Zacks Investment Research upgraded shares of CNX Coal Resources LP (NYSE:CNXC) from a hold rating to a buy rating in a research note released on Tuesday morning. They currently have $19.00 target price on the stock.
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 research firms also recently commented on CNXC. Jefferies Group increased their price objective on CNX Coal Resources from $11.00 to $13.00 and gave the company a hold rating in a report on Tuesday, August 23rd. Citigroup Inc. started coverage on CNX Coal Resources in a report on Thursday, July 28th. They issued a neutral rating and a $14.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on CNX Coal Resources from $15.00 to $17.00 and gave the company a buy rating in a report on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. CNX Coal Resources presently has an average rating of Buy and an average target price of $16.43.
Shares of CNX Coal Resources (NYSE:CNXC) opened at 16.81 on Tuesday. The firm has a 50-day moving average of $14.93 and a 200 day moving average of $10.93. The company has a market cap of $390.36 million, a price-to-earnings ratio of 700.42 and a beta of 2.05. CNX Coal Resources has a one year low of $5.98 and a one year high of $19.23.
CNX Coal Resources (NYSE:CNXC) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.11 earnings per share for the quarter, missing the 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 research analysts anticipate that CNX Coal Resources will post $0.84 EPS for the current year.
A number of large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new stake in shares of CNX Coal Resources during the first quarter valued at about $698,000. Mountain Lake Investment Management LLC increased its stake 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 valued at $3,052,000 after buying an additional 102,500 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new stake in shares of CNX Coal Resources during the second quarter valued at about $150,000. 59.04% of the stock is owned by institutional investors and hedge funds.
About CNX Coal Resources
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.