An issue of Cliffs Natural Resources Inc. (NYSE:CLF) bonds rose 3.3% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 6.25% coupon and is set to mature on October 1, 2040. The debt is now trading at $78.00 and was trading at $76.00 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

CLF has been the topic of a number of research reports. Zacks Investment Research lowered shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 17th. FBR & Co reissued a “hold” rating on shares of Cliffs Natural Resources in a report on Thursday, November 3rd. Morgan Stanley reissued a “sell” rating and issued a $3.00 price target on shares of Cliffs Natural Resources in a report on Wednesday, September 28th. Axiom Securities reissued a “sell” rating on shares of Cliffs Natural Resources in a report on Tuesday, August 30th. Finally, Credit Suisse Group AG reissued an “underperform” rating and issued a $2.00 price target (down previously from $5.58) on shares of Cliffs Natural Resources in a report on Friday, October 7th. Seven 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 company’s stock. The stock has a consensus rating of “Hold” and an average target price of $5.54.

Cliffs Natural Resources Inc. (NYSE:CLF) opened at 7.41 on Friday. The company’s 50-day moving average is $5.91 and its 200 day moving average is $5.63. Cliffs Natural Resources Inc. has a 12 month low of $1.20 and a 12 month high of $8.45. The firm has a market cap of $1.71 billion, a P/E ratio of 37.81 and a beta of 1.42.

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

In other Cliffs Natural Resources news, Director Joseph A. Rutkowski purchased 6,000 shares of the company’s stock in a transaction on Friday, October 28th. The shares were purchased at an average cost of $5.32 per share, with a total value of $31,920.00. Following the completion of the purchase, the director now owns 68,236 shares in the company, valued at $363,015.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John T. Baldwin purchased 10,000 shares of the company’s stock in a transaction on Monday, October 31st. The stock was acquired at an average cost of $5.49 per share, for a total transaction of $54,900.00. Following the completion of the purchase, the director now owns 68,160 shares of the company’s stock, valued at approximately $374,198.40. The disclosure for this purchase can be found here. 4.52% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of 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 during the period. Stifel Financial Corp raised its position in shares of 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 during the period. Teacher Retirement System of Texas raised its position in shares of 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 during the period. LMR Partners LLP acquired a new position in shares of Cliffs Natural Resources during the second quarter valued at about $114,000. Finally, IPG Investment Advisors LLC acquired a new position in shares of Cliffs Natural Resources during the third quarter valued at about $123,000. 53.18% of the stock is currently owned by hedge funds and other institutional investors.

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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