Cliffs Natural Resources Sees Unusually Large Options Volume (CLF)
Cliffs Natural Resources Inc. (NYSE:CLF) was the target of unusually large options trading on Monday. Investors purchased 1,191 put options on the stock. This represents an increase of 121% compared to the average daily volume of 538 put options.
Cliffs Natural Resources (CLF) opened at 7.37 on Thursday. Cliffs Natural Resources has a 12-month low of $4.91 and a 12-month high of $12.37. The firm’s 50-day moving average price is $6.94 and its 200 day moving average price is $7.88. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 33.81 and a beta of 1.69.
Cliffs Natural Resources (NYSE:CLF) last issued its earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.08. The company had revenue of $569.30 million for the quarter, compared to analysts’ expectations of $485.93 million. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. Cliffs Natural Resources’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 EPS. On average, equities research analysts expect that Cliffs Natural Resources will post $0.90 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Cliffs Natural Resources by 53.3% in the first quarter. Vanguard Group Inc. now owns 25,642,631 shares of the mining company’s stock worth $210,526,000 after buying an additional 8,918,169 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Cliffs Natural Resources by 23,956.0% in the first quarter. BlackRock Inc. now owns 18,554,188 shares of the mining company’s stock worth $152,330,000 after buying an additional 18,477,059 shares during the last quarter. State Street Corp boosted its stake in shares of Cliffs Natural Resources by 25.7% in the first quarter. State Street Corp now owns 10,067,676 shares of the mining company’s stock worth $82,654,000 after buying an additional 2,059,034 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Cliffs Natural Resources during the first quarter worth about $45,125,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Cliffs Natural Resources by 93.7% in the first quarter. Dimensional Fund Advisors LP now owns 5,241,713 shares of the mining company’s stock worth $43,034,000 after buying an additional 2,535,927 shares during the last quarter. 66.58% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on CLF. Clarkson Capital reiterated a “neutral” rating on shares of Cliffs Natural Resources in a report on Thursday, July 27th. Cowen and Company reiterated a “hold” rating on shares of Cliffs Natural Resources in a report on Thursday, August 3rd. ValuEngine lowered Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. FBR & Co set a $10.00 price objective on Cliffs Natural Resources and gave the stock a “buy” rating in a report on Saturday, June 17th. Finally, Axiom Securities reiterated a “sell” rating on shares of Cliffs Natural Resources in a report on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Cliffs Natural Resources presently has an average rating of “Hold” and a consensus target price of $8.50.
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About Cliffs Natural Resources
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.
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