B. Riley set a $10.00 price target on Cliffs Natural Resources Inc. (NYSE:CLF) in a research note released on Friday. The firm currently has a buy rating on the mining company’s stock.

Several other equities research analysts have also recently weighed in on CLF. Clarkson Capital restated a neutral rating on shares of Cliffs Natural Resources in a research report on Thursday, July 27th. KeyCorp restated a hold rating on shares of Cliffs Natural Resources in a research report on Tuesday, September 19th. Cowen and Company restated a hold rating on shares of Cliffs Natural Resources in a research report on Thursday, August 3rd. ValuEngine lowered shares of Cliffs Natural Resources from a buy rating to a hold rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of Cliffs Natural Resources from a buy rating to a hold rating in a research note on Tuesday, October 3rd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $8.97.

Shares of Cliffs Natural Resources (NYSE CLF) traded up $0.11 on Friday, reaching $6.13. 6,020,101 shares of the company traded hands, compared to its average volume of 14,500,849. Cliffs Natural Resources has a 12 month low of $5.56 and a 12 month high of $12.37. The company has a market capitalization of $1,780.00, a PE ratio of 6.36 and a beta of 1.58. The company has a debt-to-equity ratio of -2.03, a current ratio of 1.89 and a quick ratio of 1.18.

Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings results on Friday, October 20th. The mining company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.06. Cliffs Natural Resources had a net margin of 5.48% and a negative return on equity of 29.06%. The company had revenue of $698.00 million for the quarter, compared to analysts’ expectations of $669.25 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. Cliffs Natural Resources’s quarterly revenue was up 26.2% on a year-over-year basis. analysts anticipate that Cliffs Natural Resources will post 0.49 earnings per share for the current year.

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In related news, Chairman Lourenco Goncalves bought 100,000 shares of the stock in a transaction dated Friday, September 15th. The stock was purchased at an average cost of $7.11 per share, with a total value of $711,000.00. Following the completion of the purchase, the chairman now owns 3,586,970 shares of the company’s stock, valued at $25,503,356.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Alps Advisors Inc. boosted its stake in shares of Cliffs Natural Resources by 0.3% during the second quarter. Alps Advisors Inc. now owns 52,796 shares of the mining company’s stock valued at $365,000 after purchasing an additional 137 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of 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 valued at $115,000 after purchasing an additional 164 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Cliffs Natural Resources by 3.8% during the second quarter. Teacher Retirement System of Texas now owns 22,601 shares of the mining company’s stock valued at $156,000 after purchasing an additional 824 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Cliffs Natural Resources by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 26,167 shares of the mining company’s stock valued at $181,000 after purchasing an additional 2,016 shares during the period. Finally, Amalgamated Bank lifted its stake in Cliffs Natural Resources by 7.2% in the second quarter. Amalgamated Bank now owns 35,530 shares of the mining company’s stock worth $246,000 after acquiring an additional 2,392 shares during the period. 57.81% of the stock is owned by hedge funds and other institutional investors.

Cliffs Natural Resources Company Profile

Cleveland-Cliffs Inc, formerly 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.

Analyst Recommendations for Cliffs Natural Resources (NYSE:CLF)

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