CNX Coal Resources LP (NYSE:CNXC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a $17.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.88% 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. “
Several other equities research analysts have also commented on the company. Jefferies Group restated a “hold” rating and set a $9.00 price target on shares of CNX Coal Resources in a research note on Monday, July 11th. Citigroup Inc. initiated coverage on CNX Coal Resources in a research note on Thursday, July 28th. They set a “neutral” rating and a $14.00 price target for the company. Finally, Stifel Nicolaus upped their price target on CNX Coal Resources from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $14.57.
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CNX Coal Resources (NYSE:CNXC) traded up 0.74% during midday trading on Thursday, reaching $15.06. The company had a trading volume of 46,288 shares. CNX Coal Resources has a 12 month low of $5.98 and a 12 month high of $15.55. The firm’s 50-day moving average price is $13.36 and its 200 day moving average price is $9.87. The firm has a market capitalization of $349.72 million, a PE ratio of 627.50 and a beta of 2.08.
CNX Coal Resources (NYSE:CNXC) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ 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 analysts anticipate that CNX Coal Resources will post $0.85 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. A.R.T. Advisors LLC acquired a new position in shares of CNX Coal Resources during the second quarter worth approximately $150,000. Mountain Lake Investment Management LLC increased its position 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 in the last quarter. Renaissance Technologies LLC acquired a new position in shares of CNX Coal Resources during the first quarter worth approximately $698,000. Finally, Howard Hughes Medical Institute increased its position in shares of CNX Coal Resources by 20.4% in the first quarter. Howard Hughes Medical Institute now owns 37,552 shares of the company’s stock worth $270,000 after buying an additional 6,353 shares in the last quarter. 59.04% of the stock is owned by hedge funds and other institutional investors.
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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