Cliffs Natural Resources Inc. (NYSE:CLF) Chairman Lourenco Goncalves bought 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $7.19 per share, for a total transaction of $719,000.00. Following the completion of the transaction, the chairman now directly owns 3,486,970 shares in the company, valued at approximately $25,071,314.30. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Cliffs Natural Resources Inc. (NYSE:CLF) traded down 2.44% on Thursday, reaching $7.19. The company’s stock had a trading volume of 8,501,541 shares. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 32.98 and a beta of 1.69. Cliffs Natural Resources Inc. has a 1-year low of $4.91 and a 1-year high of $12.37. The stock has a 50 day moving average price of $7.20 and a 200-day moving average price of $7.83. Cliffs Natural Resources also was the recipient of unusually large options trading activity on Monday. Stock investors acquired 1,191 put options on the stock. This is an increase of 121% compared to the average volume of 538 put options.

Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings results on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. The business had revenue of $569.30 million for the quarter, compared to analysts’ expectations of $485.93 million. During the same period in the prior year, the firm earned $0.07 earnings per share. Cliffs Natural Resources’s revenue was up 14.7% compared to the same quarter last year. Equities analysts predict that Cliffs Natural Resources Inc. will post $0.91 earnings per share for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in CLF. BlackRock Inc. boosted its stake in Cliffs Natural Resources by 1.6% in the second quarter. BlackRock Inc. now owns 18,860,269 shares of the mining company’s stock valued at $130,512,000 after buying an additional 306,081 shares during the period. Nationwide Fund Advisors boosted its stake in Cliffs Natural Resources by 19.8% in the second quarter. Nationwide Fund Advisors now owns 341,299 shares of the mining company’s stock valued at $2,362,000 after buying an additional 56,526 shares during the period. Ameriprise Financial Inc. boosted its stake in Cliffs Natural Resources by 201.8% in the second quarter. Ameriprise Financial Inc. now owns 104,656 shares of the mining company’s stock valued at $724,000 after buying an additional 69,979 shares during the period. Teachers Advisors LLC boosted its stake in Cliffs Natural Resources by 1.7% in the second quarter. Teachers Advisors LLC now owns 542,655 shares of the mining company’s stock valued at $3,755,000 after buying an additional 9,316 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Cliffs Natural Resources by 30.0% in the second quarter. Alliancebernstein L.P. now owns 679,245 shares of the mining company’s stock valued at $4,700,000 after buying an additional 156,820 shares during the period. 66.58% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently weighed in on CLF. Axiom Securities reaffirmed a “sell” rating on shares of Cliffs Natural Resources in a research report on Tuesday, July 25th. Zacks Investment Research raised Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. ValuEngine lowered Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub lowered Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Clarkson Capital reaffirmed a “neutral” rating on shares of Cliffs Natural Resources in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $8.50.

Cliffs Natural Resources Company Profile

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’s segments include U.S. Iron Ore and Asia Pacific Iron Ore. The Company is a producer of iron ore pellets, primarily selling production from U.S.

Insider Buying and Selling by Quarter for Cliffs Natural Resources (NYSE:CLF)

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