Cliffs Natural Resources Inc. (CLF) Given Hold Rating at KeyCorp
Cliffs Natural Resources Inc. (NYSE:CLF)‘s stock had its “hold” rating reissued by equities research analysts at KeyCorp in a research report issued to clients and investors on Tuesday.
A number of other analysts also recently commented on the company. Zacks Investment Research upgraded Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. FBR & Co restated a “buy” rating and issued a $10.00 target price on shares of Cliffs Natural Resources in a research note on Wednesday, September 6th. Cowen and Company restated a “market perform” rating and issued a $7.00 target price on shares of Cliffs Natural Resources in a research note on Wednesday, June 28th. BidaskClub upgraded Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Axiom Securities reiterated a “sell” rating on shares of Cliffs Natural Resources in a research report on Tuesday, July 25th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $8.31.
Cliffs Natural Resources (NYSE:CLF) traded down 1.49% on Tuesday, hitting $7.25. The stock had a trading volume of 3,089,829 shares. Cliffs Natural Resources has a 52-week low of $4.91 and a 52-week high of $12.37. The company has a 50 day moving average price of $7.66 and a 200-day moving average price of $7.32. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 33.26 and a beta of 1.70. Cliffs Natural Resources also was the recipient of unusually large options trading on Monday. Stock investors bought 1,191 put options on the company. This represents an increase of approximately 121% compared to the average volume of 538 put options.
Cliffs Natural Resources (NYSE:CLF) last issued its earnings results on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. Cliffs Natural Resources had a negative return on equity of 13.83% and a net margin of 2.44%. The firm had revenue of $569.30 million for the quarter, compared to the consensus estimate of $485.93 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The company’s revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts predict that Cliffs Natural Resources will post $0.97 earnings per share for the current year.
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In related news, Chairman Lourenco Goncalves purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average price of $7.11 per share, with a total value of $711,000.00. Following the completion of the acquisition, the chairman now owns 3,586,970 shares in the company, valued at $25,503,356.70. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of CLF. BlackRock Inc. increased its holdings in shares of Cliffs Natural Resources by 23,956.0% in the first quarter. BlackRock Inc. now owns 18,554,188 shares of the mining company’s stock valued at $152,330,000 after purchasing an additional 18,477,059 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Cliffs Natural Resources by 53.3% in the first quarter. Vanguard Group Inc. now owns 25,642,631 shares of the mining company’s stock valued at $210,526,000 after purchasing an additional 8,918,169 shares during the last quarter. Bridgewater Associates LP acquired a new stake in shares of Cliffs Natural Resources in the first quarter valued at approximately $31,595,000. Wellington Management Group LLP increased its holdings in shares of Cliffs Natural Resources by 574.0% in the first quarter. Wellington Management Group LLP now owns 4,366,103 shares of the mining company’s stock valued at $35,846,000 after purchasing an additional 3,718,310 shares during the last quarter. Finally, Balyasny Asset Management LLC increased its holdings in shares of Cliffs Natural Resources by 6,863.0% in the second quarter. Balyasny Asset Management LLC now owns 2,824,243 shares of the mining company’s stock valued at $19,544,000 after purchasing an additional 2,783,682 shares during the last quarter. 58.28% of the stock is owned by hedge funds and other institutional investors.
Cliffs Natural Resources Company Profile
Cleveland-Cliffs Inc, formerly 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.
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