Cliffs Natural Resources Inc. (NYSE:CLF) shares were down 5.9% during mid-day trading on Wednesday . The company traded as low as $5.83 and last traded at $5.90, with a volume of 8,445,555 shares changing hands. The stock had previously closed at $6.27.

Several research firms recently weighed in on CLF. Morgan Stanley restated a “sell” rating and set a $2.00 price target on shares of Cliffs Natural Resources in a report on Tuesday, August 16th. JPMorgan Chase & Co. restated a “buy” rating and set a $10.50 price target (up from $7.00) on shares of Cliffs Natural Resources in a report on Tuesday, July 12th. FBR & Co boosted their price target on shares of Cliffs Natural Resources from $4.00 to $7.00 and gave the stock a “market perform” rating in a report on Tuesday, July 26th. Zacks Investment Research upgraded shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Monday, July 25th. Finally, Macquarie upgraded shares of Cliffs Natural Resources from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $4.00 to $7.50 in a report on Friday, June 10th. Eight research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Cliffs Natural Resources presently has an average rating of “Hold” and an average price target of $4.66.

The firm has a 50 day moving average price of $7.07 and a 200-day moving average price of $4.44. The stock has a market cap of $1.05 billion and a price-to-earnings ratio of 28.41.

Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings results on Thursday, July 28th. The mining company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.00 by $0.07. During the same quarter in the prior year, the firm posted ($0.28) EPS. The business earned $496 million during the quarter, compared to the consensus estimate of $482.37 million. The company’s revenue for the quarter was down .4% on a year-over-year basis. 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. Schwab Charles Investment Management Inc. raised its stake in Cliffs Natural Resources Inc. (NYSE:CLF) by 28.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,264,421 shares of the mining company’s stock after buying an additional 278,523 shares during the period. Schwab Charles Investment Management Inc. owned about 0.82% of Cliffs Natural Resources worth $1,998,000 at the end of the most recent reporting period.

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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