D.A. Davidson & CO. Raises Position in Cliffs Natural Resources Inc. (CLF)

D.A. Davidson & CO. lifted its stake in Cliffs Natural Resources Inc. (NYSE:CLF) by 486.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,597 shares of the mining company’s stock after purchasing an additional 15,428 shares during the period. D.A. Davidson & CO.’s holdings in Cliffs Natural Resources were worth $128,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Alps Advisors Inc. increased its holdings 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 valued at $365,000 after purchasing an additional 137 shares in the last quarter. Nuveen Asset Management LLC increased its holdings 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 purchasing an additional 164 shares in the last quarter. Teacher Retirement System of Texas increased its holdings 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 valued at $156,000 after purchasing an additional 824 shares in the last quarter. Amalgamated Bank increased its holdings 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 valued at $246,000 after purchasing an additional 2,392 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Cliffs Natural Resources by 8.9% in the second quarter. Prudential Financial Inc. now owns 30,622 shares of the mining company’s stock valued at $212,000 after purchasing an additional 2,490 shares in the last quarter. 58.28% of the stock is owned by institutional investors and hedge funds.

In other Cliffs Natural Resources news, Chairman Lourenco Goncalves purchased 100,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was purchased at an average cost of $7.19 per share, for a total transaction of $719,000.00. Following the transaction, the chairman now owns 3,486,970 shares in the company, valued at approximately $25,071,314.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. FBR & Co set a $10.00 price target on shares of Cliffs Natural Resources and gave the company a “buy” rating in a report on Monday, October 2nd. KeyCorp reissued a “hold” rating on shares of Cliffs Natural Resources in a report on Tuesday, September 19th. Jefferies Group LLC reissued a “buy” rating on shares of Cliffs Natural Resources in a report on Monday, September 18th. Finally, ValuEngine lowered shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $9.29.

Shares of Cliffs Natural Resources Inc. (NYSE CLF) opened at 6.81 on Wednesday. The firm’s 50-day moving average is $7.53 and its 200-day moving average is $7.10. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 31.24 and a beta of 1.65. 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 issued its quarterly earnings data on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. The business had revenue of $569.30 million during the quarter, compared to the consensus estimate of $485.93 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. Analysts predict that Cliffs Natural Resources Inc. will post $0.96 earnings per share for the current fiscal year.

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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.

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

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