Lourenco Goncalves Buys 100,000 Shares of Cliffs Natural Resources Inc. (CLF) Stock

Cliffs Natural Resources Inc. (NYSE:CLF) Chairman Lourenco Goncalves acquired 100,000 shares of Cliffs Natural Resources stock in a transaction that occurred on Friday, September 15th. The shares were purchased at an average price of $7.11 per share, for a total transaction of $711,000.00. Following the transaction, the chairman now directly owns 3,586,970 shares in the company, valued at $25,503,356.70. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Lourenco Goncalves also recently made the following trade(s):

  • On Thursday, August 10th, Lourenco Goncalves acquired 100,000 shares of Cliffs Natural Resources stock. The shares were purchased at an average price of $7.19 per share, for a total transaction of $719,000.00.

Cliffs Natural Resources Inc. (NYSE CLF) opened at 7.27 on Wednesday. The stock has a 50 day moving average price of $7.65 and a 200-day moving average price of $7.30. Cliffs Natural Resources Inc. has a 52 week low of $4.91 and a 52 week high of $12.37. The firm has a market capitalization of $2.16 billion, a P/E ratio of 33.35 and a beta of 1.70. Cliffs Natural Resources also saw unusually large options trading on Monday. Traders purchased 1,191 put options on the stock. This is an increase of 121% compared to the average volume of 538 put options.

Cliffs Natural Resources (NYSE:CLF) last posted its earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The company had revenue of $569.30 million for 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 quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share. Analysts anticipate that Cliffs Natural Resources Inc. will post $0.97 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This report was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.chaffeybreeze.com/2017/09/20/lourenco-goncalves-buys-100000-shares-of-cliffs-natural-resources-inc-clf-stock.html.

A number of equities research analysts recently weighed in 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 company a “buy” rating in a research report on Saturday, June 17th. Clarkson Capital reiterated a “neutral” rating on shares of Cliffs Natural Resources in a research report on Thursday, July 27th. KeyCorp reiterated a “hold” rating on shares of Cliffs Natural Resources in a research report on Tuesday. Finally, ValuEngine lowered Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Five analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Cliffs Natural Resources has a consensus rating of “Hold” and a consensus price target of $8.31.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. grew its stake in shares of Cliffs Natural Resources by 0.3% in the second quarter. Alps Advisors Inc. now owns 52,796 shares of the mining company’s stock worth $365,000 after purchasing an additional 137 shares during the last quarter. Nuveen Asset Management LLC grew its stake 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 worth $115,000 after purchasing an additional 164 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Cliffs Natural Resources by 3.8% in the second quarter. Teacher Retirement System of Texas now owns 22,601 shares of the mining company’s stock worth $156,000 after purchasing an additional 824 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Cliffs Natural Resources by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 26,167 shares of the mining company’s stock worth $181,000 after purchasing an additional 2,016 shares during the last quarter. Finally, Amalgamated Bank grew its stake in shares of Cliffs Natural Resources by 7.2% in the second quarter. Amalgamated Bank now owns 35,530 shares of the mining company’s stock worth $246,000 after purchasing an additional 2,392 shares during the last quarter. 58.28% of the stock is currently owned by institutional investors.

About Cliffs Natural Resources

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.

Insider Buying and Selling by Quarter for Cliffs Natural Resources (NYSE:CLF)

Receive News & Ratings for Cliffs Natural Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cliffs Natural Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply