Cliffs Natural Resources Inc. (CLF) Shares Bought by Teachers Advisors LLC
Teachers Advisors LLC raised its holdings in Cliffs Natural Resources Inc. (NYSE:CLF) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 542,655 shares of the mining company’s stock after acquiring an additional 9,316 shares during the quarter. Teachers Advisors LLC owned approximately 0.18% of Cliffs Natural Resources worth $3,755,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in CLF. Great West Life Assurance Co. Can grew its position in Cliffs Natural Resources by 58.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 28,957 shares of the mining company’s stock valued at $237,000 after acquiring an additional 10,677 shares during the last quarter. Bank of New York Mellon Corp grew its position in Cliffs Natural Resources by 17.8% in the 1st quarter. Bank of New York Mellon Corp now owns 2,390,545 shares of the mining company’s stock valued at $19,627,000 after acquiring an additional 362,079 shares during the last quarter. Karp Capital Management Corp bought a new position in Cliffs Natural Resources in the 1st quarter valued at $172,000. Sei Investments Co. grew its position in Cliffs Natural Resources by 28.8% in the 1st quarter. Sei Investments Co. now owns 17,819 shares of the mining company’s stock valued at $146,000 after acquiring an additional 3,980 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new position in Cliffs Natural Resources in the 1st quarter valued at $285,000. 58.28% of the stock is currently owned by institutional investors.
Several equities analysts have commented on CLF shares. ValuEngine raised Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC initiated coverage on Cliffs Natural Resources in a report on Friday, July 7th. They issued a “buy” rating and a $9.00 target price for the company. BidaskClub upgraded Cliffs Natural Resources from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. FBR & Co set a $10.00 target price on Cliffs Natural Resources and gave the stock a “buy” rating in a report on Saturday, June 17th. Finally, TheStreet upgraded Cliffs Natural Resources from a “d+” rating to a “c” rating in a report on Monday, July 31st. Three investment 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. Cliffs Natural Resources has a consensus rating of “Hold” and a consensus price target of $9.29.
In other news, Chairman Lourenco Goncalves bought 100,000 shares of Cliffs Natural Resources stock in a transaction dated Friday, September 15th. The stock was acquired at an average cost of $7.11 per share, with a total value of $711,000.00. Following the acquisition, the chairman now owns 3,586,970 shares of the company’s stock, valued at $25,503,356.70. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.
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Shares of Cliffs Natural Resources Inc. (NYSE CLF) opened at 7.57 on Friday. The stock has a market capitalization of $2.24 billion, a PE ratio of 34.72 and a beta of 1.65. The firm has a 50-day moving average price of $7.47 and a 200-day moving average price of $7.08. Cliffs Natural Resources Inc. has a 1-year low of $4.91 and a 1-year high of $12.37.
Cliffs Natural Resources (NYSE:CLF) last posted its earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $569.30 million during the quarter, compared to the consensus estimate of $485.93 million. During the same period in the previous year, the business earned $0.07 EPS. The business’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities research analysts forecast that Cliffs Natural Resources Inc. will post $0.88 earnings per share for the current year.
Cliffs Natural Resources 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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