Cliffs Natural Resources Inc. (NYSE:CLF) Holdings Cut by Mik Capital LLC

Mik Capital LLC decreased its holdings in Cliffs Natural Resources Inc. (NYSE:CLF) by 51.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,730,875 shares of the mining company’s stock after selling 1,821,663 shares during the period. Cliffs Natural Resources accounts for approximately 2.7% of Mik Capital LLC’s holdings, making the stock its 11th biggest holding. Mik Capital LLC owned 0.58% of Cliffs Natural Resources worth $11,978,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CLF. UBS Asset Management Americas Inc. increased its position in shares of Cliffs Natural Resources by 3.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 230,451 shares of the mining company’s stock worth $1,939,000 after acquiring an additional 7,715 shares during the period. Nationwide Fund Advisors increased its position in shares of Cliffs Natural Resources by 61.7% during the first quarter. Nationwide Fund Advisors now owns 284,773 shares of the mining company’s stock worth $2,338,000 after acquiring an additional 108,638 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Cliffs Natural Resources during the first quarter worth approximately $2,460,000. Janney Montgomery Scott LLC purchased a new position in shares of Cliffs Natural Resources during the first quarter worth approximately $476,000. Finally, Strs Ohio increased its position in shares of Cliffs Natural Resources by 103.8% during the first quarter. Strs Ohio now owns 15,900 shares of the mining company’s stock worth $130,000 after acquiring an additional 8,100 shares during the period. 58.30% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another site, it was illegally copied and republished in violation of U.S. & international copyright and trademark laws. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/09/13/mik-capital-llc-sells-1821663-shares-of-cliffs-natural-resources-inc-clf.html.

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

Cliffs Natural Resources Inc. (CLF) opened at 7.65 on Wednesday. The company’s 50 day moving average is $7.68 and its 200 day moving average is $7.44. Cliffs Natural Resources Inc. has a one year low of $4.91 and a one year high of $12.37. The stock has a market cap of $2.27 billion, a PE ratio of 35.09 and a beta of 1.70.

Cliffs Natural Resources (NYSE:CLF) last issued its earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. The company had revenue of $569.30 million for 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 firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. On average, equities research analysts expect that Cliffs Natural Resources Inc. will post $0.97 EPS for the current year.

Several equities analysts recently issued reports on CLF shares. ValuEngine lowered shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub raised shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Axiom Securities reissued a “sell” rating on shares of Cliffs Natural Resources in a report on Thursday, July 13th. Zacks Investment Research downgraded shares of Cliffs Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 28th. 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. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $8.31.

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.

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

Receive News & Ratings for Cliffs Natural Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cliffs Natural Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply