IFP Advisors Inc Increases Stake in Cliffs Natural Resources Inc. (CLF)
IFP Advisors Inc boosted its stake in Cliffs Natural Resources Inc. (NYSE:CLF) by 20.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,373 shares of the mining company’s stock after buying an additional 7,107 shares during the period. IFP Advisors Inc’s holdings in Cliffs Natural Resources were worth $293,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CLF. SFE Investment Counsel purchased a new position in Cliffs Natural Resources during the first quarter valued at $112,000. Quantum Capital Management bought a new position in shares of Cliffs Natural Resources during the first quarter valued at approximately $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 in the last quarter. Invictus RG bought a new position in shares of Cliffs Natural Resources during the first quarter valued at approximately $121,000. Finally, ARP Americas LLC increased its position in shares of Cliffs Natural Resources by 72.5% in the second quarter. ARP Americas LLC now owns 17,600 shares of the mining company’s stock valued at $122,000 after buying an additional 7,400 shares in the last quarter. Institutional investors own 65.23% of the company’s stock.
Shares of Cliffs Natural Resources Inc. (NYSE CLF) opened at 7.16 on Friday. The company has a market cap of $2.12 billion, a P/E ratio of 32.84 and a beta of 1.69. The stock’s 50 day moving average price is $7.32 and its 200-day moving average price is $7.76. Cliffs Natural Resources Inc. has a 12 month low of $4.91 and a 12 month high of $12.37.
Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings data on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. The firm had revenue of $569.30 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. Equities research analysts expect that Cliffs Natural Resources Inc. will post $0.91 earnings per share for the current year.
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CLF has been the subject of several analyst reports. Zacks Investment Research upgraded Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research note on Thursday, April 20th. FBR & Co upgraded Cliffs Natural Resources from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $11.00 to $10.00 in a research note on Friday, April 28th. TheStreet downgraded Cliffs Natural Resources from a “c” rating to a “d+” rating in a research note on Thursday, May 4th. ValuEngine upgraded Cliffs Natural Resources from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 11th. Finally, BidaskClub upgraded Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Five research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $8.50.
In other Cliffs Natural Resources news, Chairman Lourenco Goncalves acquired 100,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was purchased at an average price of $7.19 per share, with a total value of $719,000.00. Following the completion of the purchase, 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 filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.
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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