Van ECK Associates Corp decreased its position in Cliffs Natural Resources Inc. (NYSE:CLF) by 15.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 434,387 shares of the mining company’s stock after selling 81,664 shares during the period. Van ECK Associates Corp owned approximately 0.15% of Cliffs Natural Resources worth $3,006,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CLF. Nationwide Fund Advisors boosted its stake in Cliffs Natural Resources by 61.7% in the 1st quarter. Nationwide Fund Advisors now owns 284,773 shares of the mining company’s stock worth $2,338,000 after purchasing an additional 108,638 shares in the last quarter. Strs Ohio boosted its stake in Cliffs Natural Resources by 103.8% in the 1st quarter. Strs Ohio now owns 15,900 shares of the mining company’s stock worth $130,000 after purchasing an additional 8,100 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Cliffs Natural Resources by 784.5% in the 1st quarter. Russell Investments Group Ltd. now owns 452,176 shares of the mining company’s stock worth $3,713,000 after purchasing an additional 401,056 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Cliffs Natural Resources by 58.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 28,957 shares of the mining company’s stock worth $237,000 after purchasing an additional 10,677 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in Cliffs Natural Resources by 31.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 161,183 shares of the mining company’s stock worth $1,323,000 after purchasing an additional 38,852 shares in the last quarter. Institutional investors own 58.28% of the company’s stock.

In other Cliffs Natural Resources news, Chairman Lourenco Goncalves acquired 100,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was acquired at an average cost of $7.11 per share, for a total transaction of $711,000.00. Following the completion of the transaction, the chairman now directly owns 3,586,970 shares of the company’s stock, valued at $25,503,356.70. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by insiders.

Several equities analysts have issued reports on the stock. ValuEngine cut shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Axiom Securities restated a “sell” rating on shares of Cliffs Natural Resources in a research note on Thursday, July 13th. Zacks Investment Research cut shares of Cliffs Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 28th. Finally, Cowen and Company restated a “market perform” rating and set a $7.00 target price on shares of Cliffs Natural Resources in a research note on Wednesday, June 28th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Cliffs Natural Resources has an average rating of “Hold” and a consensus target price of $8.31.

WARNING: This article was first posted by Daily Political and is the property of of Daily Political. If you are viewing this article on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this article can be accessed at https://www.dailypolitical.com/2017/09/25/van-eck-associates-corp-has-3-01-million-position-in-cliffs-natural-resources-inc-clf.html.

Shares of Cliffs Natural Resources Inc. (CLF) opened at 6.86 on Monday. Cliffs Natural Resources Inc. has a one year low of $4.91 and a one year high of $12.37. The firm’s 50-day moving average is $7.65 and its 200-day moving average is $7.30. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 31.47 and a beta of 1.70.

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. The business had revenue of $569.30 million during the quarter, compared to analysts’ expectations of $485.93 million. Cliffs Natural Resources had a negative return on equity of 13.83% and a net margin of 2.44%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 earnings per share. Equities research analysts forecast that Cliffs Natural Resources Inc. will post $0.97 EPS for the current year.

About Cliffs Natural Resources

Cleveland-Cliffs Inc, formerly 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.

Want to see what other hedge funds are holding CLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cliffs Natural Resources Inc. (NYSE:CLF).

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

Receive News & Ratings for Cliffs Natural Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cliffs Natural Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.