Paringa Resources (OTCMKTS:PNGZF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.
According to Zacks, “Paringa Resources Ltd. is involved in the exploration and development of resource projects. It primarily explores for coal. The company’s principal project consists of Poplar Grove Mine, the Cypress Mine and the Buck Creek coal mining complex primarily in the Illinois coal basin in western Kentucky. Paringa Resources Ltd. is headquartered in Evansville, Indiana. “
Shares of Paringa Resources stock opened at $0.13 on Friday. Paringa Resources has a twelve month low of $0.12 and a twelve month high of $0.45.
Paringa Resources Limited, together with its subsidiaries, engages in the exploration and development of resource projects. The company holds interests in the Buck Creek coal mines complex, which include the Poplar Grove Mine and the Cypress Mine located in the Illinois coal basin in western Kentucky.
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