FBR & Co Analysts Give Cliffs Natural Resources Inc. (CLF) a $6.00 Price Target
Cliffs Natural Resources Inc. (NYSE:CLF) received a $6.00 price target from analysts at FBR & Co in a research report issued on Thursday. The brokerage presently has a a “hold” rating on the mining company’s stock. FBR & Co’s price target indicates a potential upside of 4.71% from the company’s current price.
A number of other research firms have also commented on CLF. Zacks Investment Research lowered shares of Cliffs Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, July 8th. Morgan Stanley reiterated a “sell” rating and set a $3.00 price target on shares of Cliffs Natural Resources in a report on Wednesday, September 28th. Axiom Securities reiterated a “sell” rating on shares of Cliffs Natural Resources in a report on Tuesday, August 30th. Credit Suisse Group AG reiterated an “underperform” rating and set a $2.00 price target (down from $5.58) on shares of Cliffs Natural Resources in a report on Friday, October 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Cliffs Natural Resources from $10.50 to $10.00 and set an “overweight” rating for the company in a report on Friday, July 29th. Seven analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Cliffs Natural Resources presently has a consensus rating of “Hold” and a consensus target price of $4.78.
Cliffs Natural Resources (NYSE:CLF) traded down 5.41% on Thursday, hitting $5.42. 5,723,603 shares of the company’s stock were exchanged. The stock has a market cap of $996.58 million, a P/E ratio of 26.97 and a beta of 1.75. Cliffs Natural Resources has a 52-week low of $1.20 and a 52-week high of $8.45. The firm has a 50 day moving average price of $5.79 and a 200-day moving average price of $5.27.
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Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings results on Thursday, July 28th. The mining company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.00 by $0.07. The firm had revenue of $496 million for the quarter, compared to the consensus estimate of $482.37 million. During the same quarter in the prior year, the company earned ($0.28) earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. Analysts predict that Cliffs Natural Resources will post $1.09 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in CLF. BlackRock Inc. increased its stake in shares of Cliffs Natural Resources by 15.1% in the first quarter. BlackRock Inc. now owns 35,494 shares of the mining company’s stock valued at $107,000 after buying an additional 4,666 shares during the period. Stifel Financial Corp increased its stake in shares of 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. Teacher Retirement System of Texas increased its stake in shares of Cliffs Natural Resources by 19.0% in the second quarter. Teacher Retirement System of Texas now owns 19,954 shares of the mining company’s stock valued at $113,000 after buying an additional 3,189 shares during the period. LMR Partners LLP purchased a new stake in shares of Cliffs Natural Resources during the second quarter valued at approximately $114,000. Finally, Amalgamated Bank increased its stake in shares of Cliffs Natural Resources by 16.4% in the second quarter. Amalgamated Bank now owns 19,188 shares of the mining company’s stock valued at $127,000 after buying an additional 2,710 shares during the period. 50.66% of the stock is currently owned by institutional investors.
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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