Cliffs Natural Resources Inc. (NYSE:CLF) Rating Reiterated by Axiom Securities

Cliffs Natural Resources Inc. (NYSE:CLF)‘s stock had its “sell” rating reiterated by research analysts at Axiom Securities in a report released on Tuesday, July 25th.

A number of other brokerages have also issued reports on CLF. BidaskClub upgraded shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC assumed coverage on shares of Cliffs Natural Resources in a research note on Friday, July 7th. They issued a “buy” rating and a $9.00 target price for the company. J P Morgan Chase & Co upped their target price on shares of Cliffs Natural Resources from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Monday, March 27th. ValuEngine downgraded shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, FBR & Co set a $10.00 target price on shares of Cliffs Natural Resources and gave the company a “buy” rating in a research note on Saturday, June 17th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Cliffs Natural Resources presently has an average rating of “Hold” and an average price target of $8.50.

Shares of Cliffs Natural Resources (NYSE:CLF) remained flat at $7.19 during trading on Tuesday. The stock had a trading volume of 7,532,177 shares. Cliffs Natural Resources has a one year low of $4.91 and a one year high of $12.37. The stock has a 50-day moving average of $7.26 and a 200 day moving average of $7.81. The firm has a market cap of $2.13 billion, a P/E ratio of 32.98 and a beta of 1.69.

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 the Zacks’ consensus estimate of $0.18 by $0.08. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. The firm had revenue of $569.30 million for the quarter, compared to analyst estimates of $485.93 million. During the same period in the previous year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities analysts expect 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 Cliffs Natural Resources stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average price of $7.19 per share, for a total transaction of $719,000.00. Following the completion of the acquisition, the chairman now owns 3,486,970 shares of the company’s stock, valued at approximately $25,071,314.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. SFE Investment Counsel acquired a new position in shares of Cliffs Natural Resources during the first quarter valued at approximately $112,000. 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 in the last quarter. Invictus RG purchased a new stake in shares of Cliffs Natural Resources during the first quarter worth approximately $121,000. 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 in the last quarter. Finally, 361 Capital LLC purchased a new stake in shares of Cliffs Natural Resources during the first quarter worth approximately $129,000. Institutional investors and hedge funds own 66.58% of the company’s stock.

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.

Analyst Recommendations for Cliffs Natural Resources (NYSE:CLF)

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