Jefferies Group LLC started coverage on shares of Cliffs Natural Resources Inc. (NYSE:CLF) in a research report report published on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $9.00 target price on the mining company’s stock.
Other research analysts also recently issued reports about the company. BidaskClub upgraded Cliffs Natural Resources from a sell rating to a hold rating in a research note on Tuesday, June 27th. FBR & Co set a $10.00 price objective on Cliffs Natural Resources and gave the company a buy rating in a research note on Saturday, June 17th. TheStreet downgraded Cliffs Natural Resources from a c rating to a d+ rating in a research note on Thursday, May 4th. Zacks Investment Research downgraded Cliffs Natural Resources from a buy rating to a hold rating in a research note on Tuesday, March 21st. Finally, ValuEngine upgraded Cliffs Natural Resources from a buy rating to a strong-buy rating in a research note on Thursday, May 11th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $8.50.
Shares of Cliffs Natural Resources (NYSE CLF) traded up 4.92% during trading on Friday, reaching $7.04. 9,402,841 shares of the company’s stock were exchanged. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 41.17 and a beta of 1.66. Cliffs Natural Resources has a 12 month low of $4.91 and a 12 month high of $12.37. The stock has a 50-day moving average price of $6.22 and a 200 day moving average price of $8.17. Cliffs Natural Resources also saw some unusual options trading on Monday. Investors purchased 1,191 put options on the company. This represents an increase of 121% compared to the average daily volume of 538 put options.
Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings data on Thursday, April 27th. The mining company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.27. The company had revenue of $461.60 million for the quarter, compared to the consensus estimate of $412.71 million. Cliffs Natural Resources had a net margin of 1.68% and a negative return on equity of 5.79%. The company’s revenue was up 51.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. On average, analysts forecast that Cliffs Natural Resources will post $0.90 EPS for the current year.
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In related news, Chairman Lourenco Goncalves purchased 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average price of $6.31 per share, for a total transaction of $1,262,000.00. Following the acquisition, the chairman now owns 2,855,296 shares of the company’s stock, valued at approximately $18,016,917.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John T. Baldwin purchased 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average price of $6.32 per share, for a total transaction of $37,920.00. Following the acquisition, the director now directly owns 87,991 shares in the company, valued at approximately $556,103.12. The disclosure for this purchase can be found here. Insiders have purchased a total of 215,250 shares of company stock worth $1,361,283 in the last 90 days. 0.46% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in CLF. SFE Investment Counsel bought a new stake in Cliffs Natural Resources during the first quarter valued at $112,000. Quantum Capital Management bought a new stake in Cliffs Natural Resources during the first quarter valued at $113,000. Nuveen Asset Management LLC raised its stake in 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 during the last quarter. Invictus RG bought a new stake in Cliffs Natural Resources during the first quarter valued at $121,000. Finally, 361 Capital LLC bought a new stake in Cliffs Natural Resources during the first quarter valued at $129,000. Institutional investors own 66.73% of the company’s stock.
About Cliffs Natural Resources
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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