Cliffs Natural Resources Inc. (CLF) Given a $10.00 Price Target at B. Riley

Cliffs Natural Resources Inc. (NYSE:CLF) has been assigned a $10.00 price objective by investment analysts at B. Riley in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the mining company’s stock. B. Riley’s target price points to a potential upside of 66.11% from the stock’s previous close.

Several other research analysts have also weighed in on CLF. Zacks Investment Research upgraded shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. BidaskClub lowered shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Axiom Securities reiterated a “sell” rating on shares of Cliffs Natural Resources in a report on Tuesday, July 25th. ValuEngine downgraded shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Clarkson Capital reissued a “neutral” rating on shares of Cliffs Natural Resources in a research report on Thursday, July 27th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $8.97.

Cliffs Natural Resources (CLF) opened at $6.02 on Friday. The firm has a market cap of $1,826.50, a PE ratio of 6.70 and a beta of 1.58. Cliffs Natural Resources has a 1-year low of $5.56 and a 1-year high of $12.37. The company has a current ratio of 1.89, a quick ratio of 1.18 and a debt-to-equity ratio of -2.03.

Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings data on Friday, October 20th. The mining company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.06. The business had revenue of $698.00 million for the quarter, compared to analyst estimates of $669.25 million. Cliffs Natural Resources had a net margin of 5.48% and a negative return on equity of 29.06%. The company’s revenue was up 26.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.11) EPS. research analysts anticipate that Cliffs Natural Resources will post 0.49 earnings per share for the current year.

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In other news, Chairman Lourenco Goncalves acquired 100,000 shares of the stock in a transaction on Friday, September 15th. The stock was bought at an average price of $7.11 per share, with a total value of $711,000.00. Following the completion of the transaction, the chairman now directly owns 3,586,970 shares of the company’s stock, valued at $25,503,356.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Cliffs Natural Resources by 24.7% during the second quarter. Vanguard Group Inc. now owns 31,963,836 shares of the mining company’s stock worth $221,190,000 after buying an additional 6,321,205 shares in the last quarter. BlackRock Inc. grew its position in shares of Cliffs Natural Resources by 1.6% during the second quarter. BlackRock Inc. now owns 18,860,269 shares of the mining company’s stock worth $130,512,000 after buying an additional 306,081 shares in the last quarter. State Street Corp grew its position in shares of Cliffs Natural Resources by 6.5% during the second quarter. State Street Corp now owns 10,720,937 shares of the mining company’s stock worth $74,189,000 after buying an additional 653,261 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Cliffs Natural Resources by 20.1% during the second quarter. Dimensional Fund Advisors LP now owns 6,297,769 shares of the mining company’s stock worth $43,581,000 after buying an additional 1,056,056 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Cliffs Natural Resources by 16.8% during the second quarter. Northern Trust Corp now owns 4,977,719 shares of the mining company’s stock worth $34,446,000 after buying an additional 717,021 shares in the last quarter. 57.81% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Cliffs Natural Resources (NYSE:CLF)

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