Cliffs Natural Resources Inc. (NYSE:CLF) shares were down 3.1% during trading on Wednesday . The stock traded as low as $7.56 and last traded at $7.77, with a volume of 11,691,898 shares traded. The stock had previously closed at $8.02.

Several research analysts have commented on CLF shares. Macquarie reaffirmed a “hold” rating on shares of Cliffs Natural Resources in a research note on Saturday, April 9th. FBR & Co reissued a “market perform” rating and set a $4.00 target price (up from $3.00) on shares of Cliffs Natural Resources in a research note on Friday, April 29th. Cowen and Company boosted their target price on shares of Cliffs Natural Resources from $3.00 to $6.00 and gave the company a “market perform” rating in a research note on Friday, April 29th. Zacks Investment Research raised shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a research note on Wednesday, May 4th. Finally, Axiom Securities reissued a “sell” rating on shares of Cliffs Natural Resources in a research note on Monday, May 23rd. Eight investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.13.

The company has a market cap of $1.43 billion and a PE ratio of 15.64. The stock’s 50-day moving average is $6.00 and its 200-day moving average is $3.67.

In related news, Director Douglas C. Taylor sold 7,231,520 shares of the firm’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $3.81, for a total transaction of $27,552,091.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lourenco Goncalves acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The shares were acquired at an average cost of $3.04 per share, with a total value of $304,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,475,044 shares in the company, valued at approximately $7,524,133.76. The disclosure for this purchase can be found here.

A hedge fund recently raised its stake in Cliffs Natural Resources stock. Zweig DiMenna Associates LLC boosted its position in shares of Cliffs Natural Resources Inc. (NYSE:CLF) by 98.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,017,896 shares of the mining company’s stock after buying an additional 505,696 shares during the period. Zweig DiMenna Associates LLC owned 0.66% of Cliffs Natural Resources worth $1,608,000 at the end of the most recent quarter.

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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