Ciner Resources LP (NYSE:CINR) declared a quarterly dividend on Friday, February 2nd, Wall Street Journal reports. Shareholders of record on Monday, February 12th will be given a dividend of 0.567 per share by the basic materials company on Tuesday, February 27th. This represents a $2.27 dividend on an annualized basis and a yield of 8.65%. The ex-dividend date is Friday, February 9th.
Ciner Resources has a dividend payout ratio of 115.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Ciner Resources to earn $2.29 per share next year, which means the company should continue to be able to cover its $2.27 annual dividend with an expected future payout ratio of 99.1%.
Ciner Resources (NYSE:CINR) opened at $26.22 on Friday. Ciner Resources has a 1-year low of $22.61 and a 1-year high of $31.25. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.08 and a current ratio of 3.48. The stock has a market capitalization of $517.22, a PE ratio of 13.80 and a beta of 0.99.
A number of equities analysts have recently commented on the stock. ValuEngine upgraded shares of Ciner Resources from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded shares of Ciner Resources from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Tuesday, January 2nd. SunTrust Banks reiterated a “hold” rating on shares of Ciner Resources in a research note on Tuesday, December 19th. Finally, B. Riley reiterated a “buy” rating on shares of Ciner Resources in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $26.50.
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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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