the consensus estimate of $118.66 million. Ciner Resources had a return on equity of 22.91% and a net margin of 12.52%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. On average, equities analysts predict that Ciner Resources will post $2.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 11th. Stockholders of record on Friday, October 28th will be paid a $0.567 dividend. The ex-dividend date is Wednesday, October 26th. This represents a $2.27 annualized dividend and a dividend yield of 7.46%. Ciner Resources’s dividend payout ratio is currently 100.00%.
Several large investors have recently added to or reduced their stakes in CINR. Mountain Lake Investment Management LLC raised its stake in Ciner Resources by 41.4% in the first quarter. Mountain Lake Investment Management LLC now owns 247,500 shares of the company’s stock valued at $6,400,000 after buying an additional 72,500 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Ciner Resources by 3.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 28,550 shares of the company’s stock valued at $738,000 after buying an additional 915 shares in the last quarter. James Investment Research Inc. raised its stake in Ciner Resources by 23.1% in the second quarter. James Investment Research Inc. now owns 89,300 shares of the company’s stock valued at $2,502,000 after buying an additional 16,760 shares in the last quarter. Acadian Asset Management LLC raised its stake in Ciner Resources by 39.4% in the second quarter. Acadian Asset Management LLC now owns 213,959 shares of the company’s stock valued at $5,994,000 after buying an additional 60,472 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in Ciner Resources during the second quarter valued at $104,000. Institutional investors own 20.31% of the company’s stock.
About Ciner Resources
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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