Revenue Update on Cliffs Natural Resources Inc(NYSE:CLF)

Cliffs Natural Resources Inc(NYSE:CLF) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $496.20M. Analysts estimated a revenue of $483.77M. Earnings per share were $0.07. Analysts had estimated an EPS of $0.01.

In a different note, On Jul 18, 2016, Clarkson Platou said it Upgrades its rating on Cliffs Natural Resources Inc. The shares have been rated ‘Neutral’ by the firm. On Jun 10, 2016, Macquarie said it Upgrades its rating on Cliffs Natural Resources Inc. The shares have been rated ‘Outperform’ by the firm. On May 31, 2016, JP Morgan said it Upgrades its rating on Cliffs Natural Resources Inc. The shares have been rated ‘Overweight’ by the firm.

Cliffs Natural Resources Inc (CLF) made into the market gainers list on Thursdays trading session with the shares advancing 0.50% or 0.04 points. Due to strong positive momentum, the stock ended at $8.11, which is also near the day’s high of $8.27. The stock began the session at $7.98 and the volume stood at 1,05,16,816 shares. The 52-week high of the shares is $8.45 and the 52 week low is $1.2. The company has a current market capitalization of $1,491 M and it has 18,38,70,060 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 9, 2016, Lourenco Goncalves (CEO) purchased 100,000 shares at $3.04 per share price.Also, On May 6, 2016, Douglas C Taylor (director) sold 7,231,520 shares at $4.01 per share price.On Feb 25, 2016, Michael D Siegal (director) purchased 2,263 shares at $0.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Cliffs Natural Resources Inc. 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 Company also produces low-volatile metallurgical coal in the United States from its mines located in Alabama and West Virginia. 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 operates in segments: U.S. Iron Ore Asia Pacific Iron Ore and North American Coal. 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. Its Asia Pacific operations consist of its Koolyanobbing iron ore mining complex in Western Australia.

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