Trade Report: Today, Cliffs Natural Resources Inc. (CLF) Rating Reiterate by Axiom Securities

Today, Cliffs Natural Resources Inc. (CLF) Rating Reiterate by Axiom Securities

Cliffs Natural Resources Inc. (NYSE:CLF)‘s stock had its “sell” rating reiterated by equities researchers at Axiom Securities in a report issued on Saturday.

Other analysts also recently issued reports about the company. Credit Suisse Group AG set a $2.00 price objective on Cliffs Natural Resources and gave the stock a “sell” rating in a report on Saturday, October 8th. Cowen and Company upped their price objective on Cliffs Natural Resources from $6.00 to $9.00 and gave the stock a “market perform” rating in a report on Wednesday, August 3rd. TheStreet upgraded Cliffs Natural Resources from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Morgan Stanley restated a “sell” rating and set a $2.00 price objective on shares of Cliffs Natural Resources in a report on Tuesday, August 16th. Finally, Zacks Investment Research downgraded Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, August 29th. Seven analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $5.54.

Shares of Cliffs Natural Resources (NYSE:CLF) opened at 9.91 on Friday. Cliffs Natural Resources has a one year low of $1.20 and a one year high of $9.94. The stock has a market capitalization of $2.29 billion, a P/E ratio of 50.56 and a beta of 1.42. The firm’s 50-day moving average price is $6.48 and its 200-day moving average price is $5.88.

Cliffs Natural Resources (NYSE:CLF) last issued its quarterly earnings results on Thursday, October 27th. The mining company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.30. The business earned $553 million during the quarter, compared to the consensus estimate of $597.30 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts anticipate 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 stock in a transaction dated Wednesday, November 2nd. The stock was bought at an average cost 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 of the company’s stock, valued at $65,739.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph A. Rutkowski bought 6,000 shares of the stock in a transaction dated Friday, October 28th. The shares were acquired at an average price of $5.32 per share, with a total value of $31,920.00. Following the completion of the purchase, the director now directly owns 68,236 shares of the company’s stock, valued at $363,015.52. The disclosure for this purchase can be found here. Insiders own 4.52% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. EAM Investors LLC acquired a new stake in shares of Cliffs Natural Resources during the second quarter valued at $3,609,000. Emerald Acquisition Ltd. acquired a new stake in shares of Cliffs Natural Resources during the second quarter valued at $1,296,000. Swiss National Bank increased its stake in shares of Cliffs Natural Resources by 15.9% in the second quarter. Swiss National Bank now owns 274,900 shares of the mining company’s stock valued at $1,559,000 after buying an additional 37,700 shares in the last quarter. State Treasurer State of Michigan boosted its position in shares of Cliffs Natural Resources by 280.3% in the second quarter. State Treasurer State of Michigan now owns 227,400 shares of the mining company’s stock valued at $1,289,000 after buying an additional 167,600 shares during the last quarter. Finally, Quantitative Investment Management LLC bought a new position in shares of Cliffs Natural Resources during the second quarter valued at approximately $1,831,000. Institutional investors own 53.98% of the company’s stock.

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