Cliffs Natural Resources (NYSE:CLF) has tumbled 4.85% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 68.15% in the last four weeks. The stocks have underperformed the S&P 500 by 3.7% during the past week but Cliffs Natural Resources (NYSE:CLF) it has outperformed the index in 4 weeks by 66.62%.
Cliffs Natural Resources (NYSE:CLF): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.95 and $4.85 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.13. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.91, notching a gain of 2.29% for the day. The total traded volume was 17,123,525 . The stock had closed at $4.80 on the previous day.
The company shares have dropped -2.19% from its 1 Year high price. On Apr 28, 2016, the shares registered one year high at $5.83 and the one year low was seen on Jan 12, 2016. The 50-Day Moving Average price is $4.05 and the 200 Day Moving Average price is recorded at $2.80.
On the companys insider trading activities, Goncalves Lourenco, CEO of Cliffs Natural Resources Inc., had purchased 100,000 shares on May 9, 2016. The total value of the transaction was $304,000. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Macquarie upgrades the rating on Cliffs Natural Resources (NYSE:CLF). The brokerage firm has issued a Outperform rating on the shares. The shares were previously rated Neutral. The rating by the firm was issued on June 10, 2016. Currently the company Insiders own 4.52% of Cliffs Natural Resources shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -73.68% . Institutional Investors own 51.33% of Cliffs Natural Resources shares. During last six month period, the net percent change held by insiders has seen a change of -73.68%.
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.