Cliffs Natural Resources Inc. (NYSE:CLF) was downgraded by equities research analysts at Vetr from a “sell” rating to a “strong sell” rating in a research report issued on Monday. They currently have a $6.42 target price on the mining company’s stock. Vetr‘s target price points to a potential downside of 14.74% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley restated a “sell” rating and issued a $2.00 price target on shares of Cliffs Natural Resources in a research note on Tuesday, August 16th. Credit Suisse Group AG reaffirmed an “underperform” rating and issued a $2.00 price objective (down from $5.58) on shares of Cliffs Natural Resources in a report on Friday, October 7th. FBR & Co upped their price objective on Cliffs Natural Resources from $4.00 to $7.00 and gave the company a “market perform” rating in a report on Tuesday, July 26th. Zacks Investment Research lowered Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, August 29th. Finally, Axiom Securities reaffirmed a “sell” rating on shares of Cliffs Natural Resources in a report on Tuesday, August 30th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $5.54.

Analyst Recommendations for Cliffs Natural Resources (NYSE:CLF)

Cliffs Natural Resources (NYSE:CLF) opened at 7.53 on Monday. Cliffs Natural Resources has a one year low of $1.20 and a one year high of $8.45. The firm’s 50 day moving average price is $5.91 and its 200-day moving average price is $5.63. The company has a market capitalization of $1.74 billion, a PE ratio of 38.42 and a beta of 1.42.

Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings results on Thursday, October 27th. The mining company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.30. The company earned $553 million during the quarter, compared to analyst estimates of $597.30 million. During the same quarter in the previous year, the business posted ($0.10) EPS. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. Equities analysts forecast that Cliffs Natural Resources will post $0.77 earnings per share for the current fiscal year.

In other news, Director Joseph A. Rutkowski bought 6,000 shares of the company’s stock in a transaction on Friday, October 28th. The stock was purchased at an average cost of $5.32 per share, for a total transaction of $31,920.00. Following the completion of the transaction, the director now owns 68,236 shares of the company’s stock, valued at $363,015.52. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eric M. Rychel bought 5,000 shares of the company’s stock in a transaction on Wednesday, November 2nd. The stock was purchased at an average price of $5.55 per share, with a total value of $27,750.00. Following the completion of the transaction, the director now directly owns 11,845 shares of the company’s stock, valued at approximately $65,739.75. The disclosure for this purchase can be found here. Corporate insiders own 4.52% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Cliffs Natural Resources by 15.1% in the first quarter. BlackRock Inc. now owns 35,494 shares of the mining company’s stock valued at $107,000 after buying an additional 4,666 shares in the last quarter. Stifel Financial Corp increased its position in Cliffs Natural Resources by 20.8% in the second quarter. Stifel Financial Corp now owns 19,532 shares of the mining company’s stock valued at $111,000 after buying an additional 3,360 shares in the last quarter. Teacher Retirement System of Texas increased its position in Cliffs Natural Resources by 19.0% in the second quarter. Teacher Retirement System of Texas now owns 19,954 shares of the mining company’s stock valued at $113,000 after buying an additional 3,189 shares in the last quarter. LMR Partners LLP purchased a new position in Cliffs Natural Resources during the second quarter valued at approximately $114,000. Finally, IPG Investment Advisors LLC purchased a new position in Cliffs Natural Resources during the third quarter valued at approximately $123,000. Hedge funds and other institutional investors own 53.18% of the company’s stock.

Cliffs Natural Resources Company Profile

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.

5 Day Chart for NYSE:CLF

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