Several other analysts have also commented on the company. Citigroup Inc. started coverage on CNX Coal Resources in a research note on Thursday, July 28th. They issued a neutral rating and a $14.00 price target on the stock. Zacks Investment Research lowered CNX Coal Resources from a strong-buy rating to a hold rating in a research note on Thursday, July 21st. Finally, Stifel Nicolaus boosted their price objective on CNX Coal Resources from $15.00 to $17.00 and gave the stock a buy rating in a research note on Thursday, July 28th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $15.00.
CNX Coal Resources (NYSE:CNXC) opened at 17.12 on Wednesday. CNX Coal Resources has a 12-month low of $5.98 and a 12-month high of $19.23. The company’s 50-day moving average price is $14.41 and its 200-day moving average price is $10.62. The firm has a market capitalization of $397.56 million, a price-to-earnings ratio of 713.33 and a beta of 2.03.
CNX Coal Resources (NYSE:CNXC) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.02. CNX Coal Resources had a net margin of 12.85% and a return on equity of 16.14%. Equities analysts expect that CNX Coal Resources will post $0.84 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Mountain Lake Investment Management LLC increased its stake in 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. Renaissance Technologies LLC purchased a new stake in CNX Coal Resources during the first quarter worth $698,000. Howard Hughes Medical Institute increased its stake in CNX Coal Resources by 20.4% in the first quarter. Howard Hughes Medical Institute now owns 37,552 shares of the company’s stock worth $270,000 after buying an additional 6,353 shares during the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in CNX Coal Resources during the second quarter worth $150,000. Institutional investors own 59.04% of the company’s stock.
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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