Cliffs Natural Resources Inc (CLF) Receives $8.54 Consensus PT from Analysts

Shares of Cliffs Natural Resources Inc (NYSE:CLF) have been given an average recommendation of “Hold” by the eleven brokerages that are presently covering the firm. Three investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.97.

Several research analysts recently commented on CLF shares. Zacks Investment Research raised Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Tuesday, January 17th. FBR & Co reissued a “market perform” rating and set a $10.00 price target on shares of Cliffs Natural Resources in a research report on Monday, February 6th. Credit Suisse Group AG reissued an “underperform” rating and set a $6.00 price target on shares of Cliffs Natural Resources in a research report on Friday, January 13th. Vetr raised Cliffs Natural Resources from a “strong sell” rating to a “hold” rating and set a $10.76 price target for the company in a research report on Monday, December 12th. Finally, Axiom Securities reissued a “sell” rating on shares of Cliffs Natural Resources in a research report on Thursday, March 16th.

Shares of Cliffs Natural Resources (NYSE:CLF) opened at 8.26 on Thursday. The stock’s 50 day moving average price is $9.99 and its 200-day moving average price is $8.19. Cliffs Natural Resources has a 52-week low of $2.62 and a 52-week high of $12.37. The company has a market capitalization of $1.93 billion, a PE ratio of 9.48 and a beta of 1.63.

Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings data on Thursday, February 9th. The mining company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.19. The company earned $754 million during the quarter, compared to analysts’ expectations of $662.09 million. Cliffs Natural Resources had a negative return on equity of 6.02% and a net margin of 8.26%. Cliffs Natural Resources’s revenue for the quarter was up 58.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.39) earnings per share. On average, analysts expect that Cliffs Natural Resources will post $1.44 earnings per share for the current year.

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Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. boosted its stake in Cliffs Natural Resources by 21.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,759,634 shares of the mining company’s stock worth $33,694,000 after buying an additional 1,008,723 shares during the last quarter. BlackRock Fund Advisors boosted its stake 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 worth $33,480,000 after buying an additional 1,500,604 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Cliffs Natural Resources by 17.2% in the third quarter. Neuberger Berman Group LLC now owns 3,105,563 shares of the mining company’s stock worth $18,168,000 after buying an additional 456,561 shares during the last quarter. California Public Employees Retirement System boosted its stake in Cliffs Natural Resources by 14.1% in the third quarter. California Public Employees Retirement System now owns 2,741,600 shares of the mining company’s stock worth $16,038,000 after buying an additional 339,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Cliffs Natural Resources by 91.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,705,786 shares of the mining company’s stock worth $22,756,000 after buying an additional 1,289,050 shares during the last quarter. 58.73% of the stock is owned by institutional investors.

About Cliffs Natural Resources

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. The Company is a producer of iron ore pellets, primarily selling production from U.S.

5 Day Chart for NYSE:CLF

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