Teacher Retirement System of Texas raised its position in shares of Cliffs Natural Resources Inc. (NYSE:CLF) by 27.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,777 shares of the mining company’s stock after buying an additional 4,739 shares during the period. Teacher Retirement System of Texas’ holdings in Cliffs Natural Resources were worth $179,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Old Mutual Global Investors UK Ltd. acquired a new stake in Cliffs Natural Resources during the first quarter worth approximately $45,125,000. Wellington Management Group LLP increased its stake in shares of Cliffs Natural Resources by 574.0% in the first quarter. Wellington Management Group LLP now owns 4,366,103 shares of the mining company’s stock worth $35,846,000 after buying an additional 3,718,310 shares in the last quarter. Bridgewater Associates LP purchased a new stake in shares of Cliffs Natural Resources during the first quarter worth about $31,595,000. Neuberger Berman Group LLC increased its stake in shares of Cliffs Natural Resources by 0.7% in the first quarter. Neuberger Berman Group LLC now owns 3,571,533 shares of the mining company’s stock worth $29,322,000 after buying an additional 25,589 shares in the last quarter. Finally, Horseman Capital Management Ltd purchased a new stake in shares of Cliffs Natural Resources during the first quarter worth about $25,959,000. Institutional investors own 66.64% of the company’s stock.
Cliffs Natural Resources Inc. (CLF) traded down 3.27% during trading on Friday, hitting $7.10. 14,335,716 shares of the company were exchanged. The company has a 50-day moving average of $6.83 and a 200-day moving average of $7.94. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 41.52 and a beta of 1.66. Cliffs Natural Resources Inc. has a 12 month low of $4.91 and a 12 month high of $12.37. Cliffs Natural Resources also saw some unusual options trading on Wednesday. Investors bought 25,460 call options on the company. This is an increase of 109% compared to the typical volume of 12,169 call options.
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 analysts’ consensus estimates of $0.18 by $0.08. The company 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 5.79% and a net margin of 1.68%. Cliffs Natural Resources’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS. Analysts forecast that Cliffs Natural Resources Inc. will post $0.94 EPS for the current year.
CLF has been the subject of a number of recent analyst reports. FBR & Co set a $10.00 price target on shares of Cliffs Natural Resources and gave the stock a “buy” rating in a report on Saturday, June 17th. ValuEngine downgraded shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Jefferies Group LLC initiated coverage on shares of Cliffs Natural Resources in a report on Friday, July 7th. They set a “buy” rating and a $9.00 price target for the company. BidaskClub upgraded shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research upgraded shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a report on Thursday, April 20th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $8.50.
In related news, Chairman Lourenco Goncalves purchased 200,000 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was bought at an average cost of $6.31 per share, with a total value of $1,262,000.00. Following the purchase, the chairman now directly owns 2,855,296 shares in the company, valued at approximately $18,016,917.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Baldwin purchased 6,000 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was bought at an average cost of $6.32 per share, with a total value of $37,920.00. Following the completion of the purchase, the director now owns 87,991 shares in the company, valued at $556,103.12. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 212,750 shares of company stock valued at $1,344,358. 0.46% of the stock is currently owned by company insiders.
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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