Analysts at RBC Capital lowered their price objective on shares of Cliffs Natural Resources (NYSE:CLF) from $22.00 to $21.00 in a research report issued to clients and investors on Monday, StockRatingsNetwork reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target suggests a potential upside of 15.51% from the stock’s previous close.
Cliffs Natural Resources (NYSE: CLF) traded up 2.31% on Monday, hitting $18.18. Cliffs Natural Resources has a 1-year low of $15.41 and a 1-year high of $46.83. The stock’s 50-day moving average is currently $17.28. The company’s market cap is $2.783 billion.
Cliffs Natural Resources (NYSE:CLF) last released its earnings data on Wednesday, April 24th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.35 by $0.25. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company posted $2.63 earnings per share. The company’s quarterly revenue was down 5.9% on a year-over-year basis. Analysts expect that Cliffs Natural Resources will post $2.26 EPS for the current fiscal year.
CLF has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Cliffs Natural Resources from a “neutral” rating to an “underperform” rating in a research note to investors on Monday, July 15th. They now have a $15.00 price target on the stock. Separately, analysts at CIBC downgraded shares of Cliffs Natural Resources from a “sector perform” rating to an “underperform” rating in a research note to investors on Thursday, July 11th. They now have a $28.00 price target on the stock, down previously from $34.00. Finally, analysts at BMO Capital Markets reiterated a “market perform” rating on shares of Cliffs Natural Resources in a research note to investors on Wednesday, July 10th. They now have a $23.00 price target on the stock.
Six analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $24.74.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, August 13th.
Cliffs Natural Resources Inc is an international mining and natural resources company. The Company is an iron ore producer and a producer of metallurgical coal.