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

Ciner Resources LP (NYSE:CINR) was the recipient of a large increase in short interest in 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. Based on an average daily trading volume, of 33,100 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.9% of the shares of the company are short sold.

Shares of Ciner Resources stock traded down $0.22 during mid-day trading on Friday, hitting $16.10. 11,500 shares of the stock were exchanged, compared to its average volume of 26,634. Ciner Resources has a 12 month low of $14.87 and a 12 month high of $27.95. The company has a 50-day simple moving average of $15.82 and a 200 day simple moving average of $19.98. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.85 and a current ratio of 3.28. The company has a market capitalization of $320.58 million, a P/E ratio of 6.87 and a beta of 1.07.

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

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

Institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC lifted its position in shares of 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 buying an additional 5,616 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Ciner Resources in the 2nd quarter worth approximately $289,000. Russell Investments Group Ltd. raised its holdings in shares of Ciner Resources by 21.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 19,263 shares of the basic materials company’s stock worth $360,000 after purchasing an additional 3,400 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Ciner Resources by 8.7% in the 2nd quarter. Acadian Asset Management LLC now owns 156,623 shares of the basic materials company’s stock worth $3,037,000 after purchasing an additional 12,574 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Ciner Resources by 1,820.7% in the 2nd quarter. Morgan Stanley now owns 736,042 shares of the basic materials company’s stock worth $14,272,000 after purchasing an additional 697,720 shares during the period. 10.61% of the stock is currently owned by hedge funds and other institutional investors.

Separately, TheStreet cut shares of Ciner Resources from a “b-” rating to a “c+” rating in a research report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.00.

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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