BidaskClub upgraded shares of Cliffs Natural Resources Inc. (NYSE:CLF) from a sell rating to a hold rating in a research note issued to investors on Tuesday, June 27th.
Several other equities research analysts also recently commented on CLF. Axiom Securities reissued a sell rating on shares of Cliffs Natural Resources in a research report on Thursday, March 16th. Zacks Investment Research downgraded shares of Cliffs Natural Resources from a buy rating to a hold rating in a research report on Tuesday, March 21st. J P Morgan Chase & Co boosted their price target on shares of Cliffs Natural Resources from $12.00 to $13.00 and gave the stock an overweight rating in a report on Monday, March 27th. FBR & Co upgraded shares of Cliffs Natural Resources from a market perform rating to an outperform rating and cut their price target for the stock from $11.00 to $10.00 in a report on Friday, April 28th. Finally, TheStreet cut shares of Cliffs Natural Resources from a c rating to a d+ rating in a report on Thursday, May 4th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $8.50.
Shares of Cliffs Natural Resources (NYSE:CLF) traded down 3.27% during mid-day trading on Tuesday, hitting $7.10. The stock had a trading volume of 14,335,719 shares. The stock’s 50-day moving average price is $6.86 and its 200-day moving average price is $7.93. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 41.52 and a beta of 1.66. Cliffs Natural Resources has a 12-month low of $4.91 and a 12-month high of $12.37. Cliffs Natural Resources also saw unusually large options trading activity on Wednesday. Traders bought 25,460 call options on the stock. This is an increase of 109% compared to the average daily volume of 12,169 call options.
Cliffs Natural Resources (NYSE:CLF) last posted its earnings results on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.18 by $0.08. The company had revenue of $569.30 million during the quarter, compared to the consensus estimate of $485.93 million. Cliffs Natural Resources had a net margin of 1.68% and a negative return on equity of 5.79%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. On average, equities analysts anticipate that Cliffs Natural Resources will post $0.94 EPS for the current fiscal year.
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In other news, Director John T. Baldwin bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were acquired at an average price of $6.32 per share, with a total value of $37,920.00. Following the acquisition, the director now owns 87,991 shares of the company’s stock, valued at approximately $556,103.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Lourenco Goncalves bought 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average cost of $6.31 per share, for a total transaction of $1,262,000.00. Following the acquisition, the chairman now directly owns 2,855,296 shares in the company, valued at approximately $18,016,917.76. The disclosure for this purchase can be found here. Insiders have purchased a total of 212,750 shares of company stock worth $1,344,358 over the last 90 days. 0.46% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. SFE Investment Counsel bought a new position in shares of Cliffs Natural Resources during the first quarter worth approximately $112,000. Nuveen Asset Management LLC raised its position in shares of Cliffs Natural Resources by 1.2% in the first quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock worth $115,000 after buying an additional 164 shares during the last quarter. Invictus RG bought a new position in shares of Cliffs Natural Resources during the first quarter worth approximately $121,000. First Allied Advisory Services Inc. bought a new position in shares of Cliffs Natural Resources during the fourth quarter worth approximately $129,000. Finally, 361 Capital LLC bought a new position in shares of Cliffs Natural Resources during the first quarter worth approximately $129,000. 66.64% of the stock is currently owned by hedge funds and other institutional investors.
Cliffs Natural Resources Company Profile
Cliffs Natural Resources Inc is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore. The Company is a producer of iron ore pellets, primarily selling production from U.S.
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