BidaskClub Upgrades Ciner Resources LP (CINR) to Sell

BidaskClub upgraded shares of Ciner Resources LP (NYSE:CINR) from a strong sell rating to a sell rating in a report released on Wednesday morning.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Ciner Resources from a sell rating to a hold rating in a research note on Thursday, May 18th. Citigroup Inc. reaffirmed a neutral rating and issued a $25.00 price objective (down from $29.00) on shares of Ciner Resources in a research report on Thursday, August 10th. Finally, ValuEngine downgraded shares of Ciner Resources from a buy rating to a hold rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Ciner Resources currently has a consensus rating of Hold and an average price target of $28.75.

Ciner Resources (NYSE:CINR) opened at 25.55 on Wednesday. The firm has a market cap of $514.30 million, a P/E ratio of 12.84 and a beta of 0.99. The stock has a 50 day moving average price of $24.72 and a 200-day moving average price of $27.23. Ciner Resources has a 1-year low of $22.61 and a 1-year high of $32.50.

Ciner Resources (NYSE:CINR) last released its earnings results on Monday, August 7th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.12). The firm had revenue of $119.70 million during the quarter, compared to analyst estimates of $129.20 million. Ciner Resources had a net margin of 8.18% and a return on equity of 15.65%. Ciner Resources’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 EPS. Equities research analysts forecast that Ciner Resources will post $1.79 EPS for the current year.

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The company also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were paid a $0.567 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This is a boost from Ciner Resources’s previous quarterly dividend of $0.56. This represents a $2.27 annualized dividend and a yield of 8.88%. Ciner Resources’s dividend payout ratio is currently 114.07%.

Large investors have recently modified their holdings of the company. Advisory Services Network LLC grew its holdings in shares of 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 last quarter. Walthausen & Co. LLC boosted its position in Ciner Resources by 15.1% during the 2nd quarter. Walthausen & Co. LLC now owns 403,860 shares of the basic materials company’s stock valued at $11,066,000 after buying an additional 53,090 shares during the period. California Public Employees Retirement System boosted 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 buying an additional 1,100 shares during the period. FMR LLC boosted its position in Ciner Resources by 97.5% during the 2nd quarter. FMR LLC now owns 285,435 shares of the basic materials company’s stock valued at $7,821,000 after buying an additional 140,931 shares during the period. Finally, Bank of New York Mellon Corp boosted 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 buying an additional 10,150 shares during the period. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

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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