Ciner Resources (CINR) Cut to “Sell” at ValuEngine

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ValuEngine lowered shares of Ciner Resources (NYSE:CINR) from a hold rating to a sell rating in a research note issued to investors on Monday, ValuEngine reports.

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

Shares of Ciner Resources stock opened at $19.15 on Monday. Ciner Resources has a 1 year low of $18.51 and a 1 year high of $28.44. The company has a market cap of $375.06 million, a price-to-earnings ratio of 17.73 and a beta of 0.93. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.93 and a quick ratio of 1.85.

Ciner Resources (NYSE:CINR) last announced its earnings results on Thursday, February 14th. The basic materials company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. Ciner Resources had a net margin of 10.51% and a return on equity of 20.22%. The business had revenue of $132.20 million during the quarter, compared to analyst estimates of $132.00 million.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Tuesday, May 21st will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 7.10%. The ex-dividend date is Monday, May 20th. Ciner Resources’s dividend payout ratio (DPR) is presently 210.19%.

Hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC raised its stake in shares of Ciner Resources by 12.4% during the fourth quarter. Advisory Services Network LLC now owns 3,865 shares of the basic materials company’s stock worth $83,000 after acquiring an additional 425 shares in the last quarter. Knightsbridge Asset Management LLC purchased a new position in shares of Ciner Resources in the fourth quarter worth $538,000. HighTower Advisors LLC purchased a new position in shares of Ciner Resources in the first quarter worth $264,000. Morgan Stanley increased its stake in shares of Ciner Resources by 11.4% in the first quarter. Morgan Stanley now owns 38,322 shares of the basic materials company’s stock worth $978,000 after buying an additional 3,934 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Ciner Resources by 5.7% in the first quarter. Wells Fargo & Company MN now owns 388,331 shares of the basic materials company’s stock worth $9,905,000 after buying an additional 21,054 shares during the period. 10.38% of the stock is currently owned by hedge funds and other 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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