Renaissance Technologies LLC lowered its holdings in shares of Ciner Resources LP (NYSE:CINR) by 31.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,018 shares of the basic materials company’s stock after selling 10,400 shares during the period. Renaissance Technologies LLC owned approximately 0.12% of Ciner Resources worth $622,000 at the end of the most recent reporting period.
Separately, Bank of America Corp DE boosted its stake in Ciner Resources by 110.0% during the second quarter. Bank of America Corp DE now owns 4,200 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 2,200 shares in the last quarter. 8.69% of the stock is owned by institutional investors and hedge funds.
Shares of Ciner Resources stock opened at $25.10 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.33 and a quick ratio of 2.02. The stock has a market capitalization of $485.88 million, a price-to-earnings ratio of 10.08 and a beta of 0.95. Ciner Resources LP has a 52-week low of $19.66 and a 52-week high of $29.36.
Ciner Resources (NYSE:CINR) last issued its earnings results on Monday, November 5th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.16). The firm had revenue of $123.40 million during the quarter, compared to analysts’ expectations of $130.30 million. Ciner Resources had a return on equity of 19.76% and a net margin of 10.19%. As a group, research analysts predict that Ciner Resources LP will post 2.4 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Monday, February 11th will be issued a $0.567 dividend. The ex-dividend date of this dividend is Friday, February 8th. This represents a $2.27 annualized dividend and a yield of 9.04%. Ciner Resources’s dividend payout ratio (DPR) is presently 109.66%.
Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Ciner Resources from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. ValuEngine raised shares of Ciner Resources from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. B. Riley reaffirmed a “buy” rating and issued a $28.00 target price on shares of Ciner Resources in a report on Monday, November 26th. Finally, Citigroup decreased their target price on shares of Ciner Resources from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, November 19th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Ciner Resources has an average rating of “Hold” and an average target price of $26.50.
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About Ciner Resources
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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