Cliffs Natural Resources Inc (CLF) was Upgraded by JP Morgan to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. JP Morgan advised their investors in a research report released on May 31, 2016.
Many Wall Street Analysts have commented on Cliffs Natural Resources Inc. Company shares were Reiterated by FBR Capital on May 4, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 4 from a previous price target of $3 .Company shares were Reiterated by Cowen on Apr 29, 2016 to “Market Perform”, Firm has raised the Price Target to $ 6 from a previous price target of $3 .Cliffs Natural Resources Inc was Initiated by Credit Suisse to “Underperform” on Mar 11, 2016.
On the company’s financial health, Cliffs Natural Resources Inc reported $0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.91 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.29. The company had revenue of $306.00 million for the quarter, compared to analysts expectations of $271.80 million. The company’s revenue was down -31.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.02 EPS.
Cliffs Natural Resources Inc closed down -0.25 points or -7.53% at $3.07 with 97,31,929 shares getting traded on Friday. Post opening the session at $3.35, the shares hit an intraday low of $3.06 and an intraday high of $3.38 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on May 9, 2016, Lourenco Goncalves (CEO) purchased 100,000 shares at $3.04 per share price. According to the SEC, on May 6, 2016, Douglas C Taylor (director) sold 7,231,520 shares at $4.01 per share price. On Feb 25, 2016, Michael D Siegal (director) purchased 2,263 shares at $0.00 per share price, according to the Form-4 filing with the securities and exchange commission.
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 also produces low-volatile metallurgical coal in the United States from its mines located in Alabama and West Virginia. In addition it operates an iron ore mining complex in Western Australia and owns two non-operating iron ore mines in Eastern Canada. The Company operates in segments: U.S. Iron Ore Asia Pacific Iron Ore and North American Coal. In the United States it operates five iron ore mines in Michigan and Minnesota and two metallurgical coal operations located in Alabama and West Virginia. Its Asia Pacific operations consist of its Koolyanobbing iron ore mining complex in Western Australia.