Girard Partners LTD. held its position in Cliffs Natural Resources Inc. (NYSE:CLF) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,733 shares of the mining company’s stock at the end of the second quarter. Girard Partners LTD.’s holdings in Cliffs Natural Resources were worth $137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CLF. UBS Asset Management Americas Inc. increased its position in Cliffs Natural Resources by 3.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 230,451 shares of the mining company’s stock worth $1,939,000 after buying an additional 7,715 shares during the period. Nationwide Fund Advisors increased its position in Cliffs Natural Resources by 61.7% in the first quarter. Nationwide Fund Advisors now owns 284,773 shares of the mining company’s stock worth $2,338,000 after buying an additional 108,638 shares during the period. Acadian Asset Management LLC acquired a new position in Cliffs Natural Resources during the first quarter worth $2,460,000. Janney Montgomery Scott LLC acquired a new position in Cliffs Natural Resources during the first quarter worth $476,000. Finally, 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 worth $130,000 after buying an additional 8,100 shares during the period. 58.30% of the stock is owned by institutional investors and hedge funds.

Shares of Cliffs Natural Resources Inc. (CLF) opened at 8.13 on Wednesday. Cliffs Natural Resources Inc. has a 1-year low of $4.91 and a 1-year high of $12.37. The stock’s 50 day moving average is $7.42 and its 200-day moving average is $7.70. The firm has a market cap of $2.41 billion, a PE ratio of 37.29 and a beta of 1.69.

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

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CLF has been the subject of a number of analyst reports. TheStreet downgraded shares of Cliffs Natural Resources from a “c” rating to a “d+” rating in a research report on Thursday, May 4th. ValuEngine raised shares of Cliffs Natural Resources from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 11th. FBR & Co set a $10.00 price objective on shares of Cliffs Natural Resources and gave the company a “buy” rating in a research report on Saturday, June 17th. BidaskClub raised shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research downgraded shares of Cliffs Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 28th. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $8.31.

In other news, Chairman Lourenco Goncalves purchased 100,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $7.19 per share, for a total transaction of $719,000.00. Following the purchase, the chairman now directly owns 3,486,970 shares in the company, valued at approximately $25,071,314.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

About Cliffs Natural Resources

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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