ValuEngine lowered shares of Cliffs Natural Resources Inc. (NYSE:CLF) from a buy rating to a hold rating in a research note issued to investors on Thursday.

A number of other research analysts also recently issued reports on the stock. Axiom Securities reiterated a sell rating on shares of Cliffs Natural Resources in a research note on Tuesday, July 25th. BidaskClub downgraded shares of Cliffs Natural Resources from a buy rating to a hold rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of Cliffs Natural Resources from a sell rating to a hold rating in a research note on Thursday, July 20th. Jefferies Group LLC began coverage on shares of Cliffs Natural Resources in a research note on Friday, July 7th. They issued a buy rating and a $9.00 price target for the company. Finally, Cowen and Company reiterated a market perform rating and issued a $7.00 price target on shares of Cliffs Natural Resources in a research note on Wednesday, June 28th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $8.50.

Shares of Cliffs Natural Resources (CLF) opened at 7.10 on Thursday. The stock has a market cap of $2.10 billion, a PE ratio of 32.57 and a beta of 1.66. The company’s 50-day moving average is $6.86 and its 200-day moving average is $7.93. Cliffs Natural Resources has a 52-week low of $4.91 and a 52-week high of $12.37.

Cliffs Natural Resources (NYSE:CLF) last issued its quarterly earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. The company had revenue of $569.30 million during the quarter, compared to the consensus estimate of $485.93 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts anticipate that Cliffs Natural Resources will post $0.94 EPS for the current year.

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In related news, Director John T. Baldwin acquired 6,000 shares of Cliffs Natural Resources stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average price of $6.32 per share, for a total transaction of $37,920.00. Following the transaction, the director now owns 87,991 shares of the company’s stock, valued at $556,103.12. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Lourenco Goncalves acquired 200,000 shares of Cliffs Natural Resources stock in a transaction dated Wednesday, May 3rd. The shares were bought at an average price of $6.31 per share, with a total value of $1,262,000.00. Following the transaction, the chairman now directly owns 2,855,296 shares in the company, valued at approximately $18,016,917.76. The disclosure for this purchase can be found here. Insiders have bought a total of 209,750 shares of company stock valued at $1,324,708 in the last 90 days. Insiders own 0.46% of the company’s stock.

Several hedge funds have recently modified their holdings of CLF. Vanguard Group Inc. increased its stake in Cliffs Natural Resources by 53.3% in the first quarter. Vanguard Group Inc. now owns 25,642,631 shares of the mining company’s stock valued at $210,526,000 after buying an additional 8,918,169 shares during the period. BlackRock Inc. increased its stake in Cliffs Natural Resources by 23,956.0% in the first quarter. BlackRock Inc. now owns 18,554,188 shares of the mining company’s stock valued at $152,330,000 after buying an additional 18,477,059 shares during the period. State Street Corp increased its stake in Cliffs Natural Resources by 25.7% in the first quarter. State Street Corp now owns 10,067,676 shares of the mining company’s stock valued at $82,654,000 after buying an additional 2,059,034 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new stake in Cliffs Natural Resources during the first quarter valued at approximately $45,125,000. Finally, Dimensional Fund Advisors LP increased its stake in Cliffs Natural Resources by 93.7% in the first quarter. Dimensional Fund Advisors LP now owns 5,241,713 shares of the mining company’s stock valued at $43,034,000 after buying an additional 2,535,927 shares during the period. Institutional investors and hedge funds own 66.64% of the company’s stock.

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.

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Analyst Recommendations for Cliffs Natural Resources (NYSE:CLF)

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