Cliffs Natural Resources Inc. (NYSE:CLF) shares saw unusually-high trading volume on Wednesday . Approximately 13,599,254 shares were traded during trading, an increase of 24% from the previous session’s volume of 10,989,296 shares.The stock last traded at $7.08 and had previously closed at $7.70.

CLF has been the subject of a number of recent research reports. FBR & Co restated a “market perform” rating and set a $4.00 price objective (up from $3.00) on shares of Cliffs Natural Resources in a research note on Friday, April 29th. Cowen and Company increased their price objective on shares of Cliffs Natural Resources from $3.00 to $6.00 and gave the stock a “market perform” rating in a research note on Friday, April 29th. Zacks Investment Research upgraded shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research note on Wednesday, May 4th. Axiom Securities restated a “sell” rating on shares of Cliffs Natural Resources in a research note on Monday, May 23rd. Finally, JPMorgan Chase & Co. upgraded shares of Cliffs Natural Resources from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $3.07 to $7.00 in a research note on Tuesday, May 31st. Eight equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Cliffs Natural Resources currently has an average rating of “Hold” and an average target price of $5.57.

The company has a 50-day moving average of $6.82 and a 200 day moving average of $4.12. The firm has a market cap of $1.30 billion and a P/E ratio of 35.17.

Cliffs Natural Resources (NYSE:CLF) last posted its earnings results on Thursday, July 28th. The mining company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.00 by $0.07. The business had revenue of $496 million for the quarter, compared to the consensus estimate of $482.37 million. The company’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.28) earnings per share. Equities analysts predict that Cliffs Natural Resources Inc. will post $1.13 EPS for the current fiscal year.

An institutional investor recently raised its position in Cliffs Natural Resources stock. Zweig DiMenna Associates LLC raised its stake in Cliffs Natural Resources Inc. (NYSE:CLF) by 98.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 about 0.66% of Cliffs Natural Resources worth $1,608,000 as of its most recent SEC filing.

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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