The Cliffs Natural Resources Inc. (CLF) Rating Reiterated by Credit Suisse Group AG

The Cliffs Natural Resources Inc. (CLF) Rating Reiterated by Credit Suisse Group AG

Credit Suisse Group AG reaffirmed their underperform rating on shares of Cliffs Natural Resources Inc. (NYSE:CLF) in a research report sent to investors on Friday morning. Credit Suisse Group AG currently has a $2.00 price objective on the mining company’s stock, down from their previous price objective of $5.58.

Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Cliffs Natural Resources from a hold rating to a buy rating and set a $6.50 price target for the company in a research report on Monday, October 3rd. Morgan Stanley reiterated a sell rating and set a $3.00 price target on shares of Cliffs Natural Resources in a research report on Wednesday, September 28th. Axiom Securities reiterated a sell rating on shares of Cliffs Natural Resources in a research report on Tuesday, August 30th. Macquarie dropped their price target on Cliffs Natural Resources from $11.00 to $10.00 and set an outperform rating for the company in a research report on Monday, August 29th. Finally, Cowen and Company boosted their price objective on Cliffs Natural Resources from $6.00 to $9.00 and gave the stock a market perform rating in a research note on Wednesday, August 3rd. Seven research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $4.87.

Shares of Cliffs Natural Resources (NYSE:CLF) opened at 5.73 on Friday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 28.51 and a beta of 1.75. The firm has a 50-day moving average price of $5.79 and a 200-day moving average price of $5.27. Cliffs Natural Resources has a 1-year low of $1.20 and a 1-year high of $8.45.

Cliffs Natural Resources (NYSE:CLF) last issued its quarterly earnings results on Thursday, July 28th. The mining company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.00 by $0.07. The firm had revenue of $496 million for the quarter, compared to analysts’ expectations of $482.37 million. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts forecast that Cliffs Natural Resources will post $1.09 EPS for the current year.

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Cliffs Natural Resources by 5.5% in the second quarter. Vanguard Group Inc. now owns 11,916,859 shares of the mining company’s stock valued at $67,569,000 after buying an additional 623,576 shares in the last quarter. State Street Corp increased its stake in shares of 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 period. Renaissance Technologies LLC increased its stake in shares of Cliffs Natural Resources by 52.8% in the first quarter. Renaissance Technologies LLC now owns 10,432,099 shares of the mining company’s stock valued at $31,296,000 after buying an additional 3,605,299 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Cliffs Natural Resources by 10.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,750,911 shares of the mining company’s stock valued at $26,938,000 after buying an additional 466,304 shares during the period. Finally, BlackRock Fund Advisors increased its stake in shares of Cliffs Natural Resources by 0.7% in the second quarter. BlackRock Fund Advisors now owns 4,222,547 shares of the mining company’s stock valued at $23,942,000 after buying an additional 29,274 shares during the period. Hedge funds and other institutional investors own 50.66% of the company’s stock.

Cliffs Natural Resources Company Profile

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