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.

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Cliffs Natural Resources by 24.7% during the second quarter. Vanguard Group Inc. now owns 31,963,836 shares of the mining company’s stock valued at $221,190,000 after acquiring an additional 6,321,205 shares during the period. BlackRock Inc. raised its stake in shares of Cliffs Natural Resources by 1.6% in the second quarter. BlackRock Inc. now owns 18,860,269 shares of the mining company’s stock worth $130,512,000 after acquiring an additional 306,081 shares during the last quarter. State Street Corp increased its stake in Cliffs Natural Resources by 6.5% in the second quarter. State Street Corp now owns 10,720,937 shares of the mining company’s stock valued at $74,189,000 after purchasing an additional 653,261 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Cliffs Natural Resources by 20.1% during the second quarter. Dimensional Fund Advisors LP now owns 6,297,769 shares of the mining company’s stock worth $43,581,000 after purchasing an additional 1,056,056 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Cliffs Natural Resources by 16.8% during the second quarter. Northern Trust Corp now owns 4,977,719 shares of the mining company’s stock worth $34,446,000 after purchasing an additional 717,021 shares during the last quarter. Institutional investors own 56.77% 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.

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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.

Analyst Recommendations for Cliffs Natural Resources (NYSE:CLF)

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