The stock of Cliffs Natural Resources Inc (NYSE:CLF) hit a new 52-week high and has $9.68 target or 8.00% above today’s $8.96 share price. The 9 months bullish chart indicates low risk for the $2.37B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $9.68 price target is reached, the company will be worth $189.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 13.20M shares traded hands or 6.71% up from the average. Cliffs Natural Resources Inc (NYSE:CLF) has risen 100.93% since April 21, 2016 and is uptrending. It has outperformed by 95.60% the S&P500.
Analysts await Cliffs Natural Resources Inc (NYSE:CLF) to report earnings on January, 25. They expect $0.20 earnings per share, up 242.86% or $0.34 from last year’s $-0.14 per share. CLF’s profit will be $52.90 million for 11.20 P/E if the $0.20 EPS becomes a reality. After $-0.02 actual earnings per share reported by Cliffs Natural Resources Inc for the previous quarter, Wall Street now forecasts -1,100.00% EPS growth.
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 “Hold” rating by Deutsche Bank given on Monday, October 5. The stock of Cliffs Natural Resources Inc (NYSE:CLF) earned “Mkt Perform” rating by FBR Capital on Monday, November 2. The firm earned “Sell” rating on Friday, August 21 by Axiom Capital. On Monday, August 29 the stock rating was maintained by Macquarie Research with “Outperform”. The rating was maintained by FBR Capital with “Mkt Perform” on Thursday, October 13. On Friday, January 8 the stock rating was downgraded by Macquarie Research to “Neutral”. Clarkson Platou upgraded the stock to “Neutral” rating in Monday, July 18 report. As per Friday, March 11, the company rating was initiated by Credit Suisse. The firm has “Overweight” rating by JP Morgan given on Tuesday, May 31. The firm has “Market Perform” rating by Cowen & Co given on Friday, April 29.
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 increased, 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.
Pub Employees Retirement Association Of Colorado has invested 0% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF). Sei Invests Company last reported 0% of its portfolio in the stock. Brandes Invest Prtnrs L P accumulated 58,500 shares or 0.01% of the stock. Evercore Wealth Management has 1,000 shares for 0% of their US portfolio. Td Asset Mgmt Incorporated last reported 38,389 shares in the company. Moreover, Teacher Retirement Sys Of Texas has 0% invested in Cliffs Natural Resources Inc (NYSE:CLF) for 19,954 shares. Ubs Asset Mgmt Americas Inc holds 188,475 shares or 0% of its portfolio. Aristeia Cap Llc accumulated 4.81 million shares or 2.18% of the stock. State Street accumulated 8.62 million shares or 0.01% of the stock. Da Davidson Co last reported 0% of its portfolio in the stock. The Massachusetts-based Moors Cabot has invested 0.03% in Cliffs Natural Resources Inc (NYSE:CLF). Vantage Investment Advsr Limited Liability Company holds 0% or 200 shares in its portfolio. Great West Life Assurance Com Can holds 0% or 14,580 shares in its portfolio. Teachers Advsrs Inc has invested 0.01% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF). Huntington Bank & Trust holds 0% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF) for 1,000 shares.
Insider Transactions: Since October 28, 2016, the stock had 6 buys, and 0 selling transactions for $215,102 net activity. RUTKOWSKI JOSEPH A also bought $31,895 worth of Cliffs Natural Resources Inc (NYSE:CLF) on Friday, October 28. $54,900 worth of Cliffs Natural Resources Inc (NYSE:CLF) was bought by BALDWIN JOHN T on Monday, October 31. $22,638 worth of Cliffs Natural Resources Inc (NYSE:CLF) was bought by Fisher Robert P Jr. 12,500 Cliffs Natural Resources Inc (NYSE:CLF) shares with value of $67,918 were bought by Taylor Douglas C. The insider GREEN SUSAN MIRANDA bought $10,001. Rychel Eric M had bought 5,000 shares worth $27,750 on Wednesday, November 2.
More news for Cliffs Natural Resources Inc (NYSE:CLF) were recently published by: Prnewswire.com, which released: “Cliffs Natural Resources Inc. Appoints Eric Rychel to Board of Directors” on October 27, 2016. Nasdaq.com‘s article titled: “Earnings Reaction History: Cliffs Natural Resources Inc., 20.0% Follow-Through …” and published on October 27, 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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