Ciner Resources LP (NYSE:CINR) declared a quarterly dividend on Tuesday, October 18th. Shareholders of record on Friday, October 28th will be paid a dividend of 0.567 per share on Friday, November 11th. This represents a $2.27 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date is Wednesday, October 26th.
Ciner Resources (NYSE:CINR) opened at 31.0308 on Wednesday. The firm has a market cap of $622.23 million, a price-to-earnings ratio of 13.1320 and a beta of 1.15. The firm’s 50-day moving average is $30.44 and its 200-day moving average is $29.31. Ciner Resources has a 52 week low of $18.81 and a 52 week high of $39.10.
Ciner Resources (NYSE:CINR) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by $0.04. Ciner Resources had a net margin of 13.04% and a return on equity of 23.78%. The company had revenue of $116.70 million for the quarter, compared to analyst estimates of $117.27 million. The company’s revenue was down 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Ciner Resources will post $2.29 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in CINR. Van ECK Associates Corp increased its position in shares of Ciner Resources by 2.4% in the second quarter. Van ECK Associates Corp now owns 154,453 shares of the company’s stock worth $4,328,000 after buying an additional 3,626 shares in the last quarter. Allianz Asset Management AG purchased a new position in shares of Ciner Resources during the second quarter worth about $228,000. Finally, KCG Holdings Inc. purchased a new position in shares of Ciner Resources during the second quarter worth about $206,000. Hedge funds and other institutional investors own 20.01% of the company’s stock.
A number of brokerages have weighed in on CINR. DA Davidson reiterated a “hold” rating and set a $32.50 price target on shares of Ciner Resources in a research report on Friday, October 7th. Citigroup Inc. lifted their price target on shares of Ciner Resources from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. FBR & Co reiterated a “buy” rating and set a $35.00 price target on shares of Ciner Resources in a research report on Monday, August 8th. Finally, Zacks Investment Research cut shares of Ciner Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $30.25.
About Ciner Resources
Ciner Resources LP, formerly OCI Resources LP, owns a controlling interest consisting of 51% membership interest in Ciner Wyoming LLC (Ciner Wyoming). 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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