Ciner Resources (CINR) Downgraded to Sell at ValuEngine

ValuEngine cut shares of Ciner Resources (NYSE:CINR) from a hold rating to a sell rating in a report published on Monday, ValuEngine reports.

Separately, Zacks Investment Research downgraded shares of Ciner Resources from a buy rating to a hold rating in a research note on Wednesday, January 16th.

Ciner Resources stock opened at $19.50 on Monday. Ciner Resources has a 12-month low of $18.51 and a 12-month high of $28.44. The firm has a market cap of $437.34 million, a P/E ratio of 18.06 and a beta of 0.93. The company has a current ratio of 2.19, a quick ratio of 1.85 and a debt-to-equity ratio of 0.38.

Ciner Resources (NYSE:CINR) last released its quarterly earnings results on Thursday, February 14th. The basic materials company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.08. Ciner Resources had a net margin of 10.25% and a return on equity of 19.80%. The firm had revenue of $132.20 million for the quarter, compared to the consensus estimate of $132.00 million.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 21st will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 6.97%. The ex-dividend date of this dividend is Monday, May 20th. Ciner Resources’s payout ratio is currently 210.19%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in shares of Ciner Resources by 5.7% in the 1st quarter. Wells Fargo & Company MN now owns 388,331 shares of the basic materials company’s stock worth $9,905,000 after purchasing an additional 21,054 shares during the last quarter. Advisory Services Network LLC increased its position in shares of Ciner Resources by 12.4% in the 4th quarter. Advisory Services Network LLC now owns 3,865 shares of the basic materials company’s stock worth $83,000 after purchasing an additional 425 shares during the last quarter. Finally, Knightsbridge Asset Management LLC bought a new stake in shares of Ciner Resources in the 4th quarter worth about $538,000. 10.39% of the stock is owned by institutional investors.

Ciner Resources Company Profile

Ciner Resources LP engages in the trona ore mining and soda ash production businesses in the United States and internationally. It processes trona ore into soda ash, which is a raw material in flat glass, container glass, detergents, chemicals, paper, and other consumer and industrial products. The company has approximately 23,500 acres of leased and licensed subsurface mining areas in the Green River Basin of Wyoming.

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