Ciner Resources LP (NYSE:CINR) Sees Significant Growth in Short Interest

Ciner Resources LP (NYSE:CINR) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 38,600 shares, an increase of 41.9% from the July 31st total of 27,200 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily volume of 33,100 shares, the short-interest ratio is presently 1.2 days.

NYSE:CINR traded down $0.22 during trading hours on Friday, hitting $16.10. 11,500 shares of the company were exchanged, compared to its average volume of 26,634. The stock has a market capitalization of $320.58 million, a price-to-earnings ratio of 6.87 and a beta of 1.07. The company has a current ratio of 3.28, a quick ratio of 2.85 and a debt-to-equity ratio of 0.53. Ciner Resources has a one year low of $14.87 and a one year high of $27.95. The company has a fifty day simple moving average of $15.82 and a 200 day simple moving average of $19.98.

Ciner Resources (NYSE:CINR) last issued its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.56 earnings per share for the quarter. Ciner Resources had a return on equity of 17.76% and a net margin of 9.03%. The firm had revenue of $129.80 million during the quarter.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Friday, August 9th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.36 dividend on an annualized basis and a yield of 8.45%.

Separately, TheStreet lowered Ciner Resources from a “b-” rating to a “c+” rating in a research report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Ciner Resources has an average rating of “Hold” and an average price target of $26.00.

Institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC grew its holdings in Ciner Resources by 8.7% during the 2nd quarter. Acadian Asset Management LLC now owns 156,623 shares of the basic materials company’s stock worth $3,037,000 after acquiring an additional 12,574 shares during the period. Advisory Services Network LLC grew its holdings in Ciner Resources by 145.3% during the 1st quarter. Advisory Services Network LLC now owns 9,481 shares of the basic materials company’s stock worth $242,000 after acquiring an additional 5,616 shares during the period. Morgan Stanley grew its holdings in Ciner Resources by 1,820.7% during the 2nd quarter. Morgan Stanley now owns 736,042 shares of the basic materials company’s stock worth $14,272,000 after acquiring an additional 697,720 shares during the period. JPMorgan Chase & Co. acquired a new stake in Ciner Resources during the 2nd quarter worth about $289,000. Finally, Russell Investments Group Ltd. grew its holdings in Ciner Resources by 21.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 19,263 shares of the basic materials company’s stock worth $360,000 after acquiring an additional 3,400 shares during the period. Hedge funds and other institutional investors own 10.61% of the company’s stock.

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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