Cliffs Natural Resources Inc. (NYSE:CLF) saw unusually large options trading on Friday. Traders purchased 18,120 call options on the stock. This is an increase of approximately 129% compared to the average daily volume of 7,925 call options.

In other Cliffs Natural Resources news, Chairman Lourenco Goncalves bought 100,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was bought at an average price of $7.11 per share, with a total value of $711,000.00. Following the completion of the purchase, the chairman now directly owns 3,586,970 shares in the company, valued at $25,503,356.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Cliffs Natural Resources by 24.7% during the 2nd quarter. Vanguard Group Inc. now owns 31,963,836 shares of the mining company’s stock worth $221,190,000 after buying an additional 6,321,205 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Cliffs Natural Resources by 1.6% during the 2nd quarter. BlackRock Inc. now owns 18,860,269 shares of the mining company’s stock worth $130,512,000 after buying an additional 306,081 shares during the last quarter. State Street Corp increased its holdings in shares of Cliffs Natural Resources by 6.5% during the 2nd quarter. State Street Corp now owns 10,720,937 shares of the mining company’s stock worth $74,189,000 after buying an additional 653,261 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cliffs Natural Resources by 20.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,297,769 shares of the mining company’s stock worth $43,581,000 after buying an additional 1,056,056 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Cliffs Natural Resources by 16.8% during the 2nd quarter. Northern Trust Corp now owns 4,977,719 shares of the mining company’s stock worth $34,446,000 after buying an additional 717,021 shares during the last quarter. Institutional investors and hedge funds own 58.28% of the company’s stock.

Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings data on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS.

Several equities research analysts have issued reports on CLF shares. ValuEngine cut Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. FBR & Co set a $10.00 target price on Cliffs Natural Resources and gave the stock a “buy” rating in a research note on Saturday, June 17th. BidaskClub raised Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Zacks Investment Research cut Cliffs Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 28th. Finally, Cowen and Company reissued a “market perform” rating and set a $7.00 target price on shares of Cliffs Natural Resources in a research note on Wednesday, June 28th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $8.31.

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Cliffs Natural Resources Company 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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