Cliffs Natural Resources Inc. (CLF) Trading 2.3% Higher
Shares of Cliffs Natural Resources Inc. (NYSE:CLF) traded up 2.3% on Monday . The stock traded as high as $6.25 and last traded at $6.23, with a volume of 7,982,596 shares changing hands. The stock had previously closed at $6.09.
Several analysts have recently weighed in on the stock. TheStreet upgraded 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. decreased their target price on shares of Cliffs Natural Resources from $10.50 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, July 29th. Zacks Investment Research upgraded shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research report on Monday, August 1st. Finally, Clarkson Capital upgraded 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’s stock. The company has a consensus rating of “Hold” and an average price target of $4.66.
The firm’s 50 day moving average price is $7.09 and its 200 day moving average price is $4.41. The company has a market cap of $1.15 billion and a PE ratio of 31.09.
Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings results on Thursday, July 28th. The mining company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ 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. Cliffs Natural Resources’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.28) EPS. On average, equities research analysts forecast that Cliffs Natural Resources Inc. will post $1.13 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Cliffs Natural Resources stock. California Public Employees Retirement System raised its position 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. 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 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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