Cliffs Natural Resources Inc. (NYSE:CLF) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
A number of other analysts have also recently commented on the company. Cowen and Company reaffirmed a “hold” rating on shares of Cliffs Natural Resources in a research report on Thursday, August 3rd. TheStreet raised Cliffs Natural Resources from a “d+” rating to a “c” rating in a research report on Monday, July 31st. Clarkson Capital reaffirmed a “neutral” rating on shares of Cliffs Natural Resources in a research report on Thursday, July 27th. ValuEngine raised Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Axiom Securities reaffirmed a “sell” rating on shares of Cliffs Natural Resources in a research report on Monday, July 31st. Five investment 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. The stock currently has a consensus rating of “Hold” and an average target price of $8.50.
Cliffs Natural Resources (NYSE:CLF) opened at 7.16 on Wednesday. The company has a market cap of $2.12 billion, a P/E ratio of 32.84 and a beta of 1.69. The firm has a 50-day moving average price of $7.32 and a 200-day moving average price of $7.76. Cliffs Natural Resources has a 12-month low of $4.91 and a 12-month high of $12.37.
Cliffs Natural Resources (NYSE:CLF) last announced its earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 the consensus estimate of $485.93 million. During the same period in the previous year, the business earned $0.07 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts forecast that Cliffs Natural Resources will post $0.91 earnings per share for the current fiscal year.
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In related news, Chairman Lourenco Goncalves acquired 100,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $7.19 per share, with a total value of $719,000.00. Following the acquisition, the chairman now directly owns 3,486,970 shares in the company, valued at approximately $25,071,314.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.
Several institutional investors have recently modified their holdings of CLF. SFE Investment Counsel bought a new position in shares of Cliffs Natural Resources during the first quarter valued at about $112,000. 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. Invictus RG acquired a new position in Cliffs Natural Resources during the first quarter worth $121,000. 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, 361 Capital LLC acquired a new position in Cliffs Natural Resources during the first quarter worth $129,000. 65.23% of the stock is owned by institutional investors and hedge funds.
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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