Cowen and Company reiterated their hold rating on shares of Cliffs Natural Resources Inc. (NYSE:CLF) in a research note released on Thursday morning.
Several other brokerages also recently commented on CLF. Axiom Securities reaffirmed a sell rating on shares of Cliffs Natural Resources in a report on Tuesday, July 25th. Zacks Investment Research raised shares of Cliffs Natural Resources from a sell rating to a hold rating in a report on Thursday, July 20th. ValuEngine downgraded shares of Cliffs Natural Resources from a buy rating to a hold rating in a report on Thursday, July 27th. BidaskClub downgraded shares of Cliffs Natural Resources from a buy rating to a hold rating in a report on Tuesday, July 25th. Finally, Clarkson Capital reaffirmed a neutral rating on shares of Cliffs Natural Resources in a report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $8.50.
Shares of Cliffs Natural Resources (NYSE CLF) opened at 7.65 on Thursday. The company has a market capitalization of $2.27 billion, a PE ratio of 35.09 and a beta of 1.69. The firm’s 50-day moving average is $6.94 and its 200-day moving average is $7.88. Cliffs Natural Resources has a 12-month low of $4.91 and a 12-month high of $12.37.
Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings data on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.08. The company had revenue of $569.30 million for 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%. Cliffs Natural Resources’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. On average, equities research analysts anticipate that Cliffs Natural Resources will post $0.91 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in Cliffs Natural Resources during the fourth quarter worth about $442,000. Dimensional Fund Advisors LP boosted its position in Cliffs Natural Resources by 91.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,705,786 shares of the mining company’s stock worth $22,756,000 after buying an additional 1,289,050 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in Cliffs Natural Resources by 3.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 230,451 shares of the mining company’s stock worth $1,939,000 after buying an additional 7,715 shares in the last quarter. Alpha Windward LLC bought a new position in Cliffs Natural Resources during the first quarter worth about $341,000. Finally, SFE Investment Counsel bought a new position in Cliffs Natural Resources during the first quarter worth about $112,000. Institutional investors and hedge funds own 66.47% 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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