Cliffs Natural Resources Inc. (CLF) Shares Bought by Stratos Wealth Partners LTD.
Stratos Wealth Partners LTD. raised its stake in Cliffs Natural Resources Inc. (NYSE:CLF) by 22.1% during the second quarter, Holdings Channel reports. The fund owned 21,814 shares of the mining company’s stock after buying an additional 3,943 shares during the period. Stratos Wealth Partners LTD.’s holdings in Cliffs Natural Resources were worth $151,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. SFE Investment Counsel acquired a new position in shares of Cliffs Natural Resources during the first quarter valued at $112,000. Quantum Capital Management acquired a new position in shares of Cliffs Natural Resources during the first quarter valued at $113,000. Nuveen Asset Management LLC increased its position in shares of Cliffs Natural Resources by 1.2% in the first quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock valued at $115,000 after buying an additional 164 shares during the last quarter. Invictus RG acquired a new position in shares of Cliffs Natural Resources during the first quarter valued at $121,000. Finally, 361 Capital LLC acquired a new position in shares of Cliffs Natural Resources during the first quarter valued at $129,000. 66.58% of the stock is owned by institutional investors and hedge funds.
Cliffs Natural Resources Inc. (NYSE:CLF) opened at 7.19 on Friday. The stock’s 50 day moving average price is $7.26 and its 200-day moving average price is $7.81. Cliffs Natural Resources Inc. has a 12-month low of $4.91 and a 12-month high of $12.37. The stock has a market capitalization of $2.13 billion, a PE ratio of 32.98 and a beta of 1.69.
Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.08. Cliffs Natural Resources had a negative return on equity of 13.83% and a net margin of 2.44%. The company had revenue of $569.30 million during the quarter, compared to analysts’ expectations of $485.93 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. Analysts expect that Cliffs Natural Resources Inc. will post $0.91 earnings per share for the current year.
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Several research firms recently commented on CLF. Axiom Securities reissued a “sell” rating on shares of Cliffs Natural Resources in a research note on Tuesday, July 25th. ValuEngine raised Cliffs Natural Resources from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 11th. FBR & Co raised Cliffs Natural Resources from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $11.00 to $10.00 in a research note on Friday, April 28th. Zacks Investment Research downgraded Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Finally, BidaskClub raised Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $8.50.
In related news, Chairman Lourenco Goncalves purchased 100,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was bought at an average cost of $7.19 per share, with a total value of $719,000.00. Following the completion of the acquisition, 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 document filed with the SEC, which can be accessed through the SEC website. 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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