Notable Price Action: What’s Propelling Cliffs Natural Resources Inc to Increase So Much?

Notable Price Action: What's Propelling Cliffs Natural Resources Inc to Increase So Much?

The stock of Cliffs Natural Resources Inc (NYSE:CLF) is a huge mover today! About 4.76 million shares traded hands. Cliffs Natural Resources Inc (NYSE:CLF) has risen 95.52% since April 5, 2016 and is uptrending. It has outperformed by 93.56% the S&P500.
The move comes after 8 months positive chart setup for the $1.38 billion company. It was reported on Nov, 7 by Barchart.com. We have $8.97 PT which if reached, will make NYSE:CLF worth $662.40 million more.

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 17 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was initiated by FBR Capital with “Mkt Perform” on Friday, September 18. The firm has “Outperform” rating given on Friday, June 10 by Macquarie Research. The rating was initiated by Wolfe Research with “Sell” on Thursday, August 27. Macquarie Research downgraded Cliffs Natural Resources Inc (NYSE:CLF) rating on Friday, January 8. Macquarie Research has “Neutral” rating and $1.60 price target. The rating was maintained by Macquarie Research on Monday, August 29 with “Outperform”. The firm earned “Overweight” rating on Tuesday, May 31 by JP Morgan. The rating was initiated by Axiom Capital on Friday, August 21 with “Sell”. The stock has “Hold” rating given by Deutsche Bank on Monday, October 5. Cowen & Co maintained the stock with “Market Perform” rating in Friday, April 29 report. The rating was downgraded by Vetr to “Hold” on Monday, August 31.

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 Q2 2016. Its down 0.15, from 1.28 in 2016Q1. The ratio fall, 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.
Financial Architects Inc accumulated 9,683 shares or 0.02% of the stock. Teachers Advisors last reported 522,620 shares in the company. Delta Asset Mngmt Ltd Liability Corporation Tn last reported 600 shares in the company. Alliancebernstein Lp last reported 214,800 shares in the company. The New Jersey-based Blackrock Investment Limited Liability Company has invested 0.01% in Cliffs Natural Resources Inc (NYSE:CLF). The Georgia-based Invesco Limited has invested 0% in Cliffs Natural Resources Inc (NYSE:CLF). Swiss National Bank holds 0% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF) for 274,900 shares. Winfield Incorporated holds 0.02% or 5,900 shares in its portfolio. Voya Invest Mgmt Ltd Liability Company last reported 0% of its portfolio in the stock. Creative Planning holds 0.05% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF) for 1.24M shares. Forbes J M & Limited Liability Partnership has 0.02% invested in the company for 10,000 shares. Cambridge Invest Advsr accumulated 66,275 shares or 0.01% of the stock. Proshare Advsr Ltd last reported 25,529 shares in the company. Financial Bank Of New York Mellon Corporation accumulated 0% or 949,893 shares. Blackrock Gru, a United Kingdom-based fund reported 86,391 shares.

Insider Transactions: Since May 9, 2016, the stock had 6 insider buys, and 0 selling transactions for $215,102 net activity. $54,900 worth of Cliffs Natural Resources Inc (NYSE:CLF) shares were bought by BALDWIN JOHN T. Fisher Robert P Jr had bought 4,000 shares worth $22,638 on Thursday, November 3. Another trade for 6,000 shares valued at $31,895 was made by RUTKOWSKI JOSEPH A on Friday, October 28. Taylor Douglas C bought 12,500 shares worth $67,918. On Tuesday, November 1 the insider GREEN SUSAN MIRANDA bought $10,001. Rychel Eric M had bought 5,000 shares worth $27,750 on Wednesday, November 2. GONCALVES LOURENCO bought $304,320 worth of stock.

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 Seekingalpha.com published the news titled: “Cliffs Natural Resources: Don’t Get Disappointed” on November 01, 2016. Nasdaq.com‘s news article titled: “Earnings Reaction History: Cliffs Natural Resources Inc., 20.0% Follow-Through …” with publication date: October 27, 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.

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