Cliffs Natural Resources Inc. (NYSE:CLF) - Analysts at FBR & Co reduced their Q2 2017 earnings estimates for shares of Cliffs Natural Resources in a research note issued to investors on Monday. FBR & Co analyst L. Pipes now forecasts that the mining company will earn $0.22 per share for the quarter, down from their prior estimate of $0.33. FBR & Co has a “Buy” rating and a $10.00 price target on the stock. FBR & Co also issued estimates for Cliffs Natural Resources’ Q3 2017 earnings at $0.36 EPS, Q4 2017 earnings at $0.42 EPS, FY2017 earnings at $0.89 EPS, Q1 2018 earnings at $0.07 EPS, Q2 2018 earnings at $0.28 EPS, FY2018 earnings at $0.87 EPS and FY2019 earnings at $0.74 EPS.
Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings results on Thursday, April 27th. The mining company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.27. The company had revenue of $461.60 million during 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 firm’s revenue was up 51.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 earnings per share. WARNING: This piece of content was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://stocknewstimes.com/2017/07/31/fbr-co-analysts-cut-earnings-estimates-for-cliffs-natural-resources-inc-nyseclf-updated.html.
Several other analysts have also issued reports on the stock. J P Morgan Chase & Co boosted their price target on shares of Cliffs Natural Resources from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, March 27th. Zacks Investment Research raised shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Thursday. Axiom Securities reissued a “sell” rating on shares of Cliffs Natural Resources in a research report on Thursday, July 13th. BidaskClub raised shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Cowen and Company reissued a “market perform” rating and issued a $7.00 price target on shares of Cliffs Natural Resources in a research report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Cliffs Natural Resources has an average rating of “Hold” and an average price target of $8.50.
Cliffs Natural Resources (CLF) opened at 7.54 on Wednesday. Cliffs Natural Resources has a 12-month low of $4.91 and a 12-month high of $12.37. The company has a market capitalization of $2.23 billion, a PE ratio of 44.09 and a beta of 1.66. The firm has a 50-day moving average of $6.58 and a 200 day moving average of $7.97.
In other news, Chairman Lourenco Goncalves bought 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were acquired at an average price of $6.31 per share, with a total value 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John T. Baldwin bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average cost 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 ninety days. 0.46% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. SFE Investment Counsel purchased a new stake in Cliffs Natural Resources during the first quarter worth $112,000. 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 worth $115,000 after buying an additional 164 shares during the period. Invictus RG purchased a new stake in Cliffs Natural Resources during the first quarter worth $121,000. 361 Capital LLC purchased a new stake in Cliffs Natural Resources during the first quarter worth $129,000. Finally, Strs Ohio raised its stake in Cliffs Natural Resources by 103.8% in the first quarter. Strs Ohio now owns 15,900 shares of the mining company’s stock worth $130,000 after buying an additional 8,100 shares during the period. 66.66% of the stock is currently owned by institutional investors and hedge funds.
Cliffs Natural Resources Company Profile
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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