Cliffs Natural Resources Inc. (CLF) Cut to “Sell” at BidaskClub
Cliffs Natural Resources Inc. (NYSE:CLF) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
Other equities analysts also recently issued research reports about the company. FBR & Co set a $10.00 target price on Cliffs Natural Resources and gave the company a “buy” rating in a report on Saturday, June 17th. Clarkson Capital reiterated a “neutral” rating on shares of Cliffs Natural Resources in a report on Thursday, July 27th. ValuEngine downgraded Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded Cliffs Natural Resources from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Finally, Jefferies Group LLC assumed coverage on Cliffs Natural Resources in a report on Friday, July 7th. They issued a “buy” rating and a $9.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Cliffs Natural Resources presently has a consensus rating of “Hold” and an average target price of $8.50.
Cliffs Natural Resources (NYSE CLF) traded up 3.60% during trading on Wednesday, reaching $7.49. 12,799,291 shares of the company’s stock traded hands. The stock has a market capitalization of $2.22 billion, a P/E ratio of 34.36 and a beta of 1.69. The company has a 50-day moving average of $7.32 and a 200 day moving average of $7.76. Cliffs Natural Resources has a 12 month low of $4.91 and a 12 month high of $12.37.
Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings data on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. The company had revenue of $569.30 million during the quarter, compared to analyst estimates of $485.93 million. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. On average, equities research analysts expect that Cliffs Natural Resources will post $0.91 earnings per share for the current fiscal year.
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In other news, Chairman Lourenco Goncalves acquired 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average price of $7.19 per share, for a total transaction of $719,000.00. Following the completion of the acquisition, the chairman now owns 3,486,970 shares of the company’s stock, valued at approximately $25,071,314.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. SFE Investment Counsel purchased a new position in Cliffs Natural Resources during the first quarter worth approximately $112,000. Quantum Capital Management bought a new position in shares of Cliffs Natural Resources during the first quarter valued at approximately $113,000. Nuveen Asset Management LLC increased its position in shares of Cliffs Natural Resources by 1.2% in the first quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock valued at $115,000 after buying an additional 164 shares during the period. Comerica Bank increased its position in shares of Cliffs Natural Resources by 49.5% in the second quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock valued at $116,000 after buying an additional 5,129 shares during the period. Finally, Invictus RG bought a new position in shares of Cliffs Natural Resources during the first quarter valued at approximately $121,000. Hedge funds and other institutional investors own 65.23% of the company’s stock.
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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