The stock of CNX Coal Resources LP (NYSE:CNXC) reached all time high today, Oct, 5 and still has $31.81 target or 82.00% above today’s $17.48 share price. This indicates more upside for the $418.41M company. This technical setup was reported by Barchart.com. If the $31.81 PT is reached, the company will be worth $343.10 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 143,825 shares traded hands or 146.53% up from the average. CNX Coal Resources LP (NYSE:CNXC) has risen 139.29% since March 2, 2016 and is uptrending. It has outperformed by 131.03% the S&P500.
Analysts await CNX Coal Resources LP (NYSE:CNXC) to report earnings on October, 24. They expect $0.30 EPS, down 51.61% or $0.32 from last year’s $0.62 per share. CNXC’s profit will be $7.18 million for 14.57 P/E if the $0.30 EPS becomes a reality. After $0.11 actual EPS reported by CNX Coal Resources LP for the previous quarter, Wall Street now forecasts 172.73% EPS growth.
CNX Coal Resources LP (NYSE:CNXC) Ratings Coverage
Out of 10 analysts covering CNX Coal Resources LP (NYSE:CNXC), 7 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 70% are positive. CNX Coal Resources LP has been the topic of 20 analyst reports since July 27, 2015 according to StockzIntelligence Inc. As per Monday, July 27, the company rating was initiated by Jefferies. The rating was maintained by Cowen & Co on Tuesday, October 27 with “Outperform”. The firm earned “Neutral” rating on Tuesday, November 24 by Bank of America. FBR Capital initiated the shares of CNXC in a report on Friday, September 18 with “Outperform” rating. Stifel Nicolaus maintained the stock with “Buy” rating in Tuesday, October 27 report. The firm earned “Outperform” rating on Monday, July 27 by Credit Suisse. As per Monday, July 27, the company rating was initiated by Goldman Sachs. The stock of CNX Coal Resources LP (NYSE:CNXC) has “Outperform” rating given on Monday, July 27 by Cowen & Co. As per Tuesday, September 20, the company rating was maintained by Jefferies. On Monday, July 27 the stock rating was initiated by Citigroup with “Buy”.
According to Zacks Investment Research, “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.”
More notable recent CNX Coal Resources LP (NYSE:CNXC) news were published by: Streetinsider.com which released: “Jefferies Raises Price Target on CNX Coal Resources LP (CNXC) to $18 …” on October 05, 2016, also Prnewswire.com with their article: “CNX Coal Resources LP Announces Results for the First Quarter 2016” published on April 25, 2016, Prnewswire.com published: “CNX Coal Resources LP Announces Results for the Second Quarter 2016” on July 25, 2016. More interesting news about CNX Coal Resources LP (NYSE:CNXC) were released by: Prnewswire.com and their article: “CNX Coal Resources LP Announces Results for the Third Quarter 2015” published on October 26, 2015 as well as Prnewswire.com‘s news article titled: “CNX Coal Resources LP Prices Initial Public Offering” with publication date: June 30, 2015.
CNXC Company Profile
CNX Coal Resources LP, incorporated on March 16, 2015, is a producer of thermal coal in the Northern Appalachian Basin and the eastern United States. The Firm is engaged in the management and development of the thermal coal activities 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. The Pennsylvania mining complex includes the Bailey Mine, the Enlow Fork Mine and the Harvey Mine.
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