Citigroup Initiates Coverage on CNX Coal Resources LP to Neutral

Citigroup Initiates Coverage on CNX Coal Resources LP(NYSE:CNXC). The shares have been rated Neutral. The rating by Citigroup was issued on Jul 28, 2016.

CNX Coal Resources LP (CNXC) shares turned negative on Thursdays trading session with the shares closing down -0.4675 points or -3.44% at a volume of 87,848. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $13.7712. The peak price level was also seen at $13.7712 while the days lowest was $13. Finally the shares closed at $13.11. The 52-week high of the shares is $17.3399 while the 52-week low is $5.98. According to the latest information available, the market cap of the company is $304 M.

CNX Coal Resources LP(CNXC) last announced its earnings results on Jul 25, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $53.77M. Analysts had an estimated revenue of $51.87M. Earnings per share were $0.11. Analysts had estimated an EPS of $0.13.

Several Insider Transactions has been reported to the SEC. On Jul 8, 2015, James A Brock (director officer ) purchased 6,660 shares at $15.00 per share price.Also, On Jul 8, 2015, Lorraine L. Ritter (officer ) purchased 650 shares at $15.00 per share price.On Jul 8, 2015, Martha A Wiegand (officer ) purchased 500 shares at $15.00 per share price, according to the Form-4 filing with the securities and exchange commission.

CNX Coal Resources LP is a producer of thermal coal. The Company is formed by CONSOL Energy Inc. (CONSOL Energy) to manage and develop all of its thermal coal operations in Pennsylvania. Its initial assets include around 20% undivided interest in and operational control over CONSOL Energy’s Pennsylvania mining complex which consists of around three underground mines and related infrastructure that produce bituminous thermal coal that is sold primarily to electric utilities in the eastern United States. Its Pennsylvania mining complex which includes the Bailey mine the Enlow Fork mine and the Harvey mine has coal reserves. The Company mines its reserves from the Pittsburgh No. 8 Coal Seam which is a contiguous formation of uniform thermal coal. The Pennsylvania mining complex includes around 785.6 million tons of coal reserves with an average gross heat content of approximately 13000 British thermal units per pound and an average sulfur content of around 2.38%.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

CNX Coal Resources LP - Is it time to Sell?

Top Brokerage Firms are advising their investors on CNX Coal Resources LP. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.