ValuEngine Downgrades Ciner Resources (CINR) to Sell

Ciner Resources (NYSE:CINR) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Other research analysts also recently issued reports about the company. Citigroup lifted their price target on Ciner Resources from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, August 9th. B. Riley cut their price target on Ciner Resources from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Finally, Zacks Investment Research downgraded Ciner Resources from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $29.75.

Shares of NYSE CINR opened at $24.01 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.33 and a quick ratio of 2.64. The firm has a market cap of $480.35 million, a price-to-earnings ratio of 11.60 and a beta of 0.79. Ciner Resources has a twelve month low of $23.76 and a twelve month high of $29.36.

Ciner Resources (NYSE:CINR) last issued its earnings results on Monday, November 5th. The basic materials company reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.16). The firm had revenue of $123.40 million for the quarter, compared to the consensus estimate of $130.30 million. Ciner Resources had a net margin of 10.19% and a return on equity of 19.76%. Research analysts expect that Ciner Resources will post 2.62 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of Ciner Resources in the 2nd quarter valued at $878,000. Western Standard LLC grew its stake 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 buying an additional 11,133 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Ciner Resources by 110.0% during the 2nd quarter. Bank of America Corp DE now owns 4,200 shares of the basic materials company’s stock worth $110,000 after buying an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 9.12% of the company’s stock.

Ciner Resources Company Profile

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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