Today, Cliffs Natural Resources Inc. (CLF) Given Sell Rating at Axiom Securities

Today, Cliffs Natural Resources Inc. (CLF) Given Sell Rating at Axiom Securities

Axiom Securities restated their sell rating on shares of Cliffs Natural Resources Inc. (NYSE:CLF) in a report released on Saturday.

A number of other analysts also recently issued reports on CLF. Zacks Investment Research raised Cliffs Natural Resources from a hold rating to a buy rating and set a $8.75 price objective for the company in a research report on Monday, August 1st. Vetr downgraded Cliffs Natural Resources from a strong-buy rating to a buy rating and set a $6.42 price objective for the company. in a research report on Monday, November 7th. FBR & Co set a $6.00 price objective on Cliffs Natural Resources and gave the stock a hold rating in a research report on Thursday, October 13th. TheStreet raised Cliffs Natural Resources from a sell rating to a hold rating in a research report on Monday, August 1st. Finally, Cowen and Company raised their price objective on Cliffs Natural Resources from $6.00 to $9.00 and gave the stock a market perform rating in a research report on Wednesday, August 3rd. Seven equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $5.54.

Shares of Cliffs Natural Resources (NYSE:CLF) opened at 9.91 on Friday. Cliffs Natural Resources has a 1-year low of $1.20 and a 1-year high of $9.94. The company has a 50-day moving average of $6.48 and a 200-day moving average of $5.88. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 50.56 and a beta of 1.42.

Cliffs Natural Resources (NYSE:CLF) last issued its earnings results on Thursday, October 27th. The mining company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by $0.30. The business earned $553 million during the quarter, compared to analyst estimates of $597.30 million. During the same period in the previous year, the business earned ($0.10) earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. On average, equities research analysts expect that Cliffs Natural Resources will post $0.77 EPS for the current fiscal year.

In other Cliffs Natural Resources news, Director Eric M. Rychel bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was purchased at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the purchase, the director now directly owns 11,845 shares in the company, valued at $65,739.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John T. Baldwin bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The shares were acquired at an average price of $5.49 per share, with a total value of $54,900.00. Following the purchase, the director now owns 68,160 shares of the company’s stock, valued at $374,198.40. The disclosure for this purchase can be found here. Corporate insiders own 4.52% of the company’s stock.

A number of large investors have recently bought and sold shares of CLF. State Street Corp boosted its stake in Cliffs Natural Resources by 43.5% in the first quarter. State Street Corp now owns 11,587,242 shares of the mining company’s stock valued at $34,763,000 after buying an additional 3,514,416 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Cliffs Natural Resources by 186.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,220,732 shares of the mining company’s stock valued at $23,932,000 after buying an additional 2,746,729 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new position in Cliffs Natural Resources during the third quarter valued at approximately $13,535,000. HBK Investments L P raised its position in Cliffs Natural Resources by 1,058.4% in the third quarter. HBK Investments L P now owns 1,840,700 shares of the mining company’s stock valued at $10,768,000 after buying an additional 1,681,805 shares during the period. Finally, BlackRock Fund Advisors raised its position in Cliffs Natural Resources by 35.5% in the third quarter. BlackRock Fund Advisors now owns 5,723,151 shares of the mining company’s stock valued at $33,480,000 after buying an additional 1,500,604 shares during the period. Hedge funds and other institutional investors own 53.98% of the company’s stock.

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