Shares of Cliffs Natural Resources Inc. (NYSE:CLF) gapped up prior to trading on Monday . The stock had previously closed at $7.90, but opened at $7.57. Cliffs Natural Resources shares last traded at $7.27, with a volume of 10,130,122 shares traded.

Several brokerages have recently commented on CLF. Clarkson Capital reaffirmed a “neutral” rating on shares of Cliffs Natural Resources in a research report on Thursday, July 27th. Cowen and Company set a $7.00 target price on Cliffs Natural Resources and gave the stock a “hold” rating in a research report on Tuesday. KeyCorp reaffirmed a “hold” rating on shares of Cliffs Natural Resources in a research report on Tuesday, September 19th. Zacks Investment Research cut Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, ValuEngine cut Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $9.29.

The stock has a 50 day moving average of $7.47 and a 200 day moving average of $7.07. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 32.94 and a beta of 1.65.

Cliffs Natural Resources (NYSE:CLF) last announced its earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.08. The firm had revenue of $569.30 million during the quarter, compared to analyst estimates of $485.93 million. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 EPS. Equities research analysts predict that Cliffs Natural Resources Inc. will post $0.88 EPS for the current year.

In related news, Chairman Lourenco Goncalves bought 100,000 shares of Cliffs Natural Resources stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average cost of $7.11 per share, with a total value of $711,000.00. Following the purchase, the chairman now owns 3,586,970 shares in the company, valued at $25,503,356.70. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of CLF. Great West Life Assurance Co. Can boosted its stake in shares of Cliffs Natural Resources by 58.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 28,957 shares of the mining company’s stock worth $237,000 after buying an additional 10,677 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Cliffs Natural Resources during the 1st quarter worth about $172,000. Sei Investments Co. boosted its stake in shares of Cliffs Natural Resources by 28.8% during the 1st quarter. Sei Investments Co. now owns 17,819 shares of the mining company’s stock worth $146,000 after buying an additional 3,980 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Cliffs Natural Resources during the 1st quarter worth about $285,000. Finally, Prudential Financial Inc. boosted its stake in shares of Cliffs Natural Resources by 19.1% during the 1st quarter. Prudential Financial Inc. now owns 28,132 shares of the mining company’s stock worth $231,000 after buying an additional 4,510 shares during the last quarter. Institutional investors own 58.28% of the company’s stock.

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About Cliffs Natural Resources

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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