Ameriprise Financial Inc. Takes Position in Cliffs Natural Resources Inc. (NYSE:CLF)

Ameriprise Financial Inc. acquired a new stake in Cliffs Natural Resources Inc. (NYSE:CLF) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 34,677 shares of the mining company’s stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. SFE Investment Counsel bought a new stake in shares of Cliffs Natural Resources during the first quarter valued at approximately $112,000. 361 Capital LLC acquired a new position in Cliffs Natural Resources during the first quarter valued at $129,000. Strs Ohio increased its position in Cliffs Natural Resources by 103.8% in the first quarter. Strs Ohio now owns 15,900 shares of the mining company’s stock valued at $130,000 after buying an additional 8,100 shares during the period. Wedbush Securities Inc. acquired a new position in Cliffs Natural Resources during the first quarter valued at $131,000. Finally, Sei Investments Co. increased its position in Cliffs Natural Resources by 28.8% in the first quarter. Sei Investments Co. now owns 17,819 shares of the mining company’s stock valued at $146,000 after buying an additional 3,980 shares during the period. 65.23% of the stock is currently owned by institutional investors.

Cliffs Natural Resources Inc. (NYSE CLF) traded up 3.35% during mid-day trading on Friday, reaching $7.40. 8,930,020 shares of the company traded hands. The stock has a 50 day moving average price of $7.33 and a 200-day moving average price of $7.75. Cliffs Natural Resources Inc. has a 52-week low of $4.91 and a 52-week high of $12.37. The company has a market capitalization of $2.19 billion, a P/E ratio of 33.94 and a beta of 1.69.

Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings data on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.08. Cliffs Natural Resources had a negative return on equity of 13.83% and a net margin of 2.44%. The company had revenue of $569.30 million during the quarter, compared to analysts’ expectations of $485.93 million. During the same period in the prior year, the business earned $0.07 earnings per share. Cliffs Natural Resources’s revenue for the quarter was up 14.7% compared to the same quarter last year. Analysts expect that Cliffs Natural Resources Inc. will post $0.94 EPS for the current fiscal year.

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Several equities analysts have weighed in on CLF shares. Jefferies Group LLC started coverage on shares of Cliffs Natural Resources in a report on Friday, July 7th. They set a “buy” rating and a $9.00 target price 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. 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. Finally, TheStreet upgraded shares of Cliffs Natural Resources from a “d+” rating to a “c” rating in a report on Monday, July 31st. Five investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $8.50.

In other Cliffs Natural Resources news, Chairman Lourenco Goncalves acquired 100,000 shares of Cliffs Natural Resources stock in a transaction dated Thursday, August 10th. The stock was bought at an average cost of $7.19 per share, with a total value of $719,000.00. Following the completion of the transaction, the chairman now owns 3,486,970 shares of the company’s stock, valued at $25,071,314.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by corporate 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.

Institutional Ownership by Quarter for Cliffs Natural Resources (NYSE:CLF)

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