CNX Coal Resources LP (NYSE:CNXC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $19.00 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 18.75% from the stock’s previous close.
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 equities analysts have also issued research reports about the company. Stifel Nicolaus raised their price objective on CNX Coal Resources from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Jefferies Group reissued a “hold” rating and set a $9.00 price target on shares of CNX Coal Resources in a report on Monday, July 11th. Finally, Citigroup Inc. assumed coverage on CNX Coal Resources in a report on Thursday, July 28th. They set a “neutral” rating and a $14.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $15.29.
Shares of CNX Coal Resources (NYSE:CNXC) opened at 16.00 on Tuesday. The stock has a market capitalization of $371.55 million, a price-to-earnings ratio of 666.67 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 firm’s 50-day moving average price is $14.73 and its 200 day moving average price is $10.82.
CNX Coal Resources (NYSE:CNXC) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the 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 research analysts expect that CNX Coal Resources will post $0.84 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in CNXC. A.R.T. Advisors LLC purchased a new stake in shares of CNX Coal Resources during the second quarter worth approximately $150,000. Renaissance Technologies LLC purchased a new stake in shares of CNX Coal Resources during the first quarter worth approximately $698,000. Finally, Mountain Lake Investment Management LLC increased 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 last quarter. Hedge funds and other institutional investors own 59.04% of the company’s stock.
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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