The consensus on Cliffs Natural Resources (CLF) based on 7 analyst recommendation on the company stock is 2.53, which is interpreted as a Hold recommendation. 5 analysts have suggested “Sell” for the company. The mean price target is calculated keeping in view the consensus of 6 brokerage firms. The rating firm gave a Overweight rating to this stock in a research note on May 31, 2016. Both the RSI indicator and target price of 51.03 and $10.83 respectively, lead us to believe that it should be put on hold over the coming weeks.
Advertisement
Traders are bullish on Cliffs Natural Resources (CLF) as it has outperformed the S&P 500 by a wide margin of 33.33% in the past 4 weeks. They now have a Dollars 6 price target on the stock. 0 analysts call it Underweight, while 0 think it is Overweight. They now have a United States dollars 1.5 price target on the stock.
03/16/2016 – Cliffs Natural Resources Inc. had its “underperform” rating reiterated by analysts at Bank of America Merrill Lynch. They now have a Dollars 1 price target on the stock. However, the stock managed to close at $7.91, a loss of 2.22% for the day. Recently, investment analysts covering the stock have updated the mean rating to 2.6. Goncalves Lourenco accumulated 100,000 shares in the company at a per-share price of $3.04 and ended up spending $304,000 in the investment.
Shares of Cliffs Natural Resources (NYSE:CLF) traded up 0.38% during trading on Wednesday, hitting $7.99. Cliffs Natural Resources Inc has been the topic of 12 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The short interest to Cliffs Natural Resources Incorporated’s float is 33.97%.
The mining and natural resources company will utilize the proceeds to repay its debt obligations, specifically related to its 2018 senior notes, which are worth $283.6 million, are unsettled, as of June 30, 2016, and will mature on January 15, 2018.
The stock’s 50 day moving average is $6.32 and its 200-day moving average is $3.88.
Advertisement
Price Momentum: Despite the 1.38% rise in value, the stock’s new closing price reflects a -4.5% fall in price from company’s one year high of $8.45. The company operates five iron ore mines in Michigan and Minnesota; and Koolyanobbing iron ore mining complex located in Western Australia, which produces lump and fines iron ore. In addition, it operates an iron ore mining complex in Western Australia and owns two non-operating iron ore mines in Eastern Canada. The Company is a producer of iron ore pellets, primarily selling production from U.S. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore. In the United States, it operates five iron ore mines in Michigan and Minnesota and two metallurgical coal operations located in Alabama and West Virginia. The other two iron ore operations in Minnesota, United Taconite mine and Northshore mine. Its Asia Pacific Iron Ore operations are located in Western Australia and consist of its Koolyanobbing operation.
