Today, Cliffs Natural Resources’ (CLF) “Sell” Rating Reiterate at Axiom Securities

Today, Cliffs Natural Resources’ (CLF) “Sell” Rating Reiterate at Axiom Securities
Cliffs Natural Resources Inc. (NYSE:CLF)‘s stock had its “sell” rating reiterated by stock analysts at Axiom Securities in a report released on Saturday.

Several other research firms have also weighed in on CLF. Zacks Investment Research lowered shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, October 17th. FBR & Co restated a “hold” rating on shares of Cliffs Natural Resources in a research report on Thursday, November 3rd. Morgan Stanley restated a “sell” rating and set a $3.00 price target on shares of Cliffs Natural Resources in a research report on Wednesday, September 28th. Credit Suisse Group AG restated an “underperform” rating and set a $2.00 price target (down previously from $5.58) on shares of Cliffs Natural Resources in a research report on Friday, October 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Cliffs Natural Resources from $10.50 to $10.00 and set an “overweight” rating for the company in a research report on Friday, July 29th. Seven research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $5.54.

Cliffs Natural Resources (NYSE:CLF) opened at 9.91 on Friday. The firm’s 50-day moving average is $6.48 and its 200-day moving average is $5.88. Cliffs Natural Resources has a 12 month low of $1.20 and a 12 month high of $9.94. The firm has a market cap of $2.29 billion, a PE ratio of 50.56 and a beta of 1.42.

Cliffs Natural Resources (NYSE:CLF) last released its earnings results on Thursday, October 27th. The mining company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.19 by $0.30. The business had revenue of $553 million for the quarter, compared to analysts’ expectations of $597.30 million. During the same period last year, the firm posted ($0.10) EPS. Cliffs Natural Resources’s revenue was down 6.7% compared to the same quarter last year. Equities analysts expect that Cliffs Natural Resources will post $0.77 earnings per share for the current year.

In other Cliffs Natural Resources news, Director John T. Baldwin bought 10,000 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were bought at an average price of $5.49 per share, for a total transaction of $54,900.00. Following the acquisition, the director now directly owns 68,160 shares of the company’s stock, valued at $374,198.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph A. Rutkowski bought 6,000 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was acquired at an average price of $5.32 per share, for a total transaction of $31,920.00. Following the acquisition, the director now directly owns 68,236 shares in the company, valued at $363,015.52. The disclosure for this purchase can be found here. 4.52% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of CLF. Stifel Financial Corp increased its position in Cliffs Natural Resources by 20.8% in the second quarter. Stifel Financial Corp now owns 19,532 shares of the mining company’s stock worth $111,000 after buying an additional 3,360 shares in the last quarter. Teacher Retirement System of Texas increased its position in Cliffs Natural Resources by 19.0% in the second quarter. Teacher Retirement System of Texas now owns 19,954 shares of the mining company’s stock worth $113,000 after buying an additional 3,189 shares in the last quarter. LMR Partners LLP purchased a new position in Cliffs Natural Resources during the second quarter worth approximately $114,000. IPG Investment Advisors LLC purchased a new position in Cliffs Natural Resources during the third quarter worth approximately $123,000. Finally, Amalgamated Bank increased its position in Cliffs Natural Resources by 16.4% in the second quarter. Amalgamated Bank now owns 19,188 shares of the mining company’s stock worth $127,000 after buying an additional 2,710 shares in the last quarter. Institutional investors own 53.98% of the company’s stock.

Cliffs Natural Resources Company Profile

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