Cliffs Natural Resources Inc. to Post FY2018 Earnings of $0.72 Per Share, KeyCorp Forecasts (CLF)
Cliffs Natural Resources Inc. (NYSE:CLF) – Equities researchers at KeyCorp increased their FY2018 earnings per share (EPS) estimates for Cliffs Natural Resources in a research report issued on Monday. KeyCorp analyst P. Gibbs now expects that the mining company will post earnings per share of $0.72 for the year, up from their prior forecast of $0.71. KeyCorp has a “Hold” rating on the stock.
Cliffs Natural Resources (NYSE:CLF) last issued its quarterly earnings data on Friday, October 20th. The mining company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. Cliffs Natural Resources had a net margin of 5.48% and a negative return on equity of 29.06%. The firm had revenue of $698.00 million during the quarter, compared to the consensus estimate of $669.25 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year.
A number of other equities research analysts also recently issued reports on CLF. B. Riley reissued a “buy” rating on shares of Cliffs Natural Resources in a research report on Wednesday, November 1st. Clarkson Capital restated a “neutral” rating on shares of Cliffs Natural Resources in a research note on Thursday, July 27th. Cowen and Company restated a “hold” rating on shares of Cliffs Natural Resources in a research note on Thursday, August 3rd. ValuEngine cut shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research cut shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $8.97.
Shares of Cliffs Natural Resources (NYSE CLF) traded up $0.11 during mid-day trading on Wednesday, hitting $6.41. 3,360,449 shares of the stock were exchanged, compared to its average volume of 14,430,420. Cliffs Natural Resources has a 12-month low of $5.56 and a 12-month high of $12.37. The company has a debt-to-equity ratio of -2.03, a quick ratio of 1.18 and a current ratio of 1.89. The company has a market cap of $1,829.47, a P/E ratio of 6.71 and a beta of 1.58.
A number of hedge funds have recently made changes to their positions in CLF. Nuveen Asset Management LLC lifted its stake in Cliffs Natural Resources by 1.2% in the 1st quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock worth $115,000 after purchasing an additional 164 shares in the last quarter. Comerica Bank lifted its stake in Cliffs Natural Resources by 49.5% in the 2nd quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock worth $116,000 after purchasing an additional 5,129 shares in the last quarter. ARP Americas LLC lifted its stake in Cliffs Natural Resources by 72.5% in the 2nd quarter. ARP Americas LLC now owns 17,600 shares of the mining company’s stock worth $122,000 after purchasing an additional 7,400 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Cliffs Natural Resources by 486.8% in the 2nd quarter. D.A. Davidson & CO. now owns 18,597 shares of the mining company’s stock worth $128,000 after purchasing an additional 15,428 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in Cliffs Natural Resources in the 2nd quarter worth $128,000. Institutional investors and hedge funds own 61.33% of the company’s stock.
In related news, Chairman Lourenco Goncalves purchased 100,000 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were acquired at an average price of $7.11 per share, for a total transaction of $711,000.00. Following the purchase, the chairman now directly owns 3,586,970 shares in the company, valued at $25,503,356.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by insiders.
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.
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