Cliffs Natural Resources Inc. (NYSE:CLF) saw unusually large options trading on Monday. Traders bought 1,191 put options on the company. This represents an increase of 121% compared to the average volume of 538 put options.

Several hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its stake in shares of Cliffs Natural Resources by 37.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 43,295 shares of the mining company’s stock valued at $300,000 after buying an additional 11,893 shares during the period. Chicago Equity Partners LLC boosted its stake in shares of Cliffs Natural Resources by 139.2% in the second quarter. Chicago Equity Partners LLC now owns 779,095 shares of the mining company’s stock valued at $5,391,000 after buying an additional 453,385 shares during the period. Taylor Asset Management Inc. boosted its stake in shares of Cliffs Natural Resources by 136.8% in the second quarter. Taylor Asset Management Inc. now owns 595,200 shares of the mining company’s stock valued at $4,119,000 after buying an additional 343,900 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Cliffs Natural Resources by 9.6% in the second quarter. Principal Financial Group Inc. now owns 176,400 shares of the mining company’s stock valued at $1,220,000 after buying an additional 15,511 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in shares of Cliffs Natural Resources by 2.7% in the second quarter. Neuberger Berman Group LLC now owns 3,668,316 shares of the mining company’s stock valued at $25,385,000 after buying an additional 96,783 shares during the period. 66.58% of the stock is owned by institutional investors and hedge funds.

Cliffs Natural Resources (CLF) opened at 7.37 on Thursday. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 33.81 and a beta of 1.69. The company has a 50-day moving average price of $7.07 and a 200 day moving average price of $7.87. Cliffs Natural Resources has a 1-year low of $4.91 and a 1-year high of $12.37.

Cliffs Natural Resources (NYSE:CLF) last issued its earnings results on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ 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%. Cliffs Natural Resources’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 earnings per share. Equities analysts anticipate that Cliffs Natural Resources will post $0.90 earnings per share for the current year.

A number of analysts have commented on the company. BidaskClub upgraded Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. FBR & Co set a $10.00 price target on Cliffs Natural Resources and gave the stock a “buy” rating in a report on Saturday, June 17th. Clarkson Capital reissued a “neutral” rating on shares of Cliffs Natural Resources in a report on Thursday, July 27th. ValuEngine cut Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research raised Cliffs Natural Resources from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. 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 company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $8.50.

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Cliffs Natural Resources Company Profile

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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