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Cliffs Natural Resources Inc. (CLF) Receives Consensus Rating of “Hold” from Brokerages

Cliffs Natural Resources Inc. (NYSE:CLF) has been given a consensus rating of “Hold” by the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $8.63.

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CLF has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Axiom Securities restated a “sell” rating on shares of Cliffs Natural Resources in a research note on Monday, July 31st. Jefferies Group LLC initiated coverage on shares of Cliffs Natural Resources in a research note on Friday, July 7th. They set a “buy” rating and a $9.00 target price on the stock. TheStreet upgraded shares of Cliffs Natural Resources from a “d+” rating to a “c” rating in a research note on Monday, July 31st. Finally, ValuEngine cut shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd.

Shares of Cliffs Natural Resources (CLF) opened at 7.13 on Friday. Cliffs Natural Resources has a 12-month low of $4.91 and a 12-month high of $12.37. The company’s 50-day moving average is $7.65 and its 200-day moving average is $7.39. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 32.71 and a beta of 1.70.

Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings data on Thursday, July 27th. The mining company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. The company had revenue of $569.30 million for the quarter, compared to the consensus estimate of $485.93 million. During the same quarter last year, the firm posted $0.07 earnings per share. The firm’s revenue was up 14.7% compared to the same quarter last year. Equities research analysts predict that Cliffs Natural Resources will post $0.97 earnings per share for the current year.

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In related news, Chairman Lourenco Goncalves acquired 100,000 shares of Cliffs Natural Resources stock in a transaction dated Thursday, August 10th. The shares were purchased at an average price of $7.19 per share, for a total transaction of $719,000.00. Following the completion of the transaction, the chairman now directly owns 3,486,970 shares in the company, valued at approximately $25,071,314.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. increased its position in Cliffs Natural Resources by 0.3% in the second quarter. Alps Advisors Inc. now owns 52,796 shares of the mining company’s stock worth $365,000 after purchasing an additional 137 shares during the last quarter. Nuveen Asset Management LLC increased its position 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 purchasing an additional 164 shares during the last quarter. Teacher Retirement System of Texas increased its position in Cliffs Natural Resources by 3.8% in the second quarter. Teacher Retirement System of Texas now owns 22,601 shares of the mining company’s stock worth $156,000 after purchasing an additional 824 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Cliffs Natural Resources by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 26,167 shares of the mining company’s stock worth $181,000 after purchasing an additional 2,016 shares during the last quarter. Finally, Amalgamated Bank increased its position in Cliffs Natural Resources by 7.2% in the second quarter. Amalgamated Bank now owns 35,530 shares of the mining company’s stock worth $246,000 after purchasing an additional 2,392 shares during the last quarter. Institutional investors own 58.30% of the company’s stock.

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.