Cliffs Natural Resources Inc. (CLF) Sees Strong Trading Volume
Cliffs Natural Resources Inc. (NYSE:CLF) shares saw unusually-high trading volume on Monday . Approximately 11,648,359 shares changed hands during trading, a decline of 3% from the previous session’s volume of 11,981,443 shares.The stock last traded at $6.80 and had previously closed at $6.10.
CLF has been the subject of several research reports. Bank of America Corp. restated an “underperform” rating on shares of Cliffs Natural Resources in a research report on Thursday, March 17th. Nomura Holdings Inc. restated a “reduce” rating and set a $1.50 price objective on shares of Cliffs Natural Resources in a research report on Friday, March 18th. Morgan Stanley cut their price objective on Cliffs Natural Resources from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Monday, March 28th. Macquarie restated a “hold” rating on shares of Cliffs Natural Resources in a research report on Saturday, April 9th. Finally, FBR & Co restated a “market perform” rating and set a $4.00 price objective (up from $3.00) on shares of Cliffs Natural Resources in a research report on Friday, April 29th. Eight research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Cliffs Natural Resources currently has a consensus rating of “Hold” and an average target price of $4.21.
The firm has a 50 day moving average price of $4.86 and a 200 day moving average price of $3.21. The firm has a market capitalization of $1.22 billion and a PE ratio of 13.39.
Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings data on Thursday, April 28th. The mining company reported $0.62 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.81. During the same quarter in the previous year, the business posted $0.02 EPS. The company earned $306 million during the quarter, compared to analyst estimates of $280.92 million. The company’s revenue was down 31.4% compared to the same quarter last year. Equities analysts anticipate that Cliffs Natural Resources Inc. will post $0.64 earnings per share for the current year.
In other Cliffs Natural Resources news, Director Douglas C. Taylor sold 7,231,520 shares of the firm’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $3.81, for a total value of $27,552,091.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lourenco Goncalves acquired 100,000 shares of the stock in a transaction on Monday, May 9th. The stock was bought at an average price of $3.04 per share, with a total value of $304,000.00. Following the transaction, the chief executive officer now directly owns 2,475,044 shares in the company, valued at approximately $7,524,133.76. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Cliffs Natural Resources stock. California Public Employees Retirement System raised its stake in Cliffs Natural Resources Inc. (NYSE:CLF) by 25.4% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,129,000 shares of the mining company’s stock after buying an additional 431,700 shares during the period. California Public Employees Retirement System owned about 1.39% of Cliffs Natural Resources worth $3,364,000 as of its most recent filing with the SEC.
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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