Other equities research analysts have also recently issued research reports about the stock. Jefferies Group reaffirmed a hold rating and set a $9.00 price objective on shares of CNX Coal Resources in a research note on Monday, July 11th. Citigroup Inc. started coverage on shares of CNX Coal Resources in a research note on Thursday, July 28th. They set a neutral rating and a $14.00 price objective on the stock. Zacks Investment Research cut shares of CNX Coal Resources from a strong-buy rating to a hold rating in a research note on Thursday, July 21st. Finally, Stifel Nicolaus raised their price objective on shares of CNX Coal Resources from $15.00 to $17.00 and gave the stock a buy rating in a research note on Thursday, July 28th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $16.43.
Shares of CNX Coal Resources (NYSE:CNXC) opened at 16.90 on Thursday. The stock has a market cap of $392.45 million, a P/E ratio of 704.17 and a beta of 2.05. CNX Coal Resources has a 1-year low of $5.98 and a 1-year high of $19.23. The company’s 50-day moving average is $15.13 and its 200-day moving average is $11.12.
CNX Coal Resources (NYSE:CNXC) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.02. CNX Coal Resources had a return on equity of 16.14% and a net margin of 12.85%. Equities analysts expect that CNX Coal Resources will post $0.84 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. A.R.T. Advisors LLC bought a new stake in CNX Coal Resources during the second quarter worth about $150,000. Renaissance Technologies LLC purchased a new position in shares of CNX Coal Resources during the first quarter worth $698,000. Finally, Mountain Lake Investment Management LLC raised its position in shares of CNX Coal Resources by 31.8% in the first quarter. Mountain Lake Investment Management LLC now owns 425,000 shares of the company’s stock worth $3,052,000 after buying an additional 102,500 shares during the last quarter. 59.04% of the stock is currently owned by hedge funds and other institutional investors.
About CNX Coal Resources
CNX Coal Resources LP is a producer of thermal coal in the Northern Appalachian Basin and the eastern United States. The Company is engaged in the management and development of the thermal coal operations of CONSOL Energy Inc (CONSOL Energy) in Pennsylvania. The Company’s assets include interests in CONSOL Energy’s Pennsylvania mining complex, which consists of approximately three underground mines and related infrastructure that produce bituminous thermal coal that is sold primarily to electric utilities in the eastern United States.
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