BidaskClub lowered shares of Cliffs Natural Resources Inc. (NYSE:CLF) from a hold rating to a sell rating in a research note released on Wednesday.
A number of other equities research analysts have also recently commented on the company. Cowen and Company reaffirmed a hold rating on shares of Cliffs Natural Resources in a research note on Thursday, August 3rd. TheStreet raised Cliffs Natural Resources from a d+ rating to a c rating in a research note on Monday, July 31st. Clarkson Capital reaffirmed a neutral rating on shares of Cliffs Natural Resources in a research note on Thursday, July 27th. ValuEngine raised Cliffs Natural Resources from a hold rating to a buy rating in a research note on Wednesday, August 2nd. Finally, Axiom Securities reaffirmed a sell rating on shares of Cliffs Natural Resources in a research note on Monday, July 31st. Five analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Cliffs Natural Resources currently has an average rating of Hold and a consensus target price of $8.50.
Cliffs Natural Resources (NYSE CLF) traded down 0.53% during trading on Wednesday, hitting $7.45. The company had a trading volume of 2,615,701 shares. Cliffs Natural Resources has a 12-month low of $4.91 and a 12-month high of $12.37. The firm has a 50-day moving average of $7.32 and a 200 day moving average of $7.76. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 34.17 and a beta of 1.69.
Cliffs Natural Resources (NYSE:CLF) last released its earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, topping 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 company had revenue of $569.30 million during the quarter, compared to the consensus estimate of $485.93 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities research analysts forecast that Cliffs Natural Resources will post $0.91 earnings per share for the current year.
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In other Cliffs Natural Resources news, Chairman Lourenco Goncalves bought 100,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was purchased at an average cost of $7.19 per share, with a total value of $719,000.00. Following the completion of the purchase, the chairman now owns 3,486,970 shares in the company, valued at $25,071,314.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SFE Investment Counsel acquired a new position in Cliffs Natural Resources during the first quarter worth about $112,000. Quantum Capital Management acquired a new position in Cliffs Natural Resources during the first quarter worth about $113,000. Nuveen Asset Management LLC boosted its position in 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 position in 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. Finally, Invictus RG acquired a new position in Cliffs Natural Resources during the first quarter worth about $121,000. 65.23% of the stock is 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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