CNX Coal Resources LP (NYSE:CNXC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
According to Zacks, “CNX Coal Resources LP is engaged in production of thermal coal. It manages and develops CONSOL Energy’s active thermal coal operations primarily in Pennsylvania. The company sells its coal to electric utilities. CNX Coal Resources LP is based in CANONSBURG, United States. “
Other analysts have also recently issued research reports about the stock. Citigroup Inc. assumed coverage on shares of CNX Coal Resources in a research report on Thursday, July 28th. They set a “neutral” rating and a $14.00 price objective on the stock. Jefferies Group restated a “hold” rating and set a $9.00 price objective on shares of CNX Coal Resources in a research report on Monday, July 11th. Finally, Stifel Nicolaus raised their price objective on shares of CNX Coal Resources from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. CNX Coal Resources currently has an average rating of “Hold” and a consensus target price of $14.57.
Shares of CNX Coal Resources (NYSE:CNXC) traded down 1.32% during trading on Monday, hitting $14.98. 44,917 shares of the stock traded hands. The company has a 50 day moving average price of $13.45 and a 200 day moving average price of $9.97. The firm has a market cap of $347.87 million, a price-to-earnings ratio of 624.17 and a beta of 2.08. CNX Coal Resources has a 12 month low of $5.98 and a 12 month high of $15.55.
CNX Coal Resources (NYSE:CNXC) last posted its quarterly earnings data 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 net margin of 12.85% and a return on equity of 16.14%. Analysts anticipate that CNX Coal Resources will post $0.85 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in CNXC. Mountain Lake Investment Management LLC raised its stake 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 period. Renaissance Technologies LLC purchased a new stake in shares of CNX Coal Resources during the first quarter worth about $698,000. Howard Hughes Medical Institute raised its stake in shares of 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 period. Finally, A.R.T. Advisors LLC purchased a new stake in shares of CNX Coal Resources during the second quarter worth about $150,000. 59.04% of the stock is currently owned by institutional investors.
CNX Coal Resources Company Profile
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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