Stock Traders Purchase High Volume of Cliffs Natural Resources Put Options (CLF)
Cliffs Natural Resources (NYSE:CLF) was the target of some unusual options trading activity on Thursday. Stock traders purchased 14,361 put options on the stock, AnalystRatings.Net reports. This represents an increase of approximately 128% compared to the average volume of 6,307 put options.
In other Cliffs Natural Resources news, Director Robert P. Fisher, Jr. bought 6,000 shares of the company’s stock on the open market in a transaction dated Thursday, August 21st. The stock was purchased at an average cost of $16.46 per share, with a total value of $98,760.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on CLF shares. 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 issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $16.93.
Cliffs Natural Resources (NYSE:CLF) traded down 6.05% during mid-day trading on Thursday, hitting $15.06. The stock had a trading volume of 12,534,743 shares. Cliffs Natural Resources has a 1-year low of $13.60 and a 1-year high of $28.98. The stock’s 50-day moving average is $16.32 and its 200-day moving average is $17.50. The company has a market cap of $2.307 billion and a P/E ratio of 49.48.
Cliffs Natural Resources (NYSE:CLF) last released its earnings data 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 prior year, the company posted $0.82 earnings per share. The company’s quarterly revenue was down 26.0% on a year-over-year basis. Analysts expect that Cliffs Natural Resources will post $-0.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors 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 3.98%. The ex-dividend date is Wednesday, August 13th.
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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