Cliffs Natural Resources Target of Unusually Large Options Trading (NYSE:CLF)
Cliffs Natural Resources Inc. (NYSE:CLF) saw unusually large options trading activity on Monday. Stock investors purchased 1,191 put options on the stock. This represents an increase of approximately 121% compared to the average daily volume of 538 put options.
Cliffs Natural Resources (NYSE CLF) opened at 7.73 on Thursday. Cliffs Natural Resources has a one year low of $4.91 and a one year high of $12.37. The firm 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 $2.29 billion, a P/E ratio of 29.73 and a beta of 1.66.
Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings data on Thursday, April 27th. The mining company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.27. The firm had revenue of $461.60 million during the quarter, compared to analysts’ expectations of $412.71 million. Cliffs Natural Resources had a negative return on equity of 5.79% and a net margin of 1.68%. The business’s revenue for the quarter was up 51.1% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. On average, equities analysts forecast that Cliffs Natural Resources will post $0.87 EPS for the current fiscal year.
Several research analysts recently commented on CLF shares. BidaskClub raised shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. FBR & Co raised shares of Cliffs Natural Resources from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $11.00 to $10.00 in a report on Friday, April 28th. Zacks Investment Research downgraded shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, April 21st. ValuEngine downgraded shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Axiom Securities reaffirmed a “sell” rating on shares of Cliffs Natural Resources in a report on Thursday, July 13th. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $8.50.
In related news, Director John T. Baldwin purchased 6,000 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was bought at an average price of $6.32 per share, for a total transaction of $37,920.00. Following the purchase, the director now directly owns 87,991 shares in the company, valued at approximately $556,103.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Lourenco Goncalves purchased 200,000 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were bought at an average price of $6.31 per share, with a total value of $1,262,000.00. Following the purchase, the chairman now owns 2,855,296 shares in the company, valued at $18,016,917.76. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 215,250 shares of company stock valued at $1,361,283. 0.46% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of CLF. SFE Investment Counsel bought a new position in shares of Cliffs Natural Resources during the first quarter worth $112,000. Nuveen Asset Management LLC raised its position in shares of Cliffs Natural Resources by 1.2% in the first quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock worth $115,000 after buying an additional 164 shares in the last quarter. Invictus RG bought a new position in shares of Cliffs Natural Resources during the first quarter worth $121,000. 361 Capital LLC bought a new position in shares of Cliffs Natural Resources during the first quarter worth $129,000. Finally, Strs Ohio raised its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 66.64% of the company’s stock.
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.
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