Price Action Don’t Lie: What’s in Cliffs Natural Resources Inc After Today’s Huge Increase?

Price Action Don't Lie: What's in Cliffs Natural Resources Inc After Today's Huge Increase?

The stock of Cliffs Natural Resources Inc (NYSE:CLF) is a huge mover today! About 16.79 million shares traded hands or 42.89% up from the average. Cliffs Natural Resources Inc (NYSE:CLF) has risen 70.59% since April 20, 2016 and is uptrending. It has outperformed by 66.03% the S&P500.
The move comes after 9 months positive chart setup for the $2.01 billion company. It was reported on Nov, 22 by Barchart.com. We have $9.07 PT which if reached, will make NYSE:CLF worth $120.60M more.

Cliffs Natural Resources Inc (NYSE:CLF) Ratings Coverage

Out of 10 analysts covering Cliffs Natural Resources Inc (NYSE:CLF), 2 rate it a “Buy”, 3 “Sell”, while 5 “Hold”. This means 20% are positive. Cliffs Natural Resources Inc has been the topic of 18 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating by Axiom Capital given on Friday, August 21. Credit Suisse initiated the stock with “Underperform” rating in Friday, March 11 report. The stock of Cliffs Natural Resources Inc (NYSE:CLF) earned “Neutral” rating by Clarkson Platou on Monday, July 18. Macquarie Research upgraded Cliffs Natural Resources Inc (NYSE:CLF) on Friday, June 10 to “Outperform” rating. The rating was initiated by Wolfe Research with “Sell” on Thursday, August 27. JP Morgan upgraded the stock to “Overweight” rating in Tuesday, May 31 report. The firm earned “Market Perform” rating on Friday, April 29 by Cowen & Co. The stock has “Hold” rating given by Deutsche Bank on Monday, October 5. The stock has “Mkt Perform” rating given by FBR Capital on Friday, September 18. The company was downgraded on Friday, January 8 by Macquarie Research.

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 increased to 1.79 in 2016 Q2. Its up 0.66, from 1.13 in 2016Q1. The ratio is positive, 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.
Nuveen Asset Mngmt Ltd last reported 11,649 shares in the company. The Connecticut-based Hartford Financial Mgmt has invested 0.02% in Cliffs Natural Resources Inc (NYSE:CLF). Cubist Systematic Strategies Ltd Liability Com holds 37,166 shares or 0.01% of its portfolio. Blackrock Institutional Tru Na has 0% invested in the company for 4.75M shares. The Ontario – Canada-based Fincl Bank Of Montreal Can has invested 0% in Cliffs Natural Resources Inc (NYSE:CLF). Amp Capital Invsts Limited reported 46,800 shares or 0% of all its holdings. Teacher Retirement Sys Of Texas last reported 19,954 shares in the company. California Public Employees Retirement System owns 2.40 million shares or 0.02% of their US portfolio. Paloma Prns Communications has invested 0.01% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF). Da Davidson, a Montana-based fund reported 3,015 shares. The Ohio-based Fifth Third Financial Bank has invested 0% in Cliffs Natural Resources Inc (NYSE:CLF). Hudock Grp Ltd Limited Liability Company has 0.03% invested in the company for 8,948 shares. Eam Lc, a California-based fund reported 636,476 shares. First Manhattan has 800 shares for 0% of their US portfolio. State Treasurer State Of Michigan holds 0.01% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF) for 227,400 shares.

Insider Transactions: Since October 28, 2016, the stock had 6 insider purchases, and 0 sales for $215,102 net activity. $54,900 worth of shares were bought by BALDWIN JOHN T on Monday, October 31. Another trade for 1,770 shares valued at $10,001 was made by GREEN SUSAN MIRANDA on Tuesday, November 1. 12,500 shares were bought by Taylor Douglas C, worth $67,918 on Friday, October 28. Fisher Robert P Jr had bought 4,000 shares worth $22,638 on Thursday, November 3. $27,750 worth of shares were bought by Rychel Eric M on Wednesday, November 2. Another trade for 6,000 shares valued at $31,895 was made by RUTKOWSKI JOSEPH A on Friday, October 28.

More recent Cliffs Natural Resources Inc (NYSE:CLF) news were published by: Prnewswire.com which released: “Cliffs Natural Resources Inc. Appoints Eric Rychel to Board of Directors” on October 27, 2016. Also Nasdaq.com published the news titled: “Earnings Reaction History: Cliffs Natural Resources Inc., 20.0% Follow-Through …” on October 27, 2016. Seekingalpha.com‘s news article titled: “Cliffs Natural Resources: Don’t Get Disappointed” with publication date: November 01, 2016 was also an interesting one.

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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment