PARINGA RESOURC/S ADR (Nasdaq:PNRL)
June 13th, 2019
Amidst rising markets PARINGA RESOURC/S ADR fell ($0.56) Thursday, down 14.51%, closing at $3.30. Sadly, in addition to dropping PNRL ended up closing the day at a new 52 week low.As well as the drop in value, PARINGA RESOURC/S ADR hit a new 52 week low of $3.30, breaking the previous low of $3.86 from earlier this month. Two technical ‘scores’ for stocks to be aware of are the Altman Z1 and the Piotroski2 scores. PNRL scored rather low for both, which could be indicators of trouble down the road (the Altman Z-Score is 0.10, and the Piotroski Score is 2). Despite the drop in value, trading volumes were solid at 255.00% of normal which can indicate investor opportunities.
PNRL was outperformed by the rest of the Energy sector which went up 1.25%.
The market sectors were mixed Thursday with a majority of the sectors trending up. Energy saw the biggest increase of the day (1.25%), while the Healthcare sector saw the biggest drop (-0.11%). Information Technology has seen the biggest year-to-date gain of 23.06%.
Utilities saw the biggest turn-around compared to its 5-day performance (-0.31%), as it went up by 0.15%. Healthcare saw a turn-around from its 5-day performance of 2.18% trading down -0.11%.
- Energy, up 1.25%.
- Communication Services, up 1.14%.
- Consumer Discretionary, up 0.90%.
- Materials, up 0.58%.
- Industrials, up 0.54%.
- Financials, up 0.23%.
- Information Technology, up 0.22%.
- Utilities, up 0.15%.
- Consumer Staples, up 0.11%.
- Real Estate, up 0.09%.
- Healthcare, down -0.11%.
PARINGA RESOURC/S ADR Info
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. Paringa Resources Limited was incorporated in 2012 and is headquartered in Rumsey, Kentucky.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that PARINGA RESOURC/S ADR’s score is 0.10) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
(2) The Piotrosky score is used to determine the best value stocks with nine being the best and zero being the worst. It is based on specific aspects of the company’s financial statements, such as positive net income, operating cash flow and asset turnover ratio. A score 0 0 is the worst (PARINGA RESOURC/S ADR’s score is 2), and 9 is the best.
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