Cliffs Natural Resources Inc. (NYSE:CLF) had its price target upped by JPMorgan Chase & Co. from $7.00 to $10.00 in a research report released on Wednesday. JPMorgan Chase & Co. currently has an overweight rating on the mining company’s stock.

A number of other equities research analysts have also weighed in on CLF. Axiom Securities reiterated a sell rating on shares of Cliffs Natural Resources in a research note on Saturday, November 26th. Vetr upgraded shares of Cliffs Natural Resources from a sell rating to a hold rating and set a $9.01 target price for the company in a research note on Tuesday. Cowen and Company boosted their target price on shares of Cliffs Natural Resources from $6.00 to $9.00 and gave the company a market perform rating in a research note on Wednesday, August 3rd. Morgan Stanley reiterated a sell rating and set a $2.00 target price on shares of Cliffs Natural Resources in a research note on Tuesday, August 16th. Finally, Zacks Investment Research upgraded 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. Six analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $5.80.

Shares of Cliffs Natural Resources (NYSE:CLF) opened at 8.81 on Wednesday. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 44.95 and a beta of 1.42. The company’s 50-day moving average price is $6.59 and its 200 day moving average price is $5.97. Cliffs Natural Resources has a 1-year low of $1.20 and a 1-year high of $10.14.

Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings data on Thursday, October 27th. The mining company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.30. The company earned $553 million during the quarter, compared to analyst estimates of $597.30 million. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) earnings per share. On average, analysts predict that Cliffs Natural Resources will post $0.77 earnings per share for the current fiscal year.

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In other Cliffs Natural Resources news, Director Joseph A. Rutkowski purchased 6,000 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was purchased at an average price of $5.32 per share, with a total value of $31,920.00. Following the acquisition, the director now owns 68,236 shares in the company, valued at $363,015.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Baldwin purchased 10,000 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was acquired at an average cost of $5.49 per share, with a total value of $54,900.00. Following the acquisition, the director now owns 68,160 shares in the company, valued at approximately $374,198.40. The disclosure for this purchase can be found here. Company insiders own 4.52% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in shares of Cliffs Natural Resources by 1.2% in the third quarter. Principal Financial Group Inc. now owns 35,618 shares of the mining company’s stock worth $208,000 after buying an additional 416 shares during the last quarter. IFP Advisors Inc increased its position in shares of Cliffs Natural Resources by 3.4% in the second quarter. IFP Advisors Inc now owns 30,278 shares of the mining company’s stock worth $172,000 after buying an additional 1,000 shares during the last quarter. Montgomery Investment Management Inc. increased its position in shares of Cliffs Natural Resources by 2.0% in the third quarter. Montgomery Investment Management Inc. now owns 51,100 shares of the mining company’s stock worth $298,000 after buying an additional 1,000 shares during the last quarter. Ancora Advisors LLC increased its position in shares of Cliffs Natural Resources by 5.7% in the second quarter. Ancora Advisors LLC now owns 32,860 shares of the mining company’s stock worth $186,000 after buying an additional 1,775 shares during the last quarter. Finally, BlackRock Advisors LLC increased its position in shares of Cliffs Natural Resources by 2.6% in the second quarter. BlackRock Advisors LLC now owns 79,597 shares of the mining company’s stock worth $451,000 after buying an additional 1,999 shares during the last quarter. 57.53% of the stock is owned by hedge funds and other institutional investors.

Cliffs Natural Resources Company Profile

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.

5 Day Chart for NYSE:CLF

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