Cliffs Natural Resources Inc (CLF) Bonds Trading 1.8% Higher

An issue of Cliffs Natural Resources Inc (NYSE:CLF) debt rose 1.8% against its face value during trading on Friday. The debt issue has a 5.75% coupon and will mature on March 1, 2025. The debt is now trading at $96.50 and was trading at $93.75 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.

Several research firms have recently weighed in on CLF. Credit Suisse Group AG reiterated an “underperform” rating and issued a $6.00 target price on shares of Cliffs Natural Resources in a research note on Friday, January 13th. Axiom Securities reiterated a “sell” rating on shares of Cliffs Natural Resources in a research note on Tuesday, December 27th. Zacks Investment Research downgraded shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday. FBR & Co reiterated a “market perform” rating and issued a $10.00 target price on shares of Cliffs Natural Resources in a research note on Monday, February 6th. Finally, Vetr downgraded shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating and set a $10.76 target price for the company. in a research note on Wednesday, January 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.81.

Cliffs Natural Resources Inc (NYSE:CLF) traded down 1.39% during trading on Friday, hitting $7.11. 19,165,252 shares of the stock were exchanged. Cliffs Natural Resources Inc has a 1-year low of $2.77 and a 1-year high of $12.37. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 8.16 and a beta of 1.63. The company has a 50-day moving average price of $8.46 and a 200 day moving average price of $8.43. Cliffs Natural Resources also was the recipient of some unusual options trading on Thursday. Traders bought 25,134 call options on the company. This represents an increase of 155% compared to the average daily volume of 9,865 call options.

Cliffs Natural Resources (NYSE:CLF) last posted its earnings results on Thursday, February 9th. The mining company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. The firm earned $754 million during the quarter, compared to the consensus estimate of $662.09 million. Cliffs Natural Resources had a negative return on equity of 6.02% and a net margin of 8.26%. The company’s quarterly revenue was up 58.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.39) EPS. Equities analysts predict that Cliffs Natural Resources Inc will post $1.44 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of CLF. Montgomery Investment Management Inc. increased its position in Cliffs Natural Resources by 2.0% in the third quarter. Montgomery Investment Management Inc. now owns 51,100 shares of the mining company’s stock worth $298,000 after buying an additional 1,000 shares in the last quarter. Baird Financial Group Inc. increased its position in Cliffs Natural Resources by 18.5% in the fourth quarter. Baird Financial Group Inc. now owns 16,853 shares of the mining company’s stock worth $142,000 after buying an additional 2,630 shares in the last quarter. Aperio Group LLC increased its position in Cliffs Natural Resources by 12.9% in the third quarter. Aperio Group LLC now owns 25,061 shares of the mining company’s stock worth $147,000 after buying an additional 2,857 shares in the last quarter. Teacher Retirement System of Texas increased its position in Cliffs Natural Resources by 17.4% in the third quarter. Teacher Retirement System of Texas now owns 23,421 shares of the mining company’s stock worth $137,000 after buying an additional 3,467 shares in the last quarter. Finally, BlackRock Inc. increased its position in Cliffs Natural Resources by 4.9% in the third quarter. BlackRock Inc. now owns 75,139 shares of the mining company’s stock worth $439,000 after buying an additional 3,530 shares in the last quarter. Hedge funds and other institutional investors own 58.73% of the company’s stock.

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Cliffs Natural Resources Company Profile

Cliffs Natural Resources Inc is a mining and natural resources company. The Company 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 segments include U.S. Iron Ore and Asia Pacific Iron Ore. The Company is a producer of iron ore pellets, primarily selling production from U.S.

5 Day Chart for NYSE:CLF

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