Cliffs Natural Resources Inc. (NYSE:CLF) was upgraded by equities researchers at Morgan Stanley from an “underweight” rating to an “equal” rating in a report issued on Monday.

Several other equities analysts also recently issued reports on CLF. Credit Suisse Group AG set a $2.00 price target on shares of Cliffs Natural Resources and gave the company a “sell” rating in a report on Saturday, October 8th. Vetr downgraded shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating and set a $6.42 price target for the company. in a report on Monday, November 7th. Zacks Investment Research cut shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Clarkson Capital upgraded shares of Cliffs Natural Resources from a “sell” rating to a “neutral” rating in a research report on Monday, July 18th. Finally, TheStreet upgraded shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Cliffs Natural Resources presently has a consensus rating of “Hold” and an average target price of $5.54.

Analyst Recommendations for Cliffs Natural Resources (NYSE:CLF)

Cliffs Natural Resources (NYSE:CLF) opened at 7.53 on Monday. The company has a market capitalization of $1.74 billion, a PE ratio of 38.42 and a beta of 1.42. The stock has a 50 day moving average of $5.91 and a 200 day moving average of $5.63. Cliffs Natural Resources has a 12-month low of $1.20 and a 12-month high of $8.45.

Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings results on Thursday, October 27th. The mining company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.30. The company had revenue of $553 million for the quarter, compared to analysts’ expectations of $597.30 million. During the same period in the prior year, the company earned ($0.10) earnings per share. The firm’s revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts predict that Cliffs Natural Resources will post $0.77 EPS for the current year.

In related news, Director John T. Baldwin purchased 10,000 shares of the business’s stock in a transaction on Monday, October 31st. The shares were purchased at an average price of $5.49 per share, with a total value of $54,900.00. Following the completion of the purchase, the director now owns 68,160 shares in the company, valued at approximately $374,198.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric M. Rychel purchased 5,000 shares of the business’s stock in a transaction on Wednesday, November 2nd. The stock was bought at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the purchase, the director now 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 hedge funds and other institutional investors have recently made changes to their positions in CLF. Renaissance Technologies LLC raised its position in shares of Cliffs Natural Resources by 52.8% in the first quarter. Renaissance Technologies LLC now owns 10,432,099 shares of the mining company’s stock worth $31,296,000 after buying an additional 3,605,299 shares during the last quarter. State Street Corp raised its position in shares of Cliffs Natural Resources by 43.5% in the first quarter. State Street Corp now owns 11,587,242 shares of the mining company’s stock worth $34,763,000 after buying an additional 3,514,416 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Cliffs Natural Resources by 186.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,220,732 shares of the mining company’s stock worth $23,932,000 after buying an additional 2,746,729 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in shares of Cliffs Natural Resources during the third quarter worth $13,535,000. Finally, HBK Investments L P raised its position in shares of Cliffs Natural Resources by 1,058.4% in the third quarter. HBK Investments L P now owns 1,840,700 shares of the mining company’s stock worth $10,768,000 after buying an additional 1,681,805 shares during the last quarter. 53.18% of the stock is currently owned by hedge funds and other institutional investors.

About Cliffs Natural Resources

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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