Zacks: Brokerages Set $14.00 Price Target for PARINGA RESOURC/S (NASDAQ:PNRL)

PARINGA RESOURC/S (NASDAQ:PNRL) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokers have set a 12-month consensus price target of $14.00 for the company, according to Zacks. Zacks has also given PARINGA RESOURC/S an industry rank of 165 out of 255 based on the ratings given to its competitors.

A number of equities analysts have recently issued reports on PNRL shares. Zacks Investment Research downgraded shares of PARINGA RESOURC/S from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Roth Capital reduced their price target on shares of PARINGA RESOURC/S to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 27th.

NASDAQ PNRL traded up $0.14 during trading hours on Friday, reaching $1.81. 903,178 shares of the company’s stock traded hands, compared to its average volume of 517,642. PARINGA RESOURC/S has a 52-week low of $1.41 and a 52-week high of $9.02. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.49 and a quick ratio of 1.41. The firm has a 50-day simple moving average of $2.00 and a 200 day simple moving average of $2.89. The firm has a market cap of $15.31 million and a PE ratio of -60.33.

About PARINGA RESOURC/S

Paringa Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral resource properties in the United States. The company holds an interest in the Buck Creek Mine Complex located in the Illinois coal basin. As of June 30, 2018, it owned 40,751 gross acres of coal leases in Kentucky, the United States.

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