Cliffs Natural Resources Inc. (NYSE:CLF) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 39,058,148 shares, a decrease of 8.3% from the October 13th total of 42,599,044 shares. Based on an average trading volume of 14,592,090 shares, the days-to-cover ratio is currently 2.7 days. Currently, 14.0% of the company’s stock are short sold.

Cliffs Natural Resources (CLF) opened at $6.16 on Thursday. The company has a debt-to-equity ratio of -2.03, a current ratio of 1.89 and a quick ratio of 1.18. Cliffs Natural Resources has a 1-year low of $5.56 and a 1-year high of $12.37. The company has a market cap of $1,740.00, a PE ratio of 6.59 and a beta of 1.58.

Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings results on Friday, October 20th. The mining company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.06. Cliffs Natural Resources had a net margin of 5.48% and a negative return on equity of 29.06%. The firm had revenue of $698.00 million during the quarter, compared to the consensus estimate of $669.25 million. During the same quarter last year, the firm earned ($0.11) EPS. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. research analysts expect that Cliffs Natural Resources will post 0.49 earnings per share for the current year.

In other Cliffs Natural Resources news, Chairman Lourenco Goncalves acquired 100,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of $7.11 per share, with a total value of $711,000.00. Following the transaction, the chairman now owns 3,586,970 shares of the company’s stock, valued at approximately $25,503,356.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alps Advisors Inc. lifted its stake in Cliffs Natural Resources by 0.3% in the second quarter. Alps Advisors Inc. now owns 52,796 shares of the mining company’s stock worth $365,000 after purchasing an additional 137 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in 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 worth $115,000 after purchasing an additional 164 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Cliffs Natural Resources by 3.8% in the second quarter. Teacher Retirement System of Texas now owns 22,601 shares of the mining company’s stock worth $156,000 after purchasing an additional 824 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Cliffs Natural Resources by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 26,167 shares of the mining company’s stock worth $181,000 after purchasing an additional 2,016 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in Cliffs Natural Resources by 7.2% in the second quarter. Amalgamated Bank now owns 35,530 shares of the mining company’s stock worth $246,000 after purchasing an additional 2,392 shares during the last quarter. 57.81% of the stock is owned by institutional investors and hedge funds.

CLF has been the topic of several research analyst reports. Axiom Securities reissued a “sell” rating on shares of Cliffs Natural Resources in a report on Monday, July 31st. TheStreet raised Cliffs Natural Resources from a “d+” rating to a “c” rating in a report on Monday, July 31st. BidaskClub cut Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. ValuEngine raised Cliffs Natural Resources from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Cowen and Company restated a “hold” rating on shares of Cliffs Natural Resources in a research note on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Cliffs Natural Resources currently has a consensus rating of “Hold” and an average target price of $8.79.

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Cliffs Natural Resources Company Profile

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.

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