Traders Buy High Volume of Call Options on Cliffs Natural Resources (CLF)
Cliffs Natural Resources (NYSE:CLF) saw some unusual options trading activity on Friday. Stock traders acquired 54,925 call options on the company, AnalystRatingsNetwork.com reports. This represents an increase of approximately 185% compared to the typical daily volume of 19,258 call options.
A number of research firms have recently commented on CLF. Analysts at Brean Capital raised their price target on shares of Cliffs Natural Resources to $20.00 in a research note on Thursday. Separately, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Cliffs Natural Resources in a research note on Thursday, January 23rd. They now have a $14.00 price target on the stock, up previously from $12.00. Finally, analysts at Deutsche Bank upgraded shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. They now have a $27.00 price target on the stock, up previously from $22.00. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $23.71.
Cliffs Natural Resources (NYSE:CLF) traded up 1.65% during mid-day trading on Friday, hitting $21.855. 5,682,360 shares of the company’s stock traded hands. Cliffs Natural Resources has a 52-week low of $15.41 and a 52-week high of $31.20. The stock has a 50-day moving average of $22.23 and a 200-day moving average of $23.14. The company’s market cap is $3.347 billion.
Cliffs Natural Resources (NYSE:CLF) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $1.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.82 by $0.40. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company posted $0.62 earnings per share. Cliffs Natural Resources’s revenue was down 1.3% compared to the same quarter last year. On average, analysts predict that Cliffs Natural Resources will post $3.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 3rd. Shareholders of record on Friday, February 21st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, February 19th.
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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