Published: Sat, October 21, 2017
Money | By Armando Alvarado

Understanding the Latest Financial Performance of Cleveland-Cliffs Inc. (NYSE:CLF)


Cowen and Company reiterated a "hold" rating on shares of Cliffs Natural Resources in a report on Thursday, August 3rd. This company shares are -4.46% up from its target price of $6.86 and the current market capitalization stands at $2.13B. Cowen & Co has "Hold" rating and $7.0 target. BidaskClub upgraded shares of Cliffs Natural Resources from a "sell" rating to a "hold" rating in a report on Tuesday, June 27th. Whereas, in last 21 trading days (one month) was climbed 3.05% and moved up in last 63 trading days (quarter) of 2.06%. They set a "buy" rating and a $9.00 price target for the company. About 11.16 million shares traded or 15.65% up from the average. Zacks Investment Research upgraded shares of Cliffs Natural Resources from a "sell" rating to a "hold" rating in a research note on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. Cleveland-Cliffs Inc. (CLF) now has 296510 shares outstanding, which means that its market capitalization is $2.20B. (NYSE:CLF) might see muted action given an ABR of 2.1 or Hold rating. Thanks to a rise of nearly 5.43% in the past five days, the stock price is now down -14.63% so far on the year - still in weak territory.

Consequently Cliffs Natural Resources Inc (NYSE:CLF)'s weekly and monthly volatility is 4.62%, 3.88% respectively.

Cleveland-Cliffs Inc. (CLF) recorded volume accumulation so there will probably be a surplus of buyers at $7.10. The mining company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.18 by $0.08. The Company reported consolidated revenues of $698 million, an increase of 26 percent compared to the prior year's third-quarter revenues of $553 million. The company's previous year sales total was 553300. Share performance for the month is now at -1.92%.

Cleveland-Cliffs Inc. (CLF) exchanged hands at an unexpectedly high level of 7.03 million shares over the course of the day.

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TRADEMARK VIOLATION NOTICE: This news story was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this report on another publication, it was copied illegally and republished in violation of USA and global trademark and copyright law. Deutsche National Bank Ag invested 0% of its portfolio in Cleveland-Cliffs Inc (NYSE:CLF). The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CLF. Finally, Great West Life Assurance Co. Can increased its holdings in Cliffs Natural Resources by 58.4% in the 1st quarter. A reading above 70 indicates that a stock is overvalued, and a reading below 30 implies that it is undervalued. Janney Montgomery Scott LLC bought a new position in shares of Cliffs Natural Resources during the first quarter valued at approximately $476,000. (CLF) has a Return on Assets of 3 percent, Return on Investment of 59 percent and a Return on Equity of -4.9 percent.

There has been some buying insider activity on Cleveland-Cliffs Inc.

Recent Trading for Cliffs Natural Resources Inc. Mr. Goncalves added, "On top of that, during the third quarter, we acquired the remaining 15% of the Tilden Mine, and now own 100% of all active and idled iron ore mining assets in the State of MI". Cliffs Natural Resources earned a coverage optimism score of 0.03 on Accern's scale. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in MI and Minnesota.

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