Cliffs Natural Resources Inc. (NYSE:CLF) has earned an average rating of “Hold” from the fourteen research firms that are covering the firm, Marketbeat.com reports. Five equities 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 given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $8.82.
A number of equities research analysts have commented on the company. BidaskClub upgraded Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. FBR & Co set a $10.00 price target on Cliffs Natural Resources and gave the company a “buy” rating in a research report on Saturday, June 17th. Clarkson Capital reiterated a “neutral” rating on shares of Cliffs Natural Resources in a research report on Thursday, July 27th. ValuEngine lowered Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research upgraded Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th.
Shares of Cliffs Natural Resources (NYSE CLF) traded up 0.64% during midday trading on Wednesday, hitting $7.87. 5,715,518 shares of the company were exchanged. The company’s 50 day moving average price is $7.42 and its 200 day moving average price is $7.70. The firm has a market cap of $2.33 billion, a P/E ratio of 36.10 and a beta of 1.69. Cliffs Natural Resources has a one year low of $4.91 and a one year high of $12.37.
Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings results on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. Cliffs Natural Resources had a negative return on equity of 13.83% and a net margin of 2.44%. The firm had revenue of $569.30 million for the quarter, compared to analyst estimates of $485.93 million. During the same quarter in the previous year, the company posted $0.07 EPS. The business’s revenue was up 14.7% on a year-over-year basis. Equities analysts expect that Cliffs Natural Resources will post $0.94 EPS for the current year.
In other Cliffs Natural Resources news, Chairman Lourenco Goncalves acquired 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 purchase, the chairman now directly owns 3,486,970 shares of the company’s stock, valued at $25,071,314.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CLF. BlackRock Inc. increased its position in shares of Cliffs Natural Resources by 23,956.0% in the first quarter. BlackRock Inc. now owns 18,554,188 shares of the mining company’s stock worth $152,330,000 after buying an additional 18,477,059 shares in the last quarter. Vanguard Group Inc. increased its position in Cliffs Natural Resources by 53.3% in the first quarter. Vanguard Group Inc. now owns 25,642,631 shares of the mining company’s stock worth $210,526,000 after buying an additional 8,918,169 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new position in Cliffs Natural Resources during the first quarter worth $45,125,000. Bridgewater Associates LP purchased a new position in Cliffs Natural Resources during the first quarter worth $31,595,000. Finally, Wellington Management Group LLP increased its position in Cliffs Natural Resources by 574.0% in the first quarter. Wellington Management Group LLP now owns 4,366,103 shares of the mining company’s stock worth $35,846,000 after buying an additional 3,718,310 shares during the period. 58.30% of the stock is currently owned by institutional investors.
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About Cliffs Natural Resources
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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