Cliffs Natural Resources Inc. (NYSE:CLF) shares traded down 2.4% during trading on Tuesday . The company traded as low as $6.46 and last traded at $6.54, with a volume of 7,355,063 shares changing hands. The stock had previously closed at $6.70.

A number of research analysts have commented on the company. Cowen and Company reaffirmed a “hold” rating on shares of Cliffs Natural Resources in a research report on Saturday, April 30th. Morgan Stanley reaffirmed a “sell” rating and set a $2.00 price target on shares of Cliffs Natural Resources in a research report on Tuesday. Macquarie raised Cliffs Natural Resources from a “neutral” rating to an “outperform” rating and upped their price target for the company from $4.00 to $7.50 in a research report on Friday, June 10th. FBR & Co upped their price target on Cliffs Natural Resources from $3.00 to $4.00 and gave the company a “mkt perform” rating in a research report on Thursday, May 5th. Finally, TheStreet raised Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Eight investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $4.66.

The company’s 50 day moving average is $6.94 and its 200 day moving average is $4.25. The firm has a market cap of $1.17 billion and a price-to-earnings ratio of 31.59.

Cliffs Natural Resources (NYSE:CLF) last announced its earnings results on Thursday, July 28th. The mining company reported $0.07 earnings per share (EPS) 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 firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.28) EPS. 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 increased 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 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 about 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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