Cliffs Natural Resources Inc (CLF) was Upgraded by Macquarie to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 7.50 from a previous price target of $4 . Earlier the firm had a rating of “Neutral ” on the company shares. Macquarie advised their investors in a research report released on Jun 10, 2016.
Many Wall Street Analysts have commented on Cliffs Natural Resources Inc. Cliffs Natural Resources Inc was Upgraded by JP Morgan to ” Overweight” on May 31, 2016. 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 .
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 -0.31 points or -5.73% at $5.1 with 1,92,77,684 shares getting traded on Thursday. Post opening the session at $5.27, the shares hit an intraday low of $4.96 and an intraday high of $5.32 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.