Ciner Resources (CINR) Downgraded by ValuEngine
Ciner Resources (NYSE:CINR) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
Several other brokerages have also recently issued reports on CINR. Zacks Investment Research cut Ciner Resources from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. B. Riley decreased their price objective on Ciner Resources from $33.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, August 16th. Finally, Citigroup boosted their price objective on Ciner Resources from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Ciner Resources has a consensus rating of “Hold” and an average price target of $29.75.
Shares of CINR opened at $24.01 on Thursday. Ciner Resources has a one year low of $23.76 and a one year high of $29.36. The company has a quick ratio of 2.64, a current ratio of 2.33 and a debt-to-equity ratio of 0.40. The stock has a market cap of $480.35 million, a price-to-earnings ratio of 11.60 and a beta of 0.79.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CINR. Bank of America Corp DE raised its holdings in Ciner Resources by 110.0% in the 2nd quarter. Bank of America Corp DE now owns 4,200 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 2,200 shares during the period. Renaissance Technologies LLC acquired a new position in Ciner Resources in the 2nd quarter worth about $878,000. Finally, Western Standard LLC raised its holdings in Ciner Resources by 23.6% in the 2nd quarter. Western Standard LLC now owns 58,244 shares of the basic materials company’s stock worth $1,531,000 after purchasing an additional 11,133 shares during the period. 9.12% of the stock is owned by institutional investors.
Ciner Resources Company Profile
Ciner Resources LP engages in the trona ore mining and soda ash production businesses in the United States and internationally. It processes trona ore into soda ash, which is a raw material in flat glass, container glass, detergents, chemicals, paper, and other consumer and industrial products. The company has approximately 23,500 acres of leased and licensed subsurface mining areas in the Green River Basin of Wyoming.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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