Cliffs Natural Resources Inc. (CLF) Shares Down 3.7%
Cliffs Natural Resources Inc. (NYSE:CLF)’s share price traded down 3.7% during mid-day trading on Tuesday . The company traded as low as $7.75 and last traded at $7.77, with a volume of 7,163,417 shares changing hands. The stock had previously closed at $8.07.
A number of equities analysts have issued reports on the company. Cowen and Company reaffirmed a “hold” rating on shares of Cliffs Natural Resources in a research note on Saturday, April 30th. Macquarie raised Cliffs Natural Resources from a “neutral” rating to an “outperform” rating and increased their price target for the company from $4.00 to $7.50 in a research note on Friday, June 10th. FBR & Co increased their price target on Cliffs Natural Resources from $3.00 to $4.00 and gave the company a “mkt perform” rating in a research note on Thursday, May 5th. TheStreet raised Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $10.50 price target (up from $7.00) on shares of Cliffs Natural Resources in a research note on Tuesday, July 12th. Eight research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $5.57.
The stock has a market capitalization of $1.42 billion and a price-to-earnings ratio of 38.31. The stock has a 50 day moving average of $6.76 and a 200 day moving average of $4.10.
Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings results on Thursday, July 28th. The mining company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.00 by $0.07. The firm had revenue of $496 million for the quarter, compared to analyst estimates of $482.37 million. The business’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.28) EPS. Equities research analysts predict that Cliffs Natural Resources Inc. will post $1.13 EPS for the current year.
An institutional investor recently raised its position in Cliffs Natural Resources stock. California Public Employees Retirement System boosted its stake in Cliffs Natural Resources Inc. (NYSE:CLF) by 25.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,129,000 shares of the mining company’s stock after buying an additional 431,700 shares during the period. California Public Employees Retirement System owned 1.39% of Cliffs Natural Resources worth $3,364,000 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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