ValuEngine Lowers Cliffs Natural Resources Inc. (CLF) to Buy
ValuEngine downgraded shares of Cliffs Natural Resources Inc. (NYSE:CLF) from a strong-buy rating to a buy rating in a report released on Friday.
Several other equities research analysts also recently issued reports on CLF. Clarkson Capital restated a neutral rating on shares of Cliffs Natural Resources in a research report on Thursday, July 27th. FBR & Co set a $10.00 price objective on shares of Cliffs Natural Resources and gave the stock a buy rating in a research report on Saturday, June 17th. Cowen and Company restated a hold rating on shares of Cliffs Natural Resources in a research report on Thursday, August 3rd. BidaskClub downgraded shares of Cliffs Natural Resources from a hold rating to a sell rating in a research report on Wednesday, August 16th. Finally, Axiom Securities restated a sell rating on shares of Cliffs Natural Resources in a research report on Monday, July 31st. Five analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Cliffs Natural Resources has an average rating of Hold and a consensus price target of $8.31.
Cliffs Natural Resources (CLF) opened at 8.48 on Friday. The firm has a market cap of $2.51 billion, a PE ratio of 38.90 and a beta of 1.70. Cliffs Natural Resources has a 52-week low of $4.91 and a 52-week high of $12.37. The company’s 50 day moving average price is $7.57 and its 200 day moving average price is $7.62. Cliffs Natural Resources also was the recipient of unusually large options trading activity on Monday. Stock investors purchased 1,191 put options on the stock. This represents an increase of 121% compared to the typical volume of 538 put options.
Cliffs Natural Resources (NYSE:CLF) last issued its quarterly earnings data on Thursday, July 27th. The mining company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The firm had revenue of $569.30 million during 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 for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the business posted $0.07 earnings per share. Analysts predict that Cliffs Natural Resources will post $0.94 earnings per share for the current fiscal year.
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In other Cliffs Natural Resources news, Chairman Lourenco Goncalves purchased 100,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was bought at an average cost of $7.19 per share, for a total transaction of $719,000.00. Following the completion of the transaction, the chairman now owns 3,486,970 shares in the company, valued at $25,071,314.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its position 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 valued at $115,000 after buying an additional 164 shares in the last quarter. Invictus RG acquired a new stake in shares of Cliffs Natural Resources in the first quarter valued at approximately $121,000. Comerica Bank raised its position 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 valued at $116,000 after buying an additional 5,129 shares in the last quarter. 361 Capital LLC acquired a new stake in shares of Cliffs Natural Resources in the first quarter valued at approximately $129,000. Finally, Strs Ohio raised its position in shares of Cliffs Natural Resources by 103.8% in the first quarter. Strs Ohio now owns 15,900 shares of the mining company’s stock valued at $130,000 after buying an additional 8,100 shares in the last quarter. Institutional investors own 58.30% of the company’s stock.
Cliffs Natural Resources Company Profile
Cleveland-Cliffs Inc, formerly 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.
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