Several other equities analysts also recently weighed in on CLF. ValuEngine downgraded Cliffs Natural Resources from a strong-buy rating to a buy rating in a research report on Friday, June 2nd. FBR & Co set a $10.00 target price on Cliffs Natural Resources and gave the company a buy rating in a research report on Saturday, June 17th. BidaskClub raised Cliffs Natural Resources from a sell rating to a hold rating in a research report on Tuesday, June 27th. Zacks Investment Research downgraded Cliffs Natural Resources from a hold rating to a strong sell rating in a research report on Wednesday, June 28th. Finally, Cowen and Company reissued a market perform rating and set a $7.00 target price on shares of Cliffs Natural Resources in a research report on Wednesday, June 28th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $8.31.
Shares of Cliffs Natural Resources (NYSE:CLF) opened at 6.86 on Tuesday. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 31.47 and a beta of 1.70. Cliffs Natural Resources has a 1-year low of $4.91 and a 1-year high of $12.37. The stock’s 50 day moving average price is $7.65 and its 200-day moving average price is $7.30.
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, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The firm had revenue of $569.30 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS. On average, equities research analysts forecast that Cliffs Natural Resources will post $0.97 earnings per share for the current year.
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In other Cliffs Natural Resources news, Chairman Lourenco Goncalves acquired 100,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were bought at an average price of $7.11 per share, with a total value of $711,000.00. Following the transaction, the chairman now directly owns 3,586,970 shares of the company’s stock, valued at approximately $25,503,356.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CLF. Nuveen Asset Management LLC lifted its holdings in shares of Cliffs Natural Resources by 1.2% in the 1st 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 period. Invictus RG purchased a new stake in shares of Cliffs Natural Resources in the 1st quarter worth $121,000. Comerica Bank lifted its holdings in shares of Cliffs Natural Resources by 49.5% in the 2nd 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 period. Strs Ohio lifted its holdings in shares of Cliffs Natural Resources by 103.8% in the 1st quarter. Strs Ohio now owns 15,900 shares of the mining company’s stock worth $130,000 after buying an additional 8,100 shares during the period. Finally, Point72 Asia Hong Kong Ltd lifted its holdings in shares of Cliffs Natural Resources by 2,509.9% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 16,103 shares of the mining company’s stock worth $132,000 after buying an additional 15,486 shares during the period. 58.28% of the stock is currently owned by institutional investors.
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.
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