Cliffs Natural Resources Inc. (CLF) Receives $8.96 Average Price Target from Brokerages
Cliffs Natural Resources Inc. (NYSE:CLF) has been assigned an average recommendation of “Hold” from the fourteen brokerages that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $8.96.
A number of research analysts have recently weighed in on CLF shares. KeyCorp restated a “hold” rating on shares of Cliffs Natural Resources in a report on Friday, November 24th. BidaskClub downgraded shares of Cliffs Natural Resources from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Zacks Investment Research downgraded shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Cowen set a $7.00 price target on shares of Cliffs Natural Resources and gave the company a “hold” rating in a report on Tuesday, October 17th. Finally, J P Morgan Chase & Co lowered shares of Cliffs Natural Resources from an “overweight” rating to a “neutral” rating and raised their target price for the company from $6.90 to $10.00 in a research note on Monday, October 23rd.
Cliffs Natural Resources (NYSE:CLF) traded down $0.07 during trading on Friday, hitting $6.75. 8,889,924 shares of the stock were exchanged, compared to its average volume of 14,251,663. The company has a market cap of $2,000.00, a P/E ratio of 7.41 and a beta of 1.59. The company has a quick ratio of 1.18, a current ratio of 1.89 and a debt-to-equity ratio of -2.03. Cliffs Natural Resources has a fifty-two week low of $5.56 and a fifty-two week high of $12.37.
Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings results on Friday, October 20th. The mining company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. The business had revenue of $698.00 million for the quarter, compared to the consensus estimate of $669.25 million. Cliffs Natural Resources had a net margin of 5.48% and a negative return on equity of 29.06%. Cliffs Natural Resources’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) EPS. equities research analysts anticipate that Cliffs Natural Resources will post 0.49 EPS for the current year.
In other news, Chairman Lourenco Goncalves bought 100,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of $7.11 per share, for a total transaction of $711,000.00. Following the purchase, the chairman now owns 3,586,970 shares of the company’s stock, valued at approximately $25,503,356.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.46% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Teachers Advisors LLC grew its position in Cliffs Natural Resources by 39.0% in the 1st quarter. Teachers Advisors LLC now owns 533,339 shares of the mining company’s stock worth $4,379,000 after purchasing an additional 149,563 shares during the last quarter. Nuveen Asset Management LLC grew its position in Cliffs Natural Resources by 1.2% in the 1st quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock worth $115,000 after purchasing an additional 164 shares during the last quarter. Aperio Group LLC grew its position in Cliffs Natural Resources by 94.7% in the 2nd quarter. Aperio Group LLC now owns 40,721 shares of the mining company’s stock worth $282,000 after purchasing an additional 19,810 shares during the last quarter. ING Groep NV acquired a new stake in Cliffs Natural Resources in the 2nd quarter worth $152,000. Finally, Sei Investments Co. grew its position in Cliffs Natural Resources by 25.0% in the 2nd quarter. Sei Investments Co. now owns 22,277 shares of the mining company’s stock worth $153,000 after purchasing an additional 4,458 shares during the last quarter. Institutional investors and hedge funds own 56.76% 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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