Cliffs Natural Resources Inc. (NYSE:CLF) – Investment analysts at Jefferies Group lifted their FY2018 earnings per share (EPS) estimates for shares of Cliffs Natural Resources in a report issued on Tuesday. Jefferies Group analyst S. Rosenfeld now expects that the mining company will earn $1.19 per share for the year, up from their prior forecast of $1.05. Jefferies Group currently has a “Buy” rating on the stock.

Cliffs Natural Resources (NYSE:CLF) last issued its earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. The company had revenue of $569.30 million for the quarter, compared to the consensus estimate of $485.93 million. Cliffs Natural Resources had a negative return on equity of 13.83% and a net margin of 2.44%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS.

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Other equities research analysts have also issued research reports about the company. ValuEngine raised Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. BidaskClub raised Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. FBR & Co reissued a “buy” rating and issued a $10.00 target price on shares of Cliffs Natural Resources in a research report on Wednesday, September 6th. TheStreet raised Cliffs Natural Resources from a “d+” rating to a “c” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research raised Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $9.29.

Shares of Cliffs Natural Resources (NYSE CLF) traded up 1.81% during trading on Wednesday, hitting $7.31. The stock had a trading volume of 7,187,764 shares. Cliffs Natural Resources has a 1-year low of $4.91 and a 1-year high of $12.37. The firm has a 50 day moving average of $7.47 and a 200 day moving average of $7.07. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 33.53 and a beta of 1.65.

In related news, Chairman Lourenco Goncalves purchased 100,000 shares of the stock in a transaction on Friday, September 15th. The shares were purchased at an average price of $7.11 per share, with a total value of $711,000.00. Following the transaction, the chairman now directly owns 3,586,970 shares of the company’s stock, valued at $25,503,356.70. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the business. Cetera Investment Advisers acquired a new position in shares of Cliffs Natural Resources during the 2nd quarter worth approximately $1,664,000. Advisory Services Network LLC increased its position in shares of Cliffs Natural Resources by 743.6% during the 2nd quarter. Advisory Services Network LLC now owns 26,887 shares of the mining company’s stock worth $186,000 after purchasing an additional 23,700 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Cliffs Natural Resources by 34.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 224,740 shares of the mining company’s stock worth $1,555,000 after purchasing an additional 57,094 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Cliffs Natural Resources by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 26,167 shares of the mining company’s stock worth $181,000 after purchasing an additional 2,016 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Cliffs Natural Resources by 27.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 231,240 shares of the mining company’s stock worth $1,600,000 after purchasing an additional 49,167 shares during the last quarter. 58.28% of the stock is currently owned by hedge funds and other institutional investors.

Cliffs Natural Resources Company Profile

Cleveland-Cliffs Inc, formerly 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.

Earnings History and Estimates for Cliffs Natural Resources (NYSE:CLF)

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