On a one to five ratings scale where 1 refers to a Strong Buy, 2 directs a Buy, 3 a Hold, 4 indicates a Sell and 5 a Strong Sell. The broker also raised its price target on the stock to $60 from $58. Shares are trading -26.84% away from the 52-week high mark of $5.83 and +255.42% far from the 52-week bottom of $1.20.
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Insider Activity: Insiders look mixed about the prospects of the company that they seem to trade shares both ways while they are 94.3 up so far this year. Cliffs Natural Resources Inc (NYSE:CLF)’s price sits 21.31% above from its 50-day moving average of $3.75 and 55.70% far from the stock’s 200-day moving average which is $2.57. Also, CEO Lourenco Goncalves purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 9th. Moreover, Cetera Advisors Llc has 0.21% invested in the company for 292,538 shares. Following the transaction, the chief executive officer now owns 2,475,044 shares of the company’s stock, valued at approximately $7,524,133.76. Insiders are expected to know better about the health and prospects of their company, which is why insiders’ move deserves attention. The Previous Year EPS of this Quarter is $-0.21. The mining company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.81. That would represent a -90.48% year-over-year decrease.
Earnings Roundup: In the last fiscal quarter alone, Cliffs Natural Resources Inc. generated around $305.5M in revenue and net income of -$0.33/share. The company had revenue of $306.00 million for the quarter, compared to analysts expectations of $271.80 million.
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According to an update released by analysts at JP Morgan the broker has now set a “Overweight” rating on shares of Cliffs Natural Resources Inc (NYSE:CLF) with a price target of 7. (CLF), so its rating change is noteworthy. Credit Suisse initiated coverage on Cliffs Natural Resources in a report on Thursday, March 10th. There was another key note issued by Macquarie on Friday January 08, 2016. Earlier the firm had a rating of “Neutral ” on the company shares. The firm now has a $7.00 price objective on the mining company’s stock.
