Cetera Investment Advisers Takes Position in Cliffs Natural Resources Inc. (CLF)

Cetera Investment Advisers purchased a new stake in shares of Cliffs Natural Resources Inc. (NYSE:CLF) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 241,137 shares of the mining company’s stock, valued at approximately $1,664,000. Cetera Investment Advisers owned 0.08% of Cliffs Natural Resources at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC boosted its holdings in Cliffs Natural Resources by 1.2% during the first quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock valued at $115,000 after acquiring an additional 164 shares during the period. Invictus RG bought a new stake in Cliffs Natural Resources during the first quarter valued at about $121,000. Comerica Bank boosted its holdings in Cliffs Natural Resources by 49.5% during the second quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock valued at $116,000 after acquiring an additional 5,129 shares during the period. Point72 Asia Hong Kong Ltd boosted its holdings in Cliffs Natural Resources by 2,509.9% during the first quarter. Point72 Asia Hong Kong Ltd now owns 16,103 shares of the mining company’s stock valued at $132,000 after acquiring an additional 15,486 shares during the period. Finally, ARP Americas LLC boosted its holdings in Cliffs Natural Resources by 72.5% during the second quarter. ARP Americas LLC now owns 17,600 shares of the mining company’s stock valued at $122,000 after acquiring an additional 7,400 shares during the period. Institutional investors own 58.28% of the company’s stock.

A number of research firms have issued reports on CLF. ValuEngine cut shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. FBR & Co restated a “buy” rating and set a $10.00 price target on shares of Cliffs Natural Resources in a report on Wednesday, September 6th. Axiom Securities restated a “sell” rating on shares of Cliffs Natural Resources in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Finally, BidaskClub cut shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.29.

Shares of Cliffs Natural Resources Inc. (CLF) traded up 10.67% on Friday, hitting $7.57. 24,378,677 shares of the stock were exchanged. The firm has a market capitalization of $2.24 billion, a PE ratio of 34.72 and a beta of 1.65. Cliffs Natural Resources Inc. has a one year low of $4.91 and a one year high of $12.37. The company has a 50-day moving average price of $7.47 and a 200-day moving average price of $7.08.

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, topping the Zacks’ 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 analyst estimates of $485.93 million. During the same quarter in the previous year, the firm earned $0.07 EPS. Cliffs Natural Resources’s revenue was up 14.7% on a year-over-year basis. Equities research analysts expect that Cliffs Natural Resources Inc. will post $0.88 earnings per share for the current year.

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

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Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC boosted its holdings in Cliffs Natural Resources by 1.2% during the first quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock valued at $115,000 after acquiring an additional 164 shares during the period. Invictus RG bought a new stake in Cliffs Natural Resources during the first quarter valued at about $121,000. Comerica Bank boosted its holdings in Cliffs Natural Resources by 49.5% during the second quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock valued at $116,000 after acquiring an additional 5,129 shares during the period. Point72 Asia Hong Kong Ltd boosted its holdings in Cliffs Natural Resources by 2,509.9% during the first quarter. Point72 Asia Hong Kong Ltd now owns 16,103 shares of the mining company’s stock valued at $132,000 after acquiring an additional 15,486 shares during the period. Finally, ARP Americas LLC boosted its holdings in Cliffs Natural Resources by 72.5% during the second quarter. ARP Americas LLC now owns 17,600 shares of the mining company’s stock valued at $122,000 after acquiring an additional 7,400 shares during the period. Institutional investors own 58.28% of the company’s stock.

A number of research firms have issued reports on CLF. ValuEngine cut shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. FBR & Co restated a “buy” rating and set a $10.00 price target on shares of Cliffs Natural Resources in a report on Wednesday, September 6th. Axiom Securities restated a “sell” rating on shares of Cliffs Natural Resources in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Finally, BidaskClub cut shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.29.

Shares of Cliffs Natural Resources Inc. (CLF) traded up 10.67% on Friday, hitting $7.57. 24,378,677 shares of the stock were exchanged. The firm has a market capitalization of $2.24 billion, a PE ratio of 34.72 and a beta of 1.65. Cliffs Natural Resources Inc. has a one year low of $4.91 and a one year high of $12.37. The company has a 50-day moving average price of $7.47 and a 200-day moving average price of $7.08.

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, topping the Zacks’ 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 analyst estimates of $485.93 million. During the same quarter in the previous year, the firm earned $0.07 EPS. Cliffs Natural Resources’s revenue was up 14.7% on a year-over-year basis. Equities research analysts expect that Cliffs Natural Resources Inc. will post $0.88 earnings per share for the current year.

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

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About Cliffs Natural Resources

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)

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