Cliffs Natural Resources Director Acquires $98,760 in Stock (CLF)
Cliffs Natural Resources (NYSE:CLF) Director Robert P. Fisher, Jr. bought 6,000 shares of Cliffs Natural Resources stock on the open market in a transaction dated Thursday, August 21st. The stock was purchased at an average price of $16.46 per share, for a total transaction of $98,760.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $98,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Cliffs Natural Resources (NYSE:CLF) traded down 3.11% during mid-day trading on Thursday, hitting $16.21. 6,787,959 shares of the company’s stock traded hands. Cliffs Natural Resources has a 52-week low of $13.60 and a 52-week high of $28.98. The stock has a 50-day moving average of $16.33 and a 200-day moving average of $17.64. The company has a market cap of $2.483 billion and a price-to-earnings ratio of 51.64.
Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.09) by $0.08. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was down 26.0% on a year-over-year basis. On average, analysts predict that Cliffs Natural Resources will post $-0.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Wednesday, August 13th.
CLF has been the subject of a number of recent research reports. Analysts at Bernstein upgraded shares of Cliffs Natural Resources from an “underperform” rating to a “market perform” rating in a research note on Thursday, July 31st. They now have a $16.00 price target on the stock, up previously from $13.00. Separately, analysts at Sanford C. Bernstein upgraded shares of Cliffs Natural Resources from an “underperform” rating to a “market perform” rating in a research note on Thursday, July 31st. They now have a $16.00 price target on the stock, up previously from $13.00. Finally, analysts at Clarkson Capital downgraded shares of Cliffs Natural Resources from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 30th. They now have a $13.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $16.93.
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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