Notable Mover: What’s Next for Cliffs Natural Resources Inc After Today’s Big Increase?

Notable Mover: What's Next for Cliffs Natural Resources Inc After Today's Big Increase?

The stock of Cliffs Natural Resources Inc (NYSE:CLF) is a huge mover today! About 1.12M shares traded hands. Cliffs Natural Resources Inc (NYSE:CLF) has risen 116.28% since March 9, 2016 and is uptrending. It has outperformed by 108.87% the S&P500.
The move comes after 5 months positive chart setup for the $1.27B company. It was reported on Oct, 12 by Barchart.com. We have $7.11 PT which if reached, will make NYSE:CLF worth $317.50M more.

Analysts await Cliffs Natural Resources Inc (NYSE:CLF) to report earnings on November, 3. They expect $0.19 EPS, up 226.67% or $0.34 from last year’s $-0.15 per share. CLF’s profit will be $42.41 million for 7.49 P/E if the $0.19 EPS becomes a reality. After $0.06 actual EPS reported by Cliffs Natural Resources Inc for the previous quarter, Wall Street now forecasts 216.67% EPS growth.

Cliffs Natural Resources Inc (NYSE:CLF) Ratings Coverage

Out of 9 analysts covering Cliffs Natural Resources Inc (NYSE:CLF), 2 rate it a “Buy”, 3 “Sell”, while 4 “Hold”. This means 22% are positive. Cliffs Natural Resources Inc has been the topic of 16 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm earned “Sell” rating on Thursday, August 27 by Wolfe Research. The stock has “Hold” rating given by Vetr on Monday, August 31. The rating was initiated by Credit Suisse on Friday, March 11 with “Underperform”. The company was maintained on Monday, November 2 by FBR Capital. On Tuesday, May 31 the stock rating was upgraded by JP Morgan to “Overweight”. Axiom Capital initiated Cliffs Natural Resources Inc (NYSE:CLF) on Friday, August 21 with “Sell” rating. The rating was downgraded by Macquarie Research on Friday, January 8 to “Neutral”. As per Friday, April 29, the company rating was maintained by Cowen & Co. On Friday, June 10 the stock rating was upgraded by Macquarie Research to “Outperform”. The rating was maintained by Deutsche Bank on Monday, October 5 with “Hold”.

According to Zacks Investment Research, “CLIFFS NATURAL RESOURCES INC, formerly Cleveland-Cliffs Inc, is an international mining company, a producer of iron ore pellets in North America and a supplier of metallurgical coal to the global steelmaking industry. It operates six iron ore mines in Michigan, Minnesota and Eastern Canada, and three coking coal mines in West Virginia and Alabama. Cliffs also owns 80.4% of Portman, an iron ore mining company in Australia, serving the Asian iron ore markets with direct-shipping fines and lump ore. In addition, it has a 30% interest in the Amapa Project, a Brazilian iron ore project, and a 45% economic interest in the Sonoma Project, an Australian coking and thermal coal project.”

Insitutional Activity: The institutional sentiment decreased to 1.13 in 2016 Q2. Its down 0.15, from 1.28 in 2016Q1. The ratio dived, as 30 funds sold all Cliffs Natural Resources Inc shares owned while 49 reduced positions. 28 funds bought stakes while 61 increased positions. They now own 97.87 million shares or 9.74% more from 89.18 million shares in 2016Q1.
Glenmede Na has invested 0% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF). New York State Common Retirement Fund reported 180,000 shares or 0% of all its holdings. Barnett, a Tennessee-based fund reported 29,218 shares. Quantitative Invest Management Ltd Limited Liability Company holds 0.09% or 323,000 shares in its portfolio. Pnc Finance Group Inc Inc holds 35,105 shares or 0% of its portfolio. Brave Asset Mngmt last reported 0.01% of its portfolio in the stock. Hbk Investments Limited Partnership holds 158,895 shares or 0.01% of its portfolio. Berson & Corrado Invest Advisors Limited Com has 0.04% invested in the company for 10,052 shares. Numeric Ltd Liability has 209,300 shares for 0.01% of their US portfolio. Cambridge Inv Research Advsrs, a Iowa-based fund reported 66,275 shares. Sei Communication holds 0% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF) for 10,412 shares. Phoenix Investment Adviser Limited Liability last reported 1.34% of its portfolio in the stock. Gru Inc holds 101,197 shares or 0% of its portfolio. Metropolitan Life Insurance Ny accumulated 129,331 shares or 0.01% of the stock. Proshare Advsr Ltd Liability Company has invested 0% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF).

Insider Transactions: Since May 4, 2016, the stock had 1 buy, and 1 sale for $27.25 million net activity. 100,000 Cliffs Natural Resources Inc (NYSE:CLF) shares with value of $304,320 were bought by GONCALVES LOURENCO. Another trade for 7.23M shares valued at $27.56M was sold by Taylor Douglas C.

More news for Cliffs Natural Resources Inc (NYSE:CLF) were recently published by: Finance.Yahoo.com, which released: “Zacks.com featured highlights: Insulet, Cliffs Natural Resources, NVIDIA …” on October 04, 2016. Seekingalpha.com‘s article titled: “Cliffs Natural Resources: Not This Dip” and published on September 12, 2016 is yet another important article.

CLF Company Profile

Cliffs Natural Resources Inc., incorporated on February 22, 1985, is a mining and natural resources company. The Firm 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 divisions include U.S. Iron Ore and Asia Pacific Iron Ore. The Firm operates an iron ore mining complex in Western Australia and owns approximately two non-operating iron ore mines in Eastern Canada.

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