Analyst Upgrades: Cliffs Natural, Hecla Mining, Seagate Tech

Analysts upwardly revised their ratings and price targets on Cliffs Natural Resources Inc (CLF), Hecla Mining Company (HL), and Seagate Technology PLC (STX)

Jul 12, 2016 at 9:09 AM
facebook X logo linkedin

Analysts are weighing in on miners Cliffs Natural Resources Inc (NYSE:CLF) and Hecla Mining Company (NYSE:HL), as well as data storage stock Seagate Technology PLC (NASDAQ:STX). Here's a quick roundup of today's bullish brokerage notes on CLF, HL, and STX.

  • CLF is pointed 9% higher pre-market, following a price-target hike to $10.50 from $7 at J.P. Morgan Securities. Already, the mining stock has more than quadrupled in value year-to-date -- in step with the wider commodities sector -- closing Monday at $6.72. Additional bullish brokerage attention could further boost Cliffs Natural Resources Inc shares, too. Three-quarters of the analysts tracking the stock rate it a "hold" or worse, leaving the door wide open to future upgrades.

  • CIBC upped its price target on HL to $5.25 from $4.50. However, that mark represents a 13.2% discount to yesterday's settlement at $6.05. Speaking of yesterday, Hecla Mining Company notched a three-year high of $6.15 on Monday, after the firm upwardly revised its full-year gold production estimate. Despite the technical success, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been buying to open puts over calls at a quicker-than-usual clip. Specifically, HL's 10-day put/call volume ratio of 0.17 ranks in the 71st annual percentile.

  • STX said it expects to report better-than-forecast fiscal fourth-quarter revenue and will lay off 14% of its global workforce by the end of 2017. The brokerage community has reacted positively, with Morgan Stanley upgrading its rating to "equal weight" and bumping its price target up to $27. At least eight other analysts also upped their target prices on Seagate Technology PLC. Ahead of the bell, the stock has jumped 14% after ending Monday at $24.09. Longer term, however, the shares have performed miserably -- losing nearly half their value year-over-year. One group that could find itself on the wrong end of today's potential bull gap is short sellers. Nearly 11% of STX's float is sold short, representing more than a week's worth of pent-up buying power, at the stock's typical trading levels.
Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI