Geode Capital Management LLC raised its stake in shares of Cliffs Natural Resources Inc. (NYSE:CLF) by 30.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,125,683 shares of the mining company’s stock after buying an additional 721,544 shares during the period. Geode Capital Management LLC owned approximately 1.05% of Cliffs Natural Resources worth $25,661,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. SFE Investment Counsel acquired a new stake in shares of Cliffs Natural Resources during the first quarter valued at about $112,000. Quantum Capital Management bought a new position in shares of Cliffs Natural Resources during the first quarter valued at approximately $113,000. 361 Capital LLC bought a new position in shares of Cliffs Natural Resources during the first quarter valued at approximately $129,000. Strs Ohio raised its position in shares of Cliffs Natural Resources by 103.8% in the first quarter. Strs Ohio now owns 15,900 shares of the mining company’s stock valued at $130,000 after buying an additional 8,100 shares during the period. Finally, Wedbush Securities Inc. bought a new position in shares of Cliffs Natural Resources during the first quarter valued at approximately $131,000. 66.47% of the stock is currently owned by institutional investors.

Shares of Cliffs Natural Resources Inc. (NYSE:CLF) traded up 1.50% during trading on Thursday, hitting $7.43. 6,717,812 shares of the stock traded hands. Cliffs Natural Resources Inc. has a 1-year low of $4.91 and a 1-year high of $12.37. The company has a market cap of $2.20 billion, a PE ratio of 15.16 and a beta of 1.68. The company has a 50 day moving average of $6.94 and a 200-day moving average of $7.88.

Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings results 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 negative return on equity of 13.83% and a net margin of 2.44%. The firm had revenue of $569.30 million for the quarter, compared to analyst estimates of $485.93 million. During the same period last year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities analysts anticipate that Cliffs Natural Resources Inc. will post $0.91 EPS for the current fiscal year.

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CLF has been the subject of several recent research reports. Axiom Securities reissued a “sell” rating on shares of Cliffs Natural Resources in a research report on Tuesday, July 25th. ValuEngine raised shares of Cliffs Natural Resources from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 11th. FBR & Co raised shares of Cliffs Natural Resources from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $11.00 to $10.00 in a report on Friday, April 28th. Zacks Investment Research lowered shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Finally, BidaskClub raised shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Cliffs Natural Resources currently has a consensus rating of “Hold” and an average target price of $8.50.

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.

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

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