Cliffs Natural Resources Inc. (CLF) Stock Price Up 5.9%
Cliffs Natural Resources Inc. (NYSE:CLF) rose 5.9% during mid-day trading on Monday . The company traded as high as $6.14 and last traded at $6.11, with a volume of 4,636,445 shares changing hands. The stock had previously closed at $5.77.
CLF has been the topic of a number of research reports. Morgan Stanley restated a “sell” rating and issued a $2.00 price objective on shares of Cliffs Natural Resources in a research note on Tuesday, August 16th. JPMorgan Chase & Co. restated a “buy” rating and issued a $10.50 price objective (up from $7.00) on shares of Cliffs Natural Resources in a research note on Tuesday, July 12th. FBR & Co boosted their price objective on Cliffs Natural Resources from $4.00 to $7.00 and gave the company a “market perform” rating in a research note on Tuesday, July 26th. Zacks Investment Research cut Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Macquarie upgraded 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. Seven investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $4.89.
The stock has a 50 day moving average of $7.07 and a 200 day moving average of $4.49. The stock has a market capitalization of $1.11 billion and a price-to-earnings ratio of 30.00.
Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings data on Thursday, July 28th. The mining company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.00 by $0.07. During the same period in the previous year, the firm earned ($0.28) earnings per share. The company 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. On average, equities research analysts expect that Cliffs Natural Resources Inc. will post $1.13 EPS for the current year.
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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