Shares of Ciner Resources LP (NYSE:CINR) reached a new 52-week low during trading on Thursday . The company traded as low as $23.12 and last traded at $23.09, with a volume of 100 shares traded. The stock had previously closed at $23.12.
A number of research firms recently commented on CINR. B. Riley reiterated a “buy” rating and set a $28.00 price objective on shares of Ciner Resources in a research report on Monday, November 26th. Citigroup dropped their price objective on Ciner Resources from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, November 19th. ValuEngine cut Ciner Resources from a “hold” rating to a “sell” rating in a research report on Thursday, November 8th. Finally, Zacks Investment Research cut Ciner Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Ciner Resources has an average rating of “Hold” and an average price target of $28.25.
The company has a debt-to-equity ratio of 0.40, a current ratio of 2.33 and a quick ratio of 2.02. The firm has a market cap of $456.85 million, a P/E ratio of 11.21 and a beta of 0.80.
Ciner Resources (NYSE:CINR) last posted its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.16). The business had revenue of $123.40 million during the quarter, compared to analysts’ expectations of $130.30 million. Ciner Resources had a net margin of 10.19% and a return on equity of 19.76%. On average, analysts forecast that Ciner Resources LP will post 2.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Monday, November 5th were issued a $0.567 dividend. This is a boost from Ciner Resources’s previous quarterly dividend of $0.56. The ex-dividend date was Friday, November 2nd. This represents a $2.27 annualized dividend and a yield of 9.77%. Ciner Resources’s payout ratio is 109.66%.
A number of institutional investors and hedge funds have recently bought and sold shares of CINR. Bank of America Corp DE lifted its stake in shares of 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 valued at $110,000 after purchasing an additional 2,200 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Ciner Resources during the 2nd quarter worth approximately $878,000. Finally, Western Standard LLC lifted its position in Ciner Resources by 23.6% during the 2nd quarter. Western Standard LLC now owns 58,244 shares of the basic materials company’s stock worth $1,531,000 after acquiring an additional 11,133 shares in the last quarter. Institutional investors own 8.69% of the company’s stock.
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About Ciner Resources (NYSE:CINR)
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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