Axiom Securities restated their sell rating on shares of Cliffs Natural Resources Inc. (NYSE:CLF) in a report published on Saturday morning.

CLF has been the topic of several other reports. Macquarie lowered their price target on shares of Cliffs Natural Resources from $11.00 to $10.00 and set an outperform rating on the stock in a research note on Monday, August 29th. Morgan Stanley restated a sell rating and set a $3.00 price objective on shares of Cliffs Natural Resources in a research note on Wednesday, September 28th. FBR & Co set a $6.00 price objective on shares of Cliffs Natural Resources and gave the stock a hold rating in a research note on Thursday, October 13th. Zacks Investment Research upgraded shares of Cliffs Natural Resources from a hold rating to a buy rating and set a $6.50 price objective on the stock in a research note on Monday, October 3rd. Finally, Credit Suisse Group AG restated an underperform rating and set a $2.00 price objective (down from $5.58) on shares of Cliffs Natural Resources in a research note on Friday, October 7th. Seven analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $5.54.

Analyst Recommendations for Cliffs Natural Resources (NYSE:CLF)

Cliffs Natural Resources (NYSE:CLF) opened at 9.91 on Friday. Cliffs Natural Resources has a 52 week low of $1.20 and a 52 week high of $9.94. The firm’s 50-day moving average is $6.48 and its 200-day moving average is $5.88. The company has a market cap of $2.29 billion, a PE ratio of 50.56 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 consensus estimate of $0.19 by $0.30. The business had revenue of $553 million for the quarter, compared to analysts’ expectations of $597.30 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The company’s revenue was down 6.7% on a year-over-year basis. On average, analysts expect that Cliffs Natural Resources will post $0.77 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This story was first posted by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are reading this story on another site, it was stolen and republished in violation of U.S. & international copyright & trademark laws. The legal version of this story can be read at https://www.thecerbatgem.com/2016/11/26/axiom-securities-reaffirms-sell-rating-for-cliffs-natural-resources-inc-clf.html.

In other news, Director John T. Baldwin purchased 10,000 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was bought at an average price of $5.49 per share, with a total value of $54,900.00. Following the acquisition, the director now owns 68,160 shares in the company, valued at approximately $374,198.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric M. Rychel purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The shares were purchased at an average cost of $5.55 per share, with a total value of $27,750.00. Following the acquisition, the director now owns 11,845 shares in the company, valued at approximately $65,739.75. The disclosure for this purchase can be found here. Insiders own 4.52% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Stifel Financial Corp increased its stake 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 worth $111,000 after buying an additional 3,360 shares during the period. Teacher Retirement System of Texas increased its stake 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 worth $113,000 after buying an additional 3,189 shares during the period. LMR Partners LLP purchased a new stake in shares of Cliffs Natural Resources during the second quarter worth $114,000. IPG Investment Advisors LLC purchased a new stake in shares of Cliffs Natural Resources during the third quarter worth $123,000. Finally, Amalgamated Bank increased its stake in shares of Cliffs Natural Resources by 16.4% in the second quarter. Amalgamated Bank now owns 19,188 shares of the mining company’s stock worth $127,000 after buying an additional 2,710 shares during the period. 53.98% of the stock is owned by 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

Receive News & Stock Ratings for Cliffs Natural Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cliffs Natural Resources Inc. and related stocks with our FREE daily email newsletter.