Cliffs Natural Resources Inc. (CLF) Shares Down 2.4%
Shares of Cliffs Natural Resources Inc. (NYSE:CLF) fell 2.4% during mid-day 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 brokerages have recently issued reports on CLF. TheStreet upgraded Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Cowen and Company lifted their price target on Cliffs Natural Resources from $6.00 to $9.00 and gave the company a “market perform” rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. decreased their price objective on Cliffs Natural Resources from $10.50 to $10.00 and set an “overweight” rating on the stock in a report on Friday, July 29th. Zacks Investment Research raised Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a report on Monday, August 1st. Finally, Clarkson Capital raised Cliffs Natural Resources from a “sell” rating to a “neutral” rating in a report on Monday, July 18th. 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. The stock presently has a consensus rating of “Hold” and an average target price of $4.66.
The stock’s 50-day moving average is $7.03 and its 200-day moving average is $4.29. The firm has a market cap of $1.17 billion and a PE ratio of 31.59.
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 analysts’ consensus estimates of $0.00 by $0.07. During the same period last year, the company earned ($0.28) EPS. The business earned $496 million during the quarter, compared to the consensus estimate of $482.37 million. The business’s revenue was down .4% on a year-over-year basis. Equities analysts anticipate that Cliffs Natural Resources Inc. will post $1.13 EPS for the current fiscal year.
A hedge fund recently raised its stake in Cliffs Natural Resources stock. California Public Employees Retirement System boosted its position in shares of Cliffs Natural Resources Inc. (NYSE:CLF) by 25.4% during the fourth quarter, according to its most recent Form 13F 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 approximately 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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