Cliffs Natural Resources Inc. (CLF) Given Average Recommendation of “Hold” by Analysts
Cliffs Natural Resources Inc. (NYSE:CLF) has been assigned an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the company. Seven research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $5.16.
A number of equities analysts recently commented on the company. Credit Suisse Group AG set a $2.00 target price on Cliffs Natural Resources and gave the company a “sell” rating in a report on Saturday. Cowen and Company upped their target price on Cliffs Natural Resources from $6.00 to $9.00 and gave the company a “market perform” rating in a report on Wednesday, August 3rd. TheStreet upgraded Cliffs Natural Resources from a “sell” rating to a “hold” rating in a report on Monday, August 1st. JPMorgan Chase & Co. restated a “buy” rating and set a $10.50 target price (up previously from $7.00) on shares of Cliffs Natural Resources in a report on Tuesday, July 12th. Finally, Morgan Stanley restated a “sell” rating and set a $2.00 target price on shares of Cliffs Natural Resources in a report on Tuesday, August 16th.
Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its stake in Cliffs Natural Resources by 40.3% in the third quarter. BNP Paribas Arbitrage SA now owns 59,118 shares of the mining company’s stock valued at $346,000 after buying an additional 16,980 shares during the period. IFP Advisors Inc boosted its stake in Cliffs Natural Resources by 3.4% in the second quarter. IFP Advisors Inc now owns 30,278 shares of the mining company’s stock valued at $172,000 after buying an additional 1,000 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Cliffs Natural Resources during the second quarter valued at approximately $1,047,000. Schwab Charles Investment Management Inc. boosted its stake in Cliffs Natural Resources by 186.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,220,732 shares of the mining company’s stock valued at $23,932,000 after buying an additional 2,746,729 shares during the period. Finally, Stifel Financial Corp boosted its stake in Cliffs Natural Resources by 20.8% in the second quarter. Stifel Financial Corp now owns 19,532 shares of the mining company’s stock valued at $111,000 after buying an additional 3,360 shares during the period. 50.66% of the stock is currently owned by institutional investors.
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Shares of Cliffs Natural Resources (NYSE:CLF) traded down 3.584% during trading on Tuesday, reaching $5.515. The company’s stock had a trading volume of 3,265,560 shares. Cliffs Natural Resources has a one year low of $1.20 and a one year high of $8.45. The firm has a market cap of $1.01 billion, a P/E ratio of 27.438 and a beta of 1.75. The stock’s 50 day moving average is $5.83 and its 200 day moving average is $5.26.
Cliffs Natural Resources (NYSE:CLF) last announced its earnings results on Thursday, July 28th. The mining company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.00 by $0.07. The business had revenue of $496 million for the quarter, compared to the consensus estimate of $482.37 million. Cliffs Natural Resources’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.28) EPS. On average, equities analysts forecast that Cliffs Natural Resources will post $1.09 EPS for the current fiscal year.
Cliffs Natural Resources Company Profile
Cliffs Natural Resources Inc is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore. The Company is a producer of iron ore pellets, primarily selling production from U.S.
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