Cliffs Natural Resources Inc. (CLF) Given a $6.00 Price Target by FBR & Co Analysts
A number of other analysts have also recently commented on the stock. Credit Suisse Group AG set a $2.00 price objective on shares of Cliffs Natural Resources and gave the company a sell rating in a research report on Saturday, October 8th. Zacks Investment Research raised shares of Cliffs Natural Resources from a hold rating to a buy rating and set a $6.50 target price for the company in a research note on Monday, October 3rd. Morgan Stanley reaffirmed a sell rating and issued a $3.00 target price on shares of Cliffs Natural Resources in a research note on Wednesday, September 28th. Axiom Securities reaffirmed a sell rating on shares of Cliffs Natural Resources in a research note on Tuesday, August 30th. Finally, Macquarie reduced their target price on shares of Cliffs Natural Resources from $11.00 to $10.00 and set an outperform rating for the company in a research note on Monday, August 29th. Seven investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $4.78.
Cliffs Natural Resources (NYSE:CLF) opened at 5.78 on Thursday. Cliffs Natural Resources has a 1-year low of $1.20 and a 1-year high of $8.45. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 28.76 and a beta of 1.75. The stock has a 50 day moving average price of $5.77 and a 200-day moving average price of $5.34.
Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings data on Thursday, July 28th. The mining company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.00 by $0.07. The firm earned $496 million during the quarter, compared to the consensus estimate of $482.37 million. During the same quarter in the prior year, the company earned ($0.28) EPS. Cliffs Natural Resources’s quarterly revenue was down .4% on a year-over-year basis. Equities analysts predict that Cliffs Natural Resources will post $1.09 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in shares of Cliffs Natural Resources by 52.8% in the first quarter. Renaissance Technologies LLC now owns 10,432,099 shares of the mining company’s stock worth $31,296,000 after buying an additional 3,605,299 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Cliffs Natural Resources by 3.5% in the first quarter. Teachers Advisors Inc. now owns 544,734 shares of the mining company’s stock worth $1,634,000 after buying an additional 18,634 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Cliffs Natural Resources during the first quarter worth about $1,629,000. Loomis Sayles & Co. L P acquired a new stake in shares of Cliffs Natural Resources during the first quarter worth about $2,500,000. Finally, Sanders Morris Harris Inc. boosted its stake in shares of Cliffs Natural Resources by 110.2% in the second quarter. Sanders Morris Harris Inc. now owns 103,000 shares of the mining company’s stock worth $585,000 after buying an additional 54,000 shares during the period. 50.67% of the stock is owned by institutional investors.
About Cliffs Natural Resources
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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