Cliffs Natural Resources Inc. (CLF) Trading 5.9% Higher
Cliffs Natural Resources Inc. (NYSE:CLF) shares traded up 5.9% 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.
A number of research analysts have weighed in on the company. Axiom Securities reaffirmed a “sell” rating on shares of Cliffs Natural Resources in a report on Tuesday. Macquarie dropped their price target on Cliffs Natural Resources from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Monday. Zacks Investment Research downgraded Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley reiterated a “sell” rating and set a $2.00 price target on shares of Cliffs Natural Resources in a research report on Tuesday, August 16th. Finally, 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. Seven equities research 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. The stock presently has an average rating of “Hold” and an average price target of $4.89.
The firm’s 50 day moving average is $7.04 and its 200 day moving average is $4.59. The company has a market capitalization of $1.03 billion and a PE ratio of 27.736.
Cliffs Natural Resources (NYSE:CLF) last issued its quarterly earnings results on Thursday, July 28th. The mining company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.00 by $0.07. During the same quarter in the previous year, the company earned ($0.28) EPS. The company earned $496 million during the quarter, compared to analysts’ expectations of $482.37 million. The business’s quarterly revenue was down .4% compared to the same quarter last year. Analysts forecast that Cliffs Natural Resources Inc. will post $1.09 EPS for the current fiscal 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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