Cliffs Natural Resources Inc. (CLF) Holdings Cut by First Trust Advisors LP
First Trust Advisors LP lessened its position in Cliffs Natural Resources Inc. (NYSE:CLF) by 35.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 187,619 shares of the mining company’s stock after selling 104,733 shares during the period. First Trust Advisors LP owned 0.06% of Cliffs Natural Resources worth $1,298,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Cliffs Natural Resources by 53.3% in the 1st quarter. Vanguard Group Inc. now owns 25,642,631 shares of the mining company’s stock worth $210,526,000 after acquiring an additional 8,918,169 shares during the last quarter. BlackRock Inc. grew its holdings in Cliffs Natural Resources by 23,956.0% in the 1st quarter. BlackRock Inc. now owns 18,554,188 shares of the mining company’s stock worth $152,330,000 after acquiring an additional 18,477,059 shares during the last quarter. State Street Corp grew its holdings in Cliffs Natural Resources by 25.7% in the 1st quarter. State Street Corp now owns 10,067,676 shares of the mining company’s stock worth $82,654,000 after acquiring an additional 2,059,034 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cliffs Natural Resources by 93.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,241,713 shares of the mining company’s stock worth $43,034,000 after acquiring an additional 2,535,927 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Cliffs Natural Resources by 574.0% in the 1st quarter. Wellington Management Group LLP now owns 4,366,103 shares of the mining company’s stock worth $35,846,000 after acquiring an additional 3,718,310 shares during the last quarter. 58.28% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman Lourenco Goncalves purchased 100,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were purchased at an average cost of $7.19 per share, for a total transaction of $719,000.00. Following the completion of the acquisition, the chairman now owns 3,486,970 shares in the company, valued at approximately $25,071,314.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.
A number of equities research analysts have issued reports on CLF shares. Zacks Investment Research raised shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. FBR & Co reissued a “buy” rating and issued a $10.00 price target on shares of Cliffs Natural Resources in a report on Wednesday, September 6th. Cowen and Company reissued a “market perform” rating and issued a $7.00 price target on shares of Cliffs Natural Resources in a report on Wednesday, June 28th. BidaskClub raised shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Axiom Securities reissued a “sell” rating on shares of Cliffs Natural Resources in a report on Tuesday, July 25th. Five research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $8.31.
Shares of Cliffs Natural Resources Inc. (CLF) opened at 7.13 on Monday. Cliffs Natural Resources Inc. has a 52 week low of $4.91 and a 52 week high of $12.37. The stock’s 50 day moving average is $7.65 and its 200-day moving average is $7.39. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 32.71 and a beta of 1.70.
Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings results on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.08. The firm had revenue of $569.30 million for the quarter, compared to analysts’ expectations of $485.93 million. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. On average, equities analysts anticipate that Cliffs Natural Resources Inc. will post $0.97 earnings per share for the current year.
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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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