Vale SA (ADR) (NYSE:VALE) & Cliffs Natural Resources Inc (NYSE:CLF) Traders Recap – Daily News Journal

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On Thursday, Shares of Vale SA (ADR) (NYSE:VALE) lost -4.90% to $7.95. The share price is trading in a range of $7.84 – 8.07. The stock exchanged hands with 49.99 million shares contrast to its average daily volume of 28.43 million shares.

Vale SA (ADR) (NYSE:VALE) have shown a low EPS growth of -4.90% in the last 5 years and has earnings growth of 30.00% yoy. Analysts have a mean recommendation of 2.60 on this stock (A rating of less than 2 means buy, “hold” within the 3 range, “sell” within the 4 range, and “strong sell” within the 5 range). The stock appeared -29.77% below its 52-week highs and is down -5.58% for the last five trades.

Shares of Cliffs Natural Resources Inc (NYSE:CLF) inclined 0.96% to $6.32. The share price of the stock surged 49.06% for the year.

Cliffs Natural Resources Inc. (CLF) is responding to articles published recently by Barron’s Ben Levisohn and Axiom Capital Administration’s Gordon Johnson with respect to an open market purchase of 200,000 Cliffs shares made yesterday by its Chairman, President and CEO, Lourenco Goncalves. These comments include statements that are inaccurate and materially misleading regarding Mr. Goncalves’s previous share purchases. In particular, Barron’s and Axiom inaccurately stated that Mr. Goncalves last open market share purchase occurred in March 2015. In fact, Mr. Goncalves has made multiple noteworthyopen market purchases of Cliffs shares since March 2015, totaling 300,000 shares, counting two purchases in May 2015 and one purchase in May 2016.  All of these purchases were reflected in Form 4’s filed with the United States Securities and Exchange Commission. Both Barron’s and Axiom would have been well aware of these later trades from publicly available information at the time their comments were made.

Cliffs believes that such materially misleading misstatements are an intentional attempt to manipulate Cliffs’ share price to support the “bearish” position Mr. Johnson’s firm Axiom has historically taken with respect to Cliffs’ stock.  As a result of these statements, Cliffs has already instructed its outside legal counsel to pursue appropriate legal action against all parties involved.

Analysts give CLF a mean recommendation of 3.10. The company has dropped -31.30% in past 3 months and in the last five trades has moved down -5.67%. The stock has earnings growth of -117.60% yoy and showed a low EPS growth of -38.90% over the past five years. The stock’s price moved down its 200-day moving average of $8.53. The stock is presently trading down its SMA-50 of $7.81.

 

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