Cliffs Natural Resources Short Interest Up 4.6% in May (CLF)
Cliffs Natural Resources (NYSE:CLF) saw a significant growth in short interest in the month of May. As of May 30th, there was short interest totalling 53,126,123 shares, a growth of 4.6% from the May 15th total of 50,781,547 shares, American Banking News reports. Currently, 34.9% of the company’s stock are sold short. Based on an average daily volume of 4,540,636 shares, the days-to-cover ratio is presently 11.7 days.
CLF has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Cliffs Natural Resources in a research note on Thursday. They now have a $16.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Cliffs Natural Resources in a research note on Friday, June 13th. They now have a $19.00 price target on the stock, down previously from $26.00. Finally, 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. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Cliffs Natural Resources presently has an average rating of “Hold” and a consensus target price of $19.47.
Cliffs Natural Resources (NYSE:CLF) opened at 14.54 on Monday. Cliffs Natural Resources has a one year low of $13.60 and a one year high of $28.98. The stock has a 50-day moving average of $15.95 and a 200-day moving average of $19.83. The company has a market cap of $2.227 billion and a P/E ratio of 12.24.
Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings results on Thursday, April 24th. The company reported ($0.54) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.60 earnings per share. Cliffs Natural Resources’s revenue was down 17.6% compared to the same quarter last year. Analysts expect that Cliffs Natural Resources will post $0.01 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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