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.

WARNING: “Ciner Resources (CINR) Raised to “Buy” at ValuEngine” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2017/12/04/ciner-resources-cinr-raised-to-buy-at-valuengine.html.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Ciner Resources LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciner Resources LP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply