Cliffs Natural Resources Sets New 52-Week Low at $15.25 (CLF)
Cliffs Natural Resources (NYSE:CLF) hit a new 52-week low during trading on Monday , American Banking News.com reports. The company traded as low as $15.25 and last traded at $15.70, with a volume of 3,419,759 shares traded. The stock had previously closed at $15.68.
A number of research firms have recently commented on CLF. Analysts at Macquarie downgraded shares of Cliffs Natural Resources from a “neutral” rating to an “underperform” rating in a research note on Friday, May 16th. They now have a $10.00 price target on the stock, down previously from $18.00. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Cliffs Natural Resources in a research note on Monday, April 28th. They now have a $19.00 price target on the stock. Finally, analysts at Nomura reiterated a “buy” rating on shares of Cliffs Natural Resources in a research note on Monday, April 28th. They now have a $23.00 price target on the stock, down previously from $26.00. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Cliffs Natural Resources presently has a consensus rating of “Hold” and a consensus target price of $20.24.
The stock’s 50-day moving average is $17.59 and its 200-day moving average is $21.0. The company has a market cap of $2.391 billion and a P/E ratio of 13.00.
Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings results on Thursday, April 24th. The company reported ($0.54) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.11) by $0.43. The company had revenue of $940.00 million for the quarter, compared to the consensus estimate of $982.96 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The company’s quarterly revenue was down 17.6% on a year-over-year basis. On average, analysts predict that Cliffs Natural Resources will post $0.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 3rd. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Wednesday, May 21st.
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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