Cliffs Natural Resources Inc. (CLF) Rating Lowered to Sell at BidaskClub
Cliffs Natural Resources Inc. (NYSE:CLF) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.
CLF has been the topic of a number of other reports. FBR & Co raised shares of Cliffs Natural Resources from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $11.00 to $10.00 in a research note on Friday, April 28th. Axiom Securities reissued a “sell” rating on shares of Cliffs Natural Resources in a research note on Thursday, July 13th. Zacks Investment Research downgraded shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. ValuEngine downgraded shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Cowen and Company reissued a “market perform” rating and issued a $7.00 price target on shares of Cliffs Natural Resources in a research note on Wednesday, June 28th. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $8.50.
Shares of Cliffs Natural Resources (NYSE:CLF) traded up 5.39% during trading on Wednesday, hitting $7.62. 5,115,702 shares of the stock were exchanged. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 34.95 and a beta of 1.69. Cliffs Natural Resources has a one year low of $4.91 and a one year high of $12.37. The stock’s 50 day moving average price is $7.30 and its 200-day moving average price is $7.77.
Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. The business had revenue of $569.30 million for the quarter, compared to the consensus estimate of $485.93 million. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. The business’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. On average, analysts predict that Cliffs Natural Resources will post $0.91 EPS for the current year.
In other news, Chairman Lourenco Goncalves acquired 100,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $7.19 per share, with a total value of $719,000.00. Following the transaction, the chairman now owns 3,486,970 shares in the company, valued at approximately $25,071,314.30. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. SFE Investment Counsel purchased a new stake in shares of Cliffs Natural Resources during the first quarter worth approximately $112,000. Nuveen Asset Management LLC increased its stake in shares of Cliffs Natural Resources by 1.2% in the first quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock worth $115,000 after buying an additional 164 shares in the last quarter. Invictus RG purchased a new stake in shares of Cliffs Natural Resources during the first quarter worth approximately $121,000. Comerica Bank increased its stake in shares of Cliffs Natural Resources by 49.5% in the second quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock worth $116,000 after buying an additional 5,129 shares in the last quarter. Finally, 361 Capital LLC purchased a new stake in shares of Cliffs Natural Resources during the first quarter worth approximately $129,000. 65.23% of the stock is currently 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.
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