NYSE:CINR

Stock Analysis Report

Executive Summary

Ciner Resources LP engages in the trona ore mining and soda ash production businesses in the United States and internationally.

Rewards


Snowflake Analysis


Similar Companies

Share Price & News

How has Ciner Resources's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CINR has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-9.3%

CINR

-12.4%

US Chemicals

-10.6%

US Market


1 Year Return

-38.8%

CINR

-16.4%

US Chemicals

5.2%

US Market

Return vs Industry: CINR underperformed the US Chemicals industry which returned -13% over the past year.

Return vs Market: CINR underperformed the US Market which returned 10.2% over the past year.


Shareholder returns

CINRIndustryMarket
7 Day-9.3%-12.4%-10.6%
30 Day-15.6%-10.9%-8.5%
90 Day-13.9%-12.2%-4.6%
1 Year-34.1%-38.8%-4.7%-16.4%7.4%5.2%
3 Year-29.8%-45.1%12.3%-9.1%31.7%23.2%
5 Year-4.6%-36.9%23.7%-2.8%56.4%39.3%

Price Volatility Vs. Market

How volatile is Ciner Resources's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Ciner Resources undervalued compared to its fair value and its price relative to the market?

32.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CINR ($15.2) is trading below our estimate of fair value ($22.44)

Significantly Below Fair Value: CINR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CINR is good value based on its PE Ratio (6.2x) compared to the Chemicals industry average (20.7x).

PE vs Market: CINR is good value based on its PE Ratio (6.2x) compared to the US market (17.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CINR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CINR is good value based on its PB Ratio (1.8x) compared to the US Chemicals industry average (1.9x).

Future Growth

How is Ciner Resources forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

23.4%

Forecasted Materials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ciner Resources has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Ciner Resources performed over the past 5 years?

0.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CINR has high quality earnings.

Growing Profit Margin: CINR's current net profit margins (9.5%) are lower than last year (10.3%).


Past Earnings Growth Analysis

Earnings Trend: CINR's earnings have grown by 0.8% per year over the past 5 years.

Accelerating Growth: CINR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CINR had negative earnings growth (-0.6%) over the past year, making it difficult to compare to the Chemicals industry average (-15.9%).


Return on Equity

High ROE: CINR's Return on Equity (33.9%) is considered high.


Return on Assets


Return on Capital Employed

Financial Health

How is Ciner Resources's financial position?


Financial Position Analysis

Short Term Liabilities: CINR's short term assets ($172.3M) exceed its short term liabilities ($56.3M).

Long Term Liabilities: CINR's short term assets ($172.3M) exceed its long term liabilities ($138.1M).


Debt to Equity History and Analysis

Debt Level: CINR's debt to equity ratio (43.2%) is considered high.

Reducing Debt: CINR's debt to equity ratio has reduced from 58.6% to 43.2% over the past 5 years.

Debt Coverage: CINR's debt is well covered by operating cash flow (80.2%).

Interest Coverage: CINR's interest payments on its debt are well covered by EBIT (19.5x coverage).


Balance Sheet

Inventory Level: CINR has a high level of physical assets or inventory.

Debt Coverage by Assets: CINR's debt is covered by short term assets (assets are 1.3x debt).

Dividend

What is Ciner Resources's current dividend yield, its reliability and sustainability?

8.98%

Current Dividend Yield


Dividend Yield vs Market

company9.0%marketbottom25%1.6%markettop25%4.1%industryaverage2.5%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: CINR's dividend (8.95%) is higher than the bottom 25% of dividend payers in the US market (1.53%).

High Dividend: CINR's dividend (8.95%) is in the top 25% of dividend payers in the US market (3.96%)


Stability and Growth of Payments

Stable Dividend: CINR has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: CINR has only been paying a dividend for 6 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (55.4%), CINR's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

How experienced are the management team and are they aligned to shareholders interests?

1.1yrs

Average management tenure


CEO

Tarlan Erkan (41yo)

0.7yrs

Tenure

0

Mr. Tarlan Ogüz Erkan has been the Chairman, President & CEO of of Ciner Resource Partners LLC, General Partner of Ciner Resources LP since June 17, 2019. Mr. Erkan served as Director of International Oper ...


Leadership Team

NamePositionTenureCompensationOwnership
Christopher DeBerry
Chief Accounting Officer & Principal Financial Officer of Ciner Resource Partners LLC1.1yrsUS$331.61k0.054% $165.1k
Tarlan Erkan
Chairman0.7yrsno data0.049% $149.2k
Marla Nicholson
VP & General Counsel of Ciner Resource Partners LLC0.3yrsno data0.0069% $21.0k
Jim Dass
Vice President of Human Resources - Ciner Resource Partners LLC6yrsno datano data
Ahmet Tohma
Finance Director & Director of Ciner Resource Partners LLC0.5yrsno datano data
Ray Katekovich
Commercial Director of Ciner Resource Partners LLC2.7yrsno datano data
Eduard Freydel
Vice President of Finance of Ciner Resource Partners LLC1.1yrsno data0.057% $173.7k
Vivek Bhakuni
Senior Financial Planning Analyst0yrsno datano data

1.1yrs

Average Tenure

39.5yo

Average Age

Experienced Management: CINR's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Tarlan Erkan
Chairman0.7yrsno data0.049% $149.2k
Ahmet Tohma
Finance Director & Director of Ciner Resource Partners LLC0.5yrsno datano data
Michael Ducey
Lead Independent Director of Ciner Resource Partners LLC3yrsUS$158.36k0.096% $294.4k
Alec Dreyer
Independent Director of Ciner Resource Partners LLC1.6yrsUS$74.89k0.022% $66.2k
Thomas Jasper
Independent Director of Ciner Resource Partners LLC4.1yrsUS$170.44k0.060% $184.5k
Matthew Mead
Director of Ciner Resource Partners LLC0.08yrsno datano data
Atilla Ciner
Director of Ciner Resource Partners LLC2.4yrsno datano data
Gürsel Usta
Director0.7yrsno datano data

1.1yrs

Average Tenure

58yo

Average Age

Experienced Board: CINR's board of directors are not considered experienced ( 1.1 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ciner Resources LP's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ciner Resources LP
  • Ticker: CINR
  • Exchange: NYSE
  • Founded:
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Market Cap: US$305.378m
  • Shares outstanding: 20.16m
  • Website: https://www.ciner.us.com

Number of Employees


Location

  • Ciner Resources LP
  • Five Concourse Parkway
  • Suite 2500
  • Atlanta
  • Georgia
  • 30328
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CINRNYSE (New York Stock Exchange)YesCommon UnitsUSUSDSep 2013
2OCDB (Deutsche Boerse AG)YesCommon UnitsDEEURSep 2013

Biography

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. As of December 31, 2018, it had proven and probable reserves of approximately 236.1 million short tons of trona. Ciner Resource Partners LLC serves as the general partner of the company. The company was formerly known as OCI Resources LP and changed its name to Ciner Resources LP in November 2015. Ciner Resources LP is based in Atlanta, Georgia. Ciner Resources LP is a subsidiary of Ciner Wyoming Holding Co. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/28 01:49
End of Day Share Price2020/02/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.