Cliffs Natural Resources Inc. (NYSE:CLF) announced its earnings results on Thursday. The mining company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.08, MarketWatch Earnings reports. The business had revenue of $569.30 million for the quarter, compared to analyst estimates of $485.93 million. Cliffs Natural Resources had a negative return on equity of 5.79% and a net margin of 1.68%. Cliffs Natural Resources’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 EPS.

Shares of Cliffs Natural Resources (NYSE CLF) traded down 5.05% on Thursday, hitting $7.34. The stock had a trading volume of 29,274,231 shares. The company has a 50-day moving average of $6.79 and a 200 day moving average of $7.94. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 42.92 and a beta of 1.66. Cliffs Natural Resources has a 52 week low of $4.91 and a 52 week high of $12.37. Cliffs Natural Resources also saw some unusual options trading on Monday. Stock investors bought 1,191 put options on the company. This is an increase of 121% compared to the typical volume of 538 put options.

In other Cliffs Natural Resources news, Chairman Lourenco Goncalves purchased 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was bought at an average cost of $6.31 per share, with a total value of $1,262,000.00. Following the completion of the transaction, the chairman now owns 2,855,296 shares of the company’s stock, valued at approximately $18,016,917.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John T. Baldwin purchased 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were acquired at an average cost of $6.32 per share, with a total value of $37,920.00. Following the completion of the transaction, the director now directly owns 87,991 shares of the company’s stock, valued at approximately $556,103.12. The disclosure for this purchase can be found here. Insiders have purchased 215,250 shares of company stock valued at $1,361,283 over the last ninety days. 0.46% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. Bowling Portfolio Management LLC purchased a new position in shares of Cliffs Natural Resources during the second quarter valued at $1,605,000. Locust Wood Capital Advisers LLC raised its position in shares of Cliffs Natural Resources by 18.4% in the second quarter. Locust Wood Capital Advisers LLC now owns 467,995 shares of the mining company’s stock valued at $3,239,000 after buying an additional 72,795 shares during the period. Parkwood LLC raised its position in shares of Cliffs Natural Resources by 73.6% in the second quarter. Parkwood LLC now owns 114,440 shares of the mining company’s stock valued at $792,000 after buying an additional 48,504 shares during the period. ING Groep NV purchased a new position in shares of Cliffs Natural Resources during the second quarter valued at $152,000. Finally, Wellington Shields Capital Management LLC raised its position in shares of Cliffs Natural Resources by 100.0% in the second quarter. Wellington Shields Capital Management LLC now owns 50,000 shares of the mining company’s stock valued at $346,000 after buying an additional 25,000 shares during the period. 66.64% of the stock is owned by institutional investors.

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A number of research analysts have weighed in on the company. ValuEngine downgraded Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub downgraded Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research downgraded Cliffs Natural Resources from a “hold” rating to a “sell” rating in a research note on Thursday. FBR & Co set a $10.00 price target on Cliffs Natural Resources and gave the company a “buy” rating in a research note on Saturday, June 17th. Finally, Axiom Securities restated a “sell” rating on shares of Cliffs Natural Resources in a research note on Thursday, July 13th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Cliffs Natural Resources has an average rating of “Hold” and a consensus price target of $8.50.

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.

Earnings History for Cliffs Natural Resources (NYSE:CLF)

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