Ciner Resources LP (CINR) Rating Lowered to Sell at Zacks Investment Research
Ciner Resources LP (NYSE:CINR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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 subject of several other research reports. BidaskClub lowered Ciner Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, July 6th. ValuEngine lowered Ciner Resources from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $25.00 price objective (down previously from $29.00) on shares of Ciner Resources in a report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $28.75.
Shares of Ciner Resources (NYSE CINR) remained flat at $24.00 during midday trading on Wednesday. 28,546 shares of the stock traded hands. The stock has a 50-day moving average of $26.78 and a 200-day moving average of $28.13. Ciner Resources has a one year low of $22.61 and a one year high of $32.50. The stock has a market cap of $483.10 million, a price-to-earnings ratio of 12.06 and a beta of 0.97.
Ciner Resources (NYSE:CINR) last announced its quarterly earnings data on Monday, August 7th. The basic materials company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.53 by $0.12. Ciner Resources had a return on equity of 15.65% and a net margin of 8.18%. The firm had revenue of $119.70 million during the quarter, compared to analysts’ expectations of $129.20 million. During the same period last year, the business posted $0.52 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. Equities analysts predict that Ciner Resources will post $1.93 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of CINR. Walthausen & Co. LLC raised its position in Ciner Resources by 15.1% in the second quarter. Walthausen & Co. LLC now owns 403,860 shares of the basic materials company’s stock worth $11,066,000 after buying an additional 53,090 shares during the last quarter. California Public Employees Retirement System raised its position in Ciner Resources by 1.2% in the second quarter. California Public Employees Retirement System now owns 91,100 shares of the basic materials company’s stock worth $2,496,000 after buying an additional 1,100 shares during the last quarter. FMR LLC raised its position in Ciner Resources by 97.5% in the second quarter. FMR LLC now owns 285,435 shares of the basic materials company’s stock worth $7,821,000 after buying an additional 140,931 shares during the last quarter. Bank of New York Mellon Corp raised its position in Ciner Resources by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 71,021 shares of the basic materials company’s stock worth $1,946,000 after buying an additional 10,150 shares during the last quarter. Finally, Pointe Capital Management LLC bought a new position in Ciner Resources during the first quarter worth $737,000. 9.04% of the stock is owned by institutional investors and hedge funds.
Ciner Resources Company Profile
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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