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Weakness Seen in Cliffs Natural Resources (CLF): Stock Falls by 6%

Zacks Equity Research

Cliffs Natural Resources Inc. (CLF) saw a big move last session, as the company’s shares fell over 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for CLF, as the stock is now down over 17% since Aug 11.

The producer of iron ore pellets and a supplier of metallurgical coal has seen a flat track record when it comes to current year estimate revisions over the past few weeks, and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.

CLF currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 133.33%.

Some better-ranked stocks in the same sector include Fortescue Metals Group Limited (FSUGY), AK Steel Holding Corporation (AKS) and Angang Steel Company Limited (ANGGY). All these stocks carry a Zacks Rank #2 (Buy).

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