Ciner Resources (CINR) Raised to “Buy” at ValuEngine
ValuEngine upgraded shares of Ciner Resources (NYSE:CINR) from a hold rating to a buy rating in a research report released on Friday.
Several other research analysts also recently commented on the stock. B. Riley reaffirmed a buy rating on shares of Ciner Resources in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Ciner Resources from a sell rating to a hold rating in a research note on Monday, October 16th. BidaskClub raised shares of Ciner Resources from a strong sell rating to a sell rating in a research note on Wednesday, September 13th. Finally, Citigroup reaffirmed a neutral rating and issued a $25.00 price target (down previously from $29.00) on shares of Ciner Resources in a research note on Thursday, August 10th. One 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’s stock. The stock presently has an average rating of Hold and a consensus target price of $25.00.
Shares of Ciner Resources (CINR) traded up $0.17 on Friday, hitting $26.17. 28,800 shares of the stock traded hands, compared to its average volume of 24,130. Ciner Resources has a 1-year low of $22.61 and a 1-year high of $32.50. The stock has a market capitalization of $516.23, a P/E ratio of 13.77 and a beta of 1.00. The company has a current ratio of 3.48, a quick ratio of 3.08 and a debt-to-equity ratio of 0.55.
Ciner Resources (NYSE:CINR) last announced its earnings results on Monday, November 6th. The basic materials company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.03). Ciner Resources had a net margin of 7.77% and a return on equity of 15.13%. The firm had revenue of $122.50 million during the quarter, compared to analysts’ expectations of $118.10 million. During the same period in the prior year, the company posted $0.56 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. sell-side analysts forecast that Ciner Resources will post 1.97 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 6th were paid a $0.567 dividend. This represents a $2.27 annualized dividend and a yield of 8.67%. The ex-dividend date of this dividend was Friday, November 3rd. This is an increase from Ciner Resources’s previous quarterly dividend of $0.56. Ciner Resources’s dividend payout ratio (DPR) is currently 119.47%.
Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC increased its position in Ciner Resources by 0.3% during the 2nd quarter. Advisory Services Network LLC now owns 10,723 shares of the basic materials company’s stock valued at $294,000 after purchasing an additional 32 shares during the period. Western Standard LLC purchased a new position in Ciner Resources during the 3rd quarter valued at about $816,000. Bank of New York Mellon Corp increased its position in Ciner Resources by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,021 shares of the basic materials company’s stock valued at $1,946,000 after purchasing an additional 10,150 shares during the period. California Public Employees Retirement System increased its position in Ciner Resources by 1.2% during the 2nd quarter. California Public Employees Retirement System now owns 91,100 shares of the basic materials company’s stock valued at $2,496,000 after purchasing an additional 1,100 shares during the period. Finally, Midas Management Corp increased its position in Ciner Resources by 17.4% during the 3rd quarter. Midas Management Corp now owns 111,302 shares of the basic materials company’s stock valued at $2,788,000 after purchasing an additional 16,500 shares during the period. 9.00% of the stock is currently owned by institutional investors.
About Ciner Resources
Ciner Resources LP, through its subsidiary, Ciner Wyoming LLC (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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