SFE Investment Counsel raised its position in Cliffs Natural Resources Inc. (NYSE:CLF) by 1,482.1% during the second quarter, Holdings Channel reports. The fund owned 214,930 shares of the mining company’s stock after buying an additional 201,345 shares during the period. SFE Investment Counsel’s holdings in Cliffs Natural Resources were worth $1,487,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Cliffs Natural Resources by 23,956.0% in the first quarter. BlackRock Inc. now owns 18,554,188 shares of the mining company’s stock valued at $152,330,000 after buying an additional 18,477,059 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Cliffs Natural Resources by 53.3% in the first quarter. Vanguard Group Inc. now owns 25,642,631 shares of the mining company’s stock valued at $210,526,000 after buying an additional 8,918,169 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Cliffs Natural Resources during the first quarter valued at approximately $45,125,000. Bridgewater Associates LP purchased a new stake in shares of Cliffs Natural Resources during the first quarter valued at approximately $31,595,000. Finally, 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 valued at $35,846,000 after buying an additional 3,718,310 shares in the last quarter. Institutional investors own 65.23% of the company’s stock.

Cliffs Natural Resources Inc. (NYSE CLF) opened at 7.24 on Tuesday. Cliffs Natural Resources Inc. has a 12 month low of $4.91 and a 12 month high of $12.37. The company has a market cap of $2.15 billion, a PE ratio of 33.21 and a beta of 1.69. The company has a 50-day moving average of $7.28 and a 200 day moving average of $7.78.

Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings data on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.08. The business had revenue of $569.30 million for the quarter, compared to analysts’ expectations of $485.93 million. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, equities analysts forecast that Cliffs Natural Resources Inc. will post $0.91 earnings per share for the current fiscal year.

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CLF has been the subject of several research reports. Zacks Investment Research upgraded Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research note on Thursday, April 20th. FBR & Co upgraded Cliffs Natural Resources from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $11.00 to $10.00 in a research note on Friday, April 28th. ValuEngine upgraded Cliffs Natural Resources from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 11th. TheStreet downgraded Cliffs Natural Resources from a “c” rating to a “d+” rating in a research note on Thursday, May 4th. Finally, Cowen and Company restated a “market perform” rating and issued a $7.00 target price on shares of Cliffs Natural Resources in a research note on Wednesday, June 28th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company 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 the business’s stock in a transaction on Thursday, August 10th. The shares were acquired at an average price of $7.19 per share, for a total transaction of $719,000.00. Following the completion of the acquisition, the chairman now owns 3,486,970 shares in the company, valued at $25,071,314.30. The acquisition was disclosed in a legal filing with the SEC, 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.

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

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