Zacks: Brokerages Set $23.00 Price Target for PARINGA RESOURC/S (NASDAQ:PNRL)

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

Brokerages have set a 12-month consensus target price of $23.00 for the company, according to Zacks. Zacks has also given PARINGA RESOURC/S an industry rank of 154 out of 256 based on the ratings given to its competitors.

A number of research firms have recently weighed in on PNRL. HC Wainwright reissued a “buy” rating and set a $13.00 price target on shares of PARINGA RESOURC/S in a research report on Tuesday, July 23rd. Zacks Investment Research raised shares of PARINGA RESOURC/S from a “sell” rating to a “hold” rating in a research report on Saturday.

Shares of PNRL stock traded up $0.15 during mid-day trading on Monday, reaching $2.31. 1,907 shares of the company were exchanged, compared to its average volume of 2,535. PARINGA RESOURC/S has a fifty-two week low of $2.08 and a fifty-two week high of $10.38. The company has a 50 day moving average price of $3.33.

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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