Morningstar Assigns BB+ Credit Rating to Cliffs Natural Resources (CLF)
Cliffs Natural Resources (NYSE:CLF) has received a “BB+” credit rating from analysts at Morningstar. The firm’s “BB+” rating indicates that the company is an above-average default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
CLF has been the subject of a number of other 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 research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $16.93.
Cliffs Natural Resources (NYSE:CLF) opened at 14.14 on Friday. Cliffs Natural Resources has a one year low of $13.60 and a one year high of $28.98. The stock’s 50-day moving average is $16.32 and its 200-day moving average is $17.25. The company has a market cap of $2.166 billion and a P/E ratio of 44.54.
Cliffs Natural Resources (NYSE:CLF) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the 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 $-0.35 earnings per share 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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