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Cliffs Natural Resources (NYSE:CLF) Price Target up at $10.00
[/vc_column_text][vc_raw_html]JTNDY2VudGVyJTNFJTBBJTNDc2NyaXB0JTIwYXN5bmMlMjBzcmMlM0QlMjIlMkYlMkZwYWdlYWQyLmdvb2dsZXN5bmRpY2F0aW9uLmNvbSUyRnBhZ2VhZCUyRmpzJTJGYWRzYnlnb29nbGUuanMlMjIlM0UlM0MlMkZzY3JpcHQlM0UlMEElM0MlMjEtLSUyMFZpZGVvJTIwLS0lM0UlMEElM0NpbnMlMjBjbGFzcyUzRCUyMmFkc2J5Z29vZ2xlJTIyJTBBJTIwJTIwJTIwJTIwJTIwc3R5bGUlM0QlMjJkaXNwbGF5JTNBYmxvY2slMjIlMEElMjAlMjAlMjAlMjAlMjBkYXRhLWFkLWNsaWVudCUzRCUyMmNhLXB1Yi01ODY2ODM4ODkzNzQ4OTU0JTIyJTBBJTIwJTIwJTIwJTIwJTIwZGF0YS1hZC1zbG90JTNEJTIyOTc2MDM3ODE3NCUyMiUwQSUyMCUyMCUyMCUyMCUyMGRhdGEtYWQtZm9ybWF0JTNEJTIyYXV0byUyMiUzRSUzQyUyRmlucyUzRSUwQSUzQ3NjcmlwdCUzRSUwQSUyOGFkc2J5Z29vZ2xlJTIwJTNEJTIwd2luZG93LmFkc2J5Z29vZ2xlJTIwJTdDJTdDJTIwJTVCJTVEJTI5LnB1c2glMjglN0IlN0QlMjklM0IlMEElM0MlMkZzY3JpcHQlM0UlMEElM0MlMkZjZW50ZXIlM0U=[/vc_raw_html][vc_column_text]B. Riley set a $10.00 price objective on Cliffs Natural Resources (NYSE:CLF) in a research note issued to investors on Friday, November 17th. The brokerage currently has a buy rating on the mining company’s stock.
Several other research analysts have also recently issued reports on CLF. Zacks Investment Research raised shares of Cliffs Natural Resources from a sell rating to a hold rating in a report on Thursday, July 20th. BidaskClub cut shares of Cliffs Natural Resources from a buy rating to a hold rating in a report on Tuesday, July 25th. Axiom Securities reissued a sell rating on shares of Cliffs Natural Resources in a report on Tuesday, July 25th. ValuEngine cut shares of Cliffs Natural Resources from a buy rating to a hold rating in a report on Thursday, July 27th. Finally, Clarkson Capital reaffirmed a neutral rating on shares of Cliffs Natural Resources in a report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $8.97.
Shares of Cliffs Natural Resources (NYSE CLF) opened at $6.82 on Friday. Cliffs Natural Resources has a 1-year low of $5.56 and a 1-year high of $12.37. The company has a quick ratio of 1.18, a current ratio of 1.89 and a debt-to-equity ratio of -2.03. The company has a market cap of $2,022.20, a PE ratio of 7.41 and a beta of 1.59.
Cliffs Natural Resources (NYSE:CLF) last announced its earnings results on Friday, October 20th. The mining company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. The business had revenue of $698.00 million during the quarter, compared to analysts’ expectations of $669.25 million. Cliffs Natural Resources had a net margin of 5.48% and a negative return on equity of 29.06%. The business’s revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.11) earnings per share. sell-side analysts anticipate that Cliffs Natural Resources will post 0.49 EPS for the current fiscal year.
In other Cliffs Natural Resources news, Chairman Lourenco Goncalves purchased 100,000 shares of the stock in a transaction dated Friday, September 15th. The shares were acquired at an average cost of $7.11 per share, for a total transaction of $711,000.00. Following the completion of the transaction, the chairman now directly owns 3,586,970 shares of the company’s stock, valued at $25,503,356.70. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.46% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC boosted its position in Cliffs Natural Resources by 1.2% during the first quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock worth $115,000 after acquiring an additional 164 shares during the last quarter. Comerica Bank boosted its position in Cliffs Natural Resources by 49.5% during the second quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock worth $116,000 after acquiring an additional 5,129 shares during the last quarter. ARP Americas LLC boosted its position in Cliffs Natural Resources by 72.5% during the second quarter. ARP Americas LLC now owns 17,600 shares of the mining company’s stock worth $122,000 after acquiring an additional 7,400 shares during the last quarter. D.A. Davidson & CO. boosted its position in Cliffs Natural Resources by 486.8% during the second quarter. D.A. Davidson & CO. now owns 18,597 shares of the mining company’s stock worth $128,000 after acquiring an additional 15,428 shares during the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in Cliffs Natural Resources during the second quarter worth approximately $128,000. Hedge funds and other institutional investors own 56.76% of the company’s stock.
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