Cliffs Natural Resources Inc (CLF) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.03. The company posted revenue of $496.00 million in the period, compared to analysts expectations of $446.80 million. The company’s revenue was down -.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.28 EPS.
Many Wall Street Analysts have commented on Cliffs Natural Resources Inc. Company shares were Reiterated by FBR Capital on Jul 26, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 7 from a previous price target of $4 .Company shares were Upgraded by Macquarie on Jun 10, 2016 to ” Outperform”, Firm has raised the Price Target to $ 7.50 from a previous price target of $4 .Cliffs Natural Resources Inc was Upgraded by JP Morgan to ” Overweight” on May 31, 2016.
Cliffs Natural Resources Inc opened for trading at $8.36 and hit $8.45 on the upside on Thursday, eventually ending the session at $8.09, with a gain of 3.06% or 0.24 points. The heightened volatility saw the trading volume jump to 1,94,98,758 shares. Company has a market cap of $1,472 M.
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.