Shares last traded at $7.25 just above the 50 day moving average which is $6.22 and slightly below the 200 day moving average of $8.17. The 50 day moving average went up $1.03 or +16.58% whereas the 200 day moving average was down $-0.92 or -11.22%. Cliffs Natural Resources Inc shares had a trading volume of 13,750K by the end of trading on Thursday. Overall, volume was up 62.78% over the stocks normal daily volume.
Here is the rundown on market activity for Cliffs Natural Resources Inc (NYSE:CLF). Director John T. Baldwin purchased 6,000 shares at an average price of $6.32 on May 3rd. Baldwin now owns $556,103 of stock as recorded in a recent Form 4 SEC filing. Lourenco Goncalves, Chairman bought $1,262,000 worth of shares at an average price of $6.31 on Wed the 3rd. That brings Goncalves’s holdings to $18,016,918 as reported to the SEC.
Douglas C. Taylor, Director disclosed the purchase of 3,750 shares of (CLF). The shares were purchased at an average price of $6.61. The Director now owns $186,072 of the stock per the Form 4 SEC filing.
Here are a few other firms who have also updated their positions. Creative Planning trimmed its position by shedding 46,794 shares a decrease of 3.4% from 03/31/2017 to 06/30/2017. Creative Planning now holds 1,317,903 shares valued at $9,120,000. The value of the position overall is down by 18.6%. Clinton Group Inc bolstered its investment by buying 161,298 shares an increase of 548.8% as of 03/31/2017. Clinton Group Inc now controls 190,688 shares worth $1,565,000. The total value of its holdings increased 533.6%.
As of the end of the quarter Bank Of Montreal /can/ had acquired 12,227 shares growing its stake by 228.8%. The value in dollars went from $44,000 to $122,000 a change of 177.3% quarter over quarter. Baird Financial Group, Inc. downsized its stake by shedding 4,487 shares a decrease of 26.6%. Baird Financial Group, Inc. controls 12,366 shares with a value of $102,000. The total value of its holdings decreased 28.2%.
On July 7, 2017 Jefferies began coverage of CLF with a rating of “Buy”. On November 30 JP Morgan maintained a stock rating of “Equal-Weight” but lowered the price expectation from $10.00 to $9.00.
On November 14 the stock rating was upgraded to “Equal-Weight” from “Underweight” and a price target of $9.00 was set in a report issued by Morgan Stanley. Equity analyst Morgan Stanley both upgraded the stock and lowered the price target on November 14 cutting the price target from $10.00 to $9.00 and changing the rating from “Underweight” to “Equal-Weight”.
July 29 investment analysts at JP Morgan held the stock rating at “Overweight” and moved up the price target to $10.00 from $7.00. On July 18 the company was upgraded from “” to “Neutral” by Clarkson Platou.
The company is now down from yesterday’s close of $7.31. The company’s P/E ratio is 42.40 and market cap is 2.15B. As of the latest earnings report the EPS was $0.17 and is estimated to be $0.90 for the current year with 296,401,000 shares outstanding. Next quarter’s EPS is estimated at $0.35 and the next full year EPS is projected to be $0.76.
Cliffs Natural Resources Inc., launched on February 22, 1985, 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 Business’s segments include U.S. Iron Ore and Asia Pacific Iron Ore. In addition, the Company operates an iron ore mining complex in Western Australia. In the United States, the Company owned four operational iron ore mines and one indefinitely idled mine, as of December 31, 2016..