Shares of Cliffs Natural Resources Inc. (NYSE:CLF) have earned a consensus recommendation of “Hold” from the fourteen research firms that are covering the company, MarketBeat reports. Four 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. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $8.82.
Several research analysts have recently issued reports on CLF shares. Zacks Investment Research upgraded shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a report on Thursday, April 20th. FBR & Co upgraded shares of Cliffs Natural Resources from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $11.00 to $10.00 in a report on Friday, April 28th. TheStreet downgraded shares of Cliffs Natural Resources from a “c” rating to a “d+” rating in a report on Thursday, May 4th. ValuEngine upgraded shares of Cliffs Natural Resources from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 11th. Finally, BidaskClub upgraded Cliffs Natural Resources from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th.
In other news, Chairman Lourenco Goncalves acquired 100,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was purchased at an average price of $7.19 per share, for a total transaction of $719,000.00. Following the purchase, the chairman now owns 3,486,970 shares in the company, valued at approximately $25,071,314.30. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new position in Cliffs Natural Resources during the fourth quarter worth $442,000. Dimensional Fund Advisors LP raised its position in Cliffs Natural Resources by 91.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,705,786 shares of the mining company’s stock worth $22,756,000 after buying an additional 1,289,050 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in Cliffs Natural Resources by 3.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 230,451 shares of the mining company’s stock worth $1,939,000 after buying an additional 7,715 shares in the last quarter. Alpha Windward LLC acquired a new position in Cliffs Natural Resources during the first quarter worth $341,000. Finally, SFE Investment Counsel acquired a new position in Cliffs Natural Resources during the first quarter worth $112,000. Institutional investors and hedge funds own 66.58% of the company’s stock.
Cliffs Natural Resources (NYSE CLF) opened at 7.19 on Friday. Cliffs Natural Resources has a 52-week low of $4.91 and a 52-week high of $12.37. The company’s 50-day moving average price is $7.26 and its 200 day moving average price is $7.81. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 32.98 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 the consensus estimate of $0.18 by $0.08. The firm had revenue of $569.30 million during the quarter, compared to analysts’ expectations of $485.93 million. Cliffs Natural Resources had a negative return on equity of 13.83% and a net margin of 2.44%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 earnings per share. Equities research analysts predict that Cliffs Natural Resources will post $0.91 earnings per share for the current year.
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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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