Cliffs Natural Resources Inc. (CLF) Receives Consensus Rating of “Hold” from Analysts
Cliffs Natural Resources Inc. (NYSE:CLF) has been assigned an average recommendation of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $8.96.
A number of equities analysts have weighed in on CLF shares. ValuEngine downgraded shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. B. Riley reissued a “buy” rating on shares of Cliffs Natural Resources in a report on Wednesday, November 1st. Zacks Investment Research cut Cliffs Natural Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. FBR & Co restated a “buy” rating and set a $10.00 price target on shares of Cliffs Natural Resources in a report on Friday, October 20th. Finally, KeyCorp restated a “hold” rating on shares of Cliffs Natural Resources in a report on Tuesday, September 19th.
In other news, Chairman Lourenco Goncalves bought 100,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were acquired at an average cost of $7.11 per share, with a total value of $711,000.00. Following the completion of the transaction, the chairman now owns 3,586,970 shares of the company’s stock, valued at approximately $25,503,356.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.
Shares of Cliffs Natural Resources (NYSE CLF) opened at $6.66 on Friday. The company has a market capitalization of $1,962.90, a P/E ratio of 7.20 and a beta of 1.58. The company has a debt-to-equity ratio of -2.03, a current ratio of 1.89 and a quick ratio of 1.18. Cliffs Natural Resources has a fifty-two week low of $5.56 and a fifty-two week high of $12.37.
Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings results on Friday, October 20th. The mining company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. The firm had revenue of $698.00 million during the quarter, compared to analysts’ expectations of $669.25 million. Cliffs Natural Resources had a net margin of 5.48% and a negative return on equity of 29.06%. The firm’s revenue was up 26.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.11) EPS. research analysts forecast that Cliffs Natural Resources will post 0.49 EPS for the current year.
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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