Investors Buy Shares of Cliffs Natural Resources Inc. (CLF) on Weakness
Investors purchased shares of Cliffs Natural Resources Inc. (NYSE:CLF) on weakness during trading hours on Thursday. $46.22 million flowed into the stock on the tick-up and $34.65 million flowed out of the stock on the tick-down, for a money net flow of $11.57 million into the stock. Of all stocks tracked, Cliffs Natural Resources had the 11th highest net in-flow for the day. Cliffs Natural Resources traded down ($0.45) for the day and closed at $6.62
A number of equities research analysts have commented on the stock. TheStreet raised shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Cowen and Company lifted their target price on shares of Cliffs Natural Resources from $6.00 to $9.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. cut their target price on shares of Cliffs Natural Resources from $10.50 to $10.00 and set an “overweight” rating for the company in a research report on Friday, July 29th. Zacks Investment Research raised shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a research report on Monday, August 1st. Finally, Clarkson Capital raised shares of Cliffs Natural Resources from a “sell” rating to a “neutral” rating in a research report on Monday, July 18th. Eight analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Cliffs Natural Resources presently has a consensus rating of “Hold” and a consensus target price of $5.57.
The firm has a 50 day moving average price of $6.86 and a 200-day moving average price of $4.14. The firm has a market cap of $1.22 billion and a PE ratio of 32.94.
Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings data on Thursday, July 28th. The mining company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.00 by $0.07. The business earned $496 million during the quarter, compared to analyst estimates of $482.37 million. During the same quarter in the previous year, the company earned ($0.28) EPS. The firm’s revenue was down .4% compared to the same quarter last year. Analysts anticipate that Cliffs Natural Resources Inc. will post $1.13 earnings per share for the current year.
An institutional investor recently raised its position in Cliffs Natural Resources stock. California Public Employees Retirement System boosted its stake in shares of Cliffs Natural Resources Inc. (NYSE:CLF) by 25.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 1.39% of Cliffs Natural Resources worth $3,364,000 as of its most recent SEC filing.
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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