Cliffs Natural Resources (CLF) Bond Prices Fall 1%

An issue of Cliffs Natural Resources Inc. (NYSE:CLF) debt fell 1% against its face value during trading on Tuesday. The high-yield issue of debt has a 5.75% coupon and will mature on March 1, 2025. The bonds in the issue are now trading at $96.50 and were trading at $97.50 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its share price.

Several equities research analysts recently weighed in on the company. KeyCorp restated a “hold” rating on shares of Cliffs Natural Resources in a report on Friday, November 24th. B. Riley set a $10.00 target price on Cliffs Natural Resources and gave the stock a “buy” rating in a report on Friday, November 17th. Zacks Investment Research lowered Cliffs Natural Resources from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. J P Morgan Chase & Co lowered Cliffs Natural Resources from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $6.90 to $10.00 in a report on Monday, October 23rd. Finally, FBR & Co restated a “buy” rating and issued a $10.00 target price on shares of Cliffs Natural Resources in a report on Friday, October 20th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $8.97.

Cliffs Natural Resources Inc. (CLF) opened at $6.05 on Wednesday. Cliffs Natural Resources Inc. has a 1-year low of $5.56 and a 1-year high of $12.37. The company has a market capitalization of $2,001.44, a P/E ratio of 7.34 and a beta of 1.59. The company has a current ratio of 1.89, a quick ratio of 1.18 and a debt-to-equity ratio of -2.03.

Cliffs Natural Resources (NYSE:CLF) last issued its quarterly earnings results on Friday, October 20th. The mining company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. Cliffs Natural Resources had a negative return on equity of 29.06% and a net margin of 5.48%. The company had revenue of $698.00 million during the quarter, compared to analyst estimates of $669.25 million. During the same period in the previous year, the company earned ($0.11) earnings per share. The company’s quarterly revenue was up 26.2% compared to the same quarter last year. equities research analysts anticipate that Cliffs Natural Resources Inc. will post 0.49 EPS for the current year.

In other Cliffs Natural Resources news, Chairman Lourenco Goncalves purchased 100,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was bought at an average cost of $7.11 per share, for a total transaction of $711,000.00. Following the completion of the acquisition, the chairman now directly owns 3,586,970 shares in the company, valued at $25,503,356.70. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Comerica Bank lifted its holdings in shares of Cliffs Natural Resources by 49.5% during 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. ARP Americas LLC lifted its holdings in shares of Cliffs Natural Resources by 72.5% during 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. D.A. Davidson & CO. lifted its holdings in shares of Cliffs Natural Resources by 486.8% during the second quarter. D.A. Davidson & CO. now owns 18,597 shares of the mining company’s stock worth $128,000 after buying an additional 15,428 shares during the last quarter. Moors & Cabot Inc. acquired a new position in shares of Cliffs Natural Resources during the second quarter worth approximately $128,000. Finally, HighTower Advisors LLC lifted its holdings in shares of Cliffs Natural Resources by 19.0% during the second quarter. HighTower Advisors LLC now owns 19,092 shares of the mining company’s stock worth $133,000 after buying an additional 3,046 shares during the last quarter. Institutional investors own 56.76% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Cliffs Natural Resources (CLF) Bond Prices Fall 1%” was originally posted by Community Financial News and is owned by of Community Financial News. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright & trademark law. The original version of this piece of content can be accessed at https://www.com-unik.info/2017/12/06/cliffs-natural-resources-clf-bond-prices-fall-1.html.

Cliffs Natural Resources Company Profile

Cleveland-Cliffs Inc, formerly 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.

What are top analysts saying about Cliffs Natural Resources Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Cliffs Natural Resources Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit