Wall Street analysts predict that Cliffs Natural Resources Inc. (NYSE:CLF) will announce sales of $654.98 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cliffs Natural Resources’ earnings, with the lowest sales estimate coming in at $594.00 million and the highest estimate coming in at $677.70 million. Cliffs Natural Resources posted sales of $553.30 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.4%. The firm is scheduled to report its next earnings results before the market opens on Friday, October 20th.

On average, analysts expect that Cliffs Natural Resources will report full year sales of $654.98 million for the current fiscal year, with estimates ranging from $2.22 billion to $2.48 billion. For the next financial year, analysts expect that the firm will report sales of $2.34 billion per share, with estimates ranging from $2.03 billion to $2.55 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Cliffs Natural Resources.

Cliffs Natural Resources (NYSE:CLF) last released its earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.08. The company had revenue of $569.30 million for the quarter, compared to the consensus estimate of $485.93 million. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. Cliffs Natural Resources’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 EPS.

CLF has been the topic of a number of research reports. BidaskClub upgraded shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Clarkson Capital restated a “neutral” rating on shares of Cliffs Natural Resources in a research report on Thursday, July 27th. Cowen and Company set a $7.00 target price on shares of Cliffs Natural Resources and gave the stock a “hold” rating in a research report on Tuesday. ValuEngine lowered shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research upgraded shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Cliffs Natural Resources has a consensus rating of “Hold” and a consensus target price of $9.29.

Cliffs Natural Resources (NYSE CLF) traded down 0.97% during mid-day trading on Thursday, reaching $7.18. 7,054,668 shares of the company’s stock traded hands. Cliffs Natural Resources has a 52 week low of $4.91 and a 52 week high of $12.37. The stock has a market capitalization of $2.13 billion, a PE ratio of 32.94 and a beta of 1.65. The stock’s 50 day moving average is $7.47 and its 200-day moving average is $7.07.

In other news, Chairman Lourenco Goncalves acquired 100,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were purchased at an average cost of $7.11 per share, for a total transaction of $711,000.00. Following the transaction, the chairman now directly owns 3,586,970 shares in the company, valued at approximately $25,503,356.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Alps Advisors Inc. grew its position in Cliffs Natural Resources by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 52,796 shares of the mining company’s stock valued at $365,000 after buying an additional 137 shares during the last quarter. Nuveen Asset Management LLC grew its position in Cliffs Natural Resources by 1.2% in the 1st quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock valued at $115,000 after buying an additional 164 shares during the last quarter. Teacher Retirement System of Texas grew its position in Cliffs Natural Resources by 3.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 22,601 shares of the mining company’s stock valued at $156,000 after buying an additional 824 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Cliffs Natural Resources by 8.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 26,167 shares of the mining company’s stock valued at $181,000 after buying an additional 2,016 shares during the last quarter. Finally, Amalgamated Bank grew its position in Cliffs Natural Resources by 7.2% in the 2nd quarter. Amalgamated Bank now owns 35,530 shares of the mining company’s stock valued at $246,000 after buying an additional 2,392 shares during the last quarter. Hedge funds and other institutional investors own 58.28% of the company’s stock.

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About Cliffs Natural Resources

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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Earnings History and Estimates for Cliffs Natural Resources (NYSE:CLF)

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