ING Groep NV acquired a new position in shares of Cliffs Natural Resources Inc. (NYSE:CLF) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,000 shares of the mining company’s stock, valued at approximately $152,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CLF. Vanguard Group Inc. raised its position 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 in the last quarter. BlackRock Inc. raised its position 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 in the last quarter. State Street Corp raised its position 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 in the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in shares of Cliffs Natural Resources during the first quarter worth approximately $45,125,000. Finally, Dimensional Fund Advisors LP raised its position 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 in the last quarter. 66.58% of the stock is owned by institutional investors and hedge funds.

Cliffs Natural Resources Inc. (NYSE CLF) remained flat at $7.19 during mid-day trading on Friday. The company had a trading volume of 7,532,177 shares. The firm has a 50 day moving average of $7.26 and a 200-day moving average of $7.81. Cliffs Natural Resources Inc. has a 12 month low of $4.91 and a 12 month high of $12.37. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 32.98 and a beta of 1.69.

Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings data on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, beating the Zacks’ 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 company had revenue of $569.30 million for the quarter, compared to analyst estimates of $485.93 million. During the same period in the prior year, the firm posted $0.07 EPS. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts forecast that Cliffs Natural Resources Inc. will post $0.91 earnings per share for the current year.

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A number of research analysts have recently commented on CLF shares. BidaskClub raised shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Axiom Securities reaffirmed a “sell” rating on shares of Cliffs Natural Resources in a research report on Monday, July 31st. Jefferies Group LLC started coverage on shares of Cliffs Natural Resources in a research report on Friday, July 7th. They set a “buy” rating and a $9.00 price objective for the company. TheStreet raised shares of Cliffs Natural Resources from a “d+” rating to a “c” rating in a research report on Monday, July 31st. Finally, ValuEngine lowered shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $8.50.

In other news, Chairman Lourenco Goncalves acquired 100,000 shares of Cliffs Natural Resources stock in a transaction dated Thursday, August 10th. The shares were bought at an average cost of $7.19 per share, with a total value of $719,000.00. Following the purchase, the chairman now owns 3,486,970 shares in the company, valued at approximately $25,071,314.30. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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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Institutional Ownership by Quarter for Cliffs Natural Resources (NYSE:CLF)

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