Cliffs Natural Resources (CLF) Posts Quarterly Results
Cliffs Natural Resources (NYSE:CLF) posted its quarterly earnings results on Thursday. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07, American Banking & Market News reports. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis.
CLF has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Cliffs Natural Resources from $23.00 to $25.00 in a research note to investors on Tuesday. They now have a “sector perform” rating on the stock. On the ratings front, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Cliffs Natural Resources in a research note to investors on Thursday, October 17th. They now have a $24.00 price target on the stock, up previously from $20.00. Finally, analysts at Cowen and Company upgraded shares of Cliffs Natural Resources from an “underperform” rating to a “market perform” rating in a research note to investors on Thursday, October 17th. They now have a $20.00 price target on the stock, up previously from $11.00. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $25.50.
Shares of Cliffs Natural Resources (NYSE:CLF) traded up 0.68% during mid-day trading on Thursday, hitting $23.58. 9,027,243 shares of the company’s stock traded hands. Cliffs Natural Resources has a one year low of $15.41 and a one year high of $46.50. The stock has a 50-day moving average of $21.86 and a 200-day moving average of $20.1. The company’s market cap is $3.611 billion. Cliffs Natural Resources also was the recipient of unusually large options trading activity on Monday. Traders purchased 24,208 call options on the stock. This is an increase of 123% compared to the typical daily volume of 10,854 call options.
Cliffs Natural Resources Inc is an international mining and natural resources company. The Company is an iron ore producer and a producer of metallurgical coal.
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