Cliffs Natural Resources Inc. (CLF) Stock Price Up 6.3%
Shares of Cliffs Natural Resources Inc. (NYSE:CLF) rose 6.3% during trading on Monday . The company traded as high as $6.78 and last traded at $6.75, with a volume of 10,106,315 shares traded. The stock had previously closed at $6.35.
CLF has been the subject of a number of research reports. Zacks Investment Research raised shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a research note on Wednesday, May 4th. JPMorgan Chase & Co. reissued a “buy” rating and set a $10.50 target price (up previously from $7.00) on shares of Cliffs Natural Resources in a research note on Tuesday, July 12th. Cowen and Company restated a “hold” rating on shares of Cliffs Natural Resources in a research report on Saturday, April 30th. Finally, TheStreet upgraded shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Eight research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $5.57.
The company has a market cap of $1.23 billion and a PE ratio of 33.33. The company has a 50-day moving average of $6.89 and a 200 day moving average of $4.17.
Cliffs Natural Resources (NYSE:CLF) last posted its earnings results on Thursday, July 28th. The mining company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.00 by $0.07. The business had revenue of $496 million for the quarter, compared to analysts’ expectations of $482.37 million. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.28) earnings per share. Equities research analysts anticipate that Cliffs Natural Resources Inc. will post $1.13 earnings per share for the current year.
A hedge fund recently raised its stake in Cliffs Natural Resources stock. California Public Employees Retirement System raised its stake in shares of Cliffs Natural Resources Inc. (NYSE:CLF) by 25.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 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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