The stock of Cliffs Natural Resources Inc (NYSE:CLF) hit a new 52-week high and has $10.28 target or 5.00% above today’s $9.79 share price. The 6 months bullish chart indicates low risk for the $2.43 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $10.28 price target is reached, the company will be worth $121.50M 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 17.25 million shares traded hands or 26.65% up from the average. Cliffs Natural Resources Inc (NYSE:CLF) has risen 155.41% since April 25, 2016 and is uptrending. It has outperformed by 149.40% the S&P500.
Analysts await Cliffs Natural Resources Inc (NYSE:CLF) to report earnings on January, 25. They expect $0.20 EPS, up 242.86% or $0.34 from last year’s $-0.14 per share. CLF’s profit will be $49.64 million for 12.24 P/E if the $0.20 EPS becomes a reality. After $-0.02 actual EPS 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. FBR Capital maintained the shares of CLF in a report on Thursday, October 13 with “Mkt Perform” rating. The firm has “Underperform” rating by Credit Suisse given on Friday, March 11. The rating was initiated by FBR Capital on Friday, September 18 with “Mkt Perform”. Macquarie Research maintained Cliffs Natural Resources Inc (NYSE:CLF) on Monday, August 29 with “Outperform” rating. The company was initiated on Thursday, August 27 by Wolfe Research. The firm has “Equal-Weight” rating given on Monday, November 14 by Morgan Stanley. Axiom Capital initiated it with “Sell” rating and $2 target price in Friday, August 21 report. Macquarie Research downgraded the stock to “Neutral” rating in Friday, January 8 report. Cowen & Co maintained the shares of CLF in a report on Friday, April 29 with “Market Perform” rating. FBR Capital maintained the stock with “Mkt Perform” rating in Monday, November 2 report.
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.
Sandy Spring Savings Bank owns 2,600 shares or 0% of their US portfolio. Ancora Advisors Llc last reported 32,860 shares in the company. Creative Planning, a Kansas-based fund reported 1.24 million shares. Deutsche Financial Bank Ag has invested 0% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF). Paloma Ptnrs Communications reported 86,663 shares or 0.01% of all its holdings. Moreover, Rhumbline Advisers has 0% invested in Cliffs Natural Resources Inc (NYSE:CLF) for 235,732 shares. Qs Invsts Ltd Liability Co holds 0% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF) for 91 shares. Canada Pension Plan Invest Board has 14,841 shares for 0% of their US portfolio. Nuveen Asset Ltd Limited Liability Company has 11,649 shares for 0% of their US portfolio. Lpl Ltd Com holds 106,192 shares or 0.01% of its portfolio. Brandes Investment Prtnrs Lp holds 0.01% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF) for 58,500 shares. Ifc Fl has invested 0.01% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF). Nationwide Fund, a Pennsylvania-based fund reported 115,626 shares. Group accumulated 0% or 101,197 shares. Sg Americas Ltd Limited Liability Company has invested 0% of its portfolio in Cliffs Natural Resources Inc (NYSE:CLF).
Insider Transactions: Since October 28, 2016, the stock had 6 insider buys, and 0 sales for $215,102 net activity. $54,900 worth of Cliffs Natural Resources Inc (NYSE:CLF) was bought by BALDWIN JOHN T on Monday, October 31. RUTKOWSKI JOSEPH A also bought $31,895 worth of Cliffs Natural Resources Inc (NYSE:CLF) on Friday, October 28. 1,770 shares were bought by GREEN SUSAN MIRANDA, worth $10,001 on Tuesday, November 1. On Friday, October 28 Taylor Douglas C bought $67,918 worth of the stock or 12,500 shares. $22,638 worth of shares were bought by Fisher Robert P Jr on Thursday, November 3. On Wednesday, November 2 Rychel Eric M bought $27,750 worth of the stock or 5,000 shares.
Another recent and important Cliffs Natural Resources Inc (NYSE:CLF) news was published by Seekingalpha.com which published an article titled: “Cliffs Natural Resources: Don’t Get Disappointed” on November 01, 2016.
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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