Shares of Cliffs Natural Resources Inc. (NYSE:CLF) have earned a consensus rating of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $8.82.
A number of equities analysts recently weighed in on the stock. Axiom Securities reaffirmed a “sell” rating on shares of Cliffs Natural Resources in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. ValuEngine raised shares of Cliffs Natural Resources from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. BidaskClub lowered shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Clarkson Capital reaffirmed a “neutral” rating on shares of Cliffs Natural Resources in a research note on Thursday, July 27th.
In other news, Chairman Lourenco Goncalves bought 100,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were bought at an average cost of $7.19 per share, with a total value of $719,000.00. Following the acquisition, the chairman now owns 3,486,970 shares in the company, valued at $25,071,314.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Quantum Capital Management purchased a new stake in shares of Cliffs Natural Resources during the first quarter worth about $113,000. Nuveen Asset Management LLC boosted its stake 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. Comerica Bank boosted its stake in shares of Cliffs Natural Resources by 49.5% in the second quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock worth $116,000 after buying an additional 5,129 shares during the last quarter. Invictus RG purchased a new stake in shares of Cliffs Natural Resources during the first quarter worth about $121,000. Finally, ARP Americas LLC boosted its stake in shares of Cliffs Natural Resources by 72.5% in the second quarter. ARP Americas LLC now owns 17,600 shares of the mining company’s stock worth $122,000 after buying an additional 7,400 shares during the last quarter. 58.30% of the stock is currently owned by institutional investors.
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Cliffs Natural Resources (NYSE CLF) traded up 0.64% during trading on Wednesday, reaching $7.87. The company had a trading volume of 5,715,518 shares. The stock has a market cap of $2.33 billion, a PE ratio of 36.10 and a beta of 1.69. The company has a 50-day moving average price of $7.42 and a 200 day moving average price of $7.70. Cliffs Natural Resources has a 52-week low of $4.91 and a 52-week high of $12.37.
Cliffs Natural Resources (NYSE:CLF) last announced its earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.08. The firm had revenue of $569.30 million during the quarter, compared to analyst estimates of $485.93 million. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 EPS. On average, analysts anticipate that Cliffs Natural Resources will post $0.94 earnings per share for the current year.
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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