Cliffs Natural Resources Inc. (NYSE:CLF) – Research analysts at KeyCorp boosted their Q4 2016 EPS estimates for Cliffs Natural Resources in a report released on Wednesday. KeyCorp analyst P. Gibbs now expects that the firm will earn $0.30 per share for the quarter, up from their prior forecast of $0.26. KeyCorp also issued estimates for Cliffs Natural Resources’ FY2017 earnings at $0.78 EPS.

Cliffs Natural Resources (NYSE:CLF) last posted its 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 business had revenue of $553 million for the quarter, compared to analysts’ expectations of $597.30 million. The business’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.10) earnings per share.

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

A number of other brokerages have also recently commented on CLF. Zacks Investment Research cut shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, October 17th. FBR & Co restated a “hold” rating on shares of Cliffs Natural Resources in a research note on Thursday, November 3rd. Morgan Stanley restated a “sell” rating and set a $3.00 price target on shares of Cliffs Natural Resources in a research note on Wednesday, September 28th. Axiom Securities restated a “sell” rating on shares of Cliffs Natural Resources in a research note on Tuesday, August 30th. Finally, Credit Suisse Group AG restated an “underperform” rating and set a $2.00 price target (down from $5.58) on shares of Cliffs Natural Resources in a research note on Friday, October 7th. Seven investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $5.54.

Shares of Cliffs Natural Resources (NYSE:CLF) opened at 7.41 on Monday. Cliffs Natural Resources has a 1-year low of $1.20 and a 1-year high of $8.45. The firm’s 50 day moving average is $5.91 and its 200-day moving average is $5.63. The company has a market cap of $1.71 billion, a PE ratio of 37.81 and a beta of 1.42.

A number of large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of Cliffs Natural Resources during the third quarter worth about $502,000. Credit Suisse AG raised its stake in shares of Cliffs Natural Resources by 11.1% in the third quarter. Credit Suisse AG now owns 652,840 shares of the mining company’s stock worth $3,819,000 after buying an additional 65,059 shares during the period. Eaton Vance Management raised its stake in shares of Cliffs Natural Resources by 1.2% in the third quarter. Eaton Vance Management now owns 1,108,595 shares of the mining company’s stock worth $6,485,000 after buying an additional 13,581 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Cliffs Natural Resources by 8,596.6% in the third quarter. Panagora Asset Management Inc. now owns 330,470 shares of the mining company’s stock worth $1,933,000 after buying an additional 326,670 shares during the period. Finally, National Asset Management Inc. raised its stake in shares of Cliffs Natural Resources by 55.6% in the third quarter. National Asset Management Inc. now owns 23,520 shares of the mining company’s stock worth $138,000 after buying an additional 8,400 shares during the period. 53.98% of the stock is currently owned by institutional investors and hedge funds.

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