Traders Purchase High Volume of Put Options on Cliffs Natural Resources (CLF)
Cliffs Natural Resources (NYSE:CLF) saw unusually large options trading activity on Wednesday. Stock investors bought 24,734 put options on the company, American Banking & Market News reports. This is an increase of approximately 104% compared to the average daily volume of 12,118 put options.
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 investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Cliffs Natural Resources currently has a consensus rating of “Hold” and an average target price of $20.24.
Cliffs Natural Resources (NYSE:CLF) traded down 2.28% during mid-day trading on Wednesday, hitting $14.60. The stock had a trading volume of 7,894,204 shares. Cliffs Natural Resources has a 52-week low of $14.89 and a 52-week high of $28.98. The stock’s 50-day moving average is $17.34 and its 200-day moving average is $20.80. The company has a market cap of $2.236 billion and a price-to-earnings ratio of 12.39.
Cliffs Natural Resources (NYSE:CLF) last released its earnings data on Thursday, April 24th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was down 17.6% on a year-over-year basis. Analysts expect that Cliffs Natural Resources will post $0.13 EPS for the current fiscal year.
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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