Cliffs Natural Resources Inc. (NYSE:CLF) rose 3.5% on Wednesday . The stock traded as high as $6.19 and last traded at $5.85. Approximately 8,320,899 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 14,557,983 shares. The stock had previously closed at $6.06.

CLF has been the topic of several research reports. ValuEngine cut shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub cut shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Zacks Investment Research lowered shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Axiom Securities reaffirmed a “sell” rating on shares of Cliffs Natural Resources in a research note on Tuesday, July 25th. Finally, TheStreet raised shares of Cliffs Natural Resources from a “d+” rating to a “c” rating in a research note on Monday, July 31st. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $8.97.

The company has a debt-to-equity ratio of -2.03, a quick ratio of 1.18 and a current ratio of 1.89. The firm has a market cap of $1,820.00, a price-to-earnings ratio of 6.70 and a beta of 1.58.

Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings data on Friday, October 20th. The mining company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.06. Cliffs Natural Resources had a net margin of 5.48% and a negative return on equity of 29.06%. The firm had revenue of $698.00 million for the quarter, compared to the consensus estimate of $669.25 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. sell-side analysts forecast that Cliffs Natural Resources Inc. will post 0.49 earnings per share for the current year.

In other Cliffs Natural Resources news, Chairman Lourenco Goncalves purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were bought at an average price of $7.11 per share, for a total transaction of $711,000.00. Following the acquisition, the chairman now owns 3,586,970 shares in the company, valued at $25,503,356.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CLF. BlackRock Inc. grew its stake in shares of Cliffs Natural Resources by 23,956.0% during the 1st quarter. BlackRock Inc. now owns 18,554,188 shares of the mining company’s stock worth $152,330,000 after purchasing an additional 18,477,059 shares during the period. Vanguard Group Inc. grew its stake in shares of Cliffs Natural Resources by 24.7% during the 2nd quarter. Vanguard Group Inc. now owns 31,963,836 shares of the mining company’s stock worth $221,190,000 after purchasing an additional 6,321,205 shares during the period. Balyasny Asset Management LLC grew its stake in shares of Cliffs Natural Resources by 6,863.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 2,824,243 shares of the mining company’s stock worth $19,544,000 after purchasing an additional 2,783,682 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Cliffs Natural Resources by 93.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,241,713 shares of the mining company’s stock worth $43,034,000 after purchasing an additional 2,535,927 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Cliffs Natural Resources by 16.8% during the 2nd quarter. Northern Trust Corp now owns 4,977,719 shares of the mining company’s stock worth $34,446,000 after purchasing an additional 717,021 shares during the period. 57.81% of the stock is currently owned by institutional investors and hedge funds.

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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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