Cliffs Natural Resources Inc. (NYSE:CLF) was upgraded by Vetr from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday. The brokerage currently has a $9.01 target price on the mining company’s stock. Vetr‘s price objective would suggest a potential upside of 2.27% from the company’s previous close.

Several other analysts have also commented on CLF. Zacks Investment Research raised Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a report on Monday, August 1st. TheStreet raised Cliffs Natural Resources from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Cowen and Company raised their target price on Cliffs Natural Resources from $6.00 to $9.00 and gave the stock a “market perform” rating in a report on Wednesday, August 3rd. Morgan Stanley reaffirmed a “sell” rating and set a $2.00 target price on shares of Cliffs Natural Resources in a report on Tuesday, August 16th. Finally, Macquarie dropped their target price on Cliffs Natural Resources from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Monday, August 29th. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Cliffs Natural Resources presently has a consensus rating of “Hold” and an average price target of $5.80.

Analyst Recommendations for Cliffs Natural Resources (NYSE:CLF)

Cliffs Natural Resources (NYSE:CLF) opened at 8.81 on Tuesday. Cliffs Natural Resources has a 12-month low of $1.20 and a 12-month high of $10.14. The stock has a market capitalization of $2.03 billion, a PE ratio of 44.95 and a beta of 1.42. The company has a 50-day moving average price of $6.77 and a 200-day moving average price of $6.03.

Cliffs Natural Resources (NYSE:CLF) last posted its earnings results on Thursday, October 27th. The mining company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.19 by $0.30. The company earned $553 million during the quarter, compared to analysts’ expectations of $597.30 million. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) earnings per share. Analysts expect that Cliffs Natural Resources will post $0.77 earnings per share for the current fiscal year.

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In related news, Director Eric M. Rychel acquired 5,000 shares of Cliffs Natural Resources stock in a transaction that occurred on Wednesday, November 2nd. The shares were purchased at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the transaction, the director now owns 11,845 shares in the company, valued at approximately $65,739.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph A. Rutkowski acquired 6,000 shares of Cliffs Natural Resources stock in a transaction that occurred on Friday, October 28th. The shares were bought at an average price of $5.32 per share, for a total transaction of $31,920.00. Following the transaction, the director now owns 68,236 shares of the company’s stock, valued at approximately $363,015.52. The disclosure for this purchase can be found here. 4.52% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Cliffs Natural Resources by 5.5% in the second quarter. Vanguard Group Inc. now owns 11,916,859 shares of the mining company’s stock worth $67,569,000 after buying an additional 623,576 shares during the last quarter. State Street Corp increased its position in shares of Cliffs Natural Resources by 43.5% in the first quarter. State Street Corp now owns 11,587,242 shares of the mining company’s stock worth $34,763,000 after buying an additional 3,514,416 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Cliffs Natural Resources by 21.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,759,634 shares of the mining company’s stock worth $33,694,000 after buying an additional 1,008,723 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Cliffs Natural Resources by 35.5% in the third quarter. BlackRock Fund Advisors now owns 5,723,151 shares of the mining company’s stock worth $33,480,000 after buying an additional 1,500,604 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Cliffs Natural Resources by 186.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,220,732 shares of the mining company’s stock worth $23,932,000 after buying an additional 2,746,729 shares during the last quarter. Hedge funds and other institutional investors own 57.53% of the company’s stock.

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.

5 Day Chart for NYSE:CLF

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