Cliffs Natural Resources Inc. (NYSE:CLF) saw some unusual options trading on Monday. Stock traders acquired 1,191 put options on the stock. This represents an increase of approximately 121% compared to the typical daily volume of 538 put options.

Several analysts recently weighed in on the company. KeyCorp restated a “hold” rating on shares of Cliffs Natural Resources in a report on Tuesday. Jefferies Group LLC restated a “buy” rating on shares of Cliffs Natural Resources in a report on Monday. 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. ValuEngine lowered Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, BidaskClub lowered Cliffs Natural Resources from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Cliffs Natural Resources has an average rating of “Hold” and an average target price of $8.31.

Cliffs Natural Resources (NYSE CLF) opened at 7.22 on Thursday. The company has a market cap of $2.14 billion, a P/E ratio of 33.12 and a beta of 1.70. Cliffs Natural Resources has a 12 month low of $4.91 and a 12 month high of $12.37. The firm has a 50-day moving average price of $7.65 and a 200 day moving average price of $7.30.

Cliffs Natural Resources (NYSE:CLF) last posted its earnings results on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, beating 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 company had revenue of $569.30 million for the quarter, compared to the consensus estimate of $485.93 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities research analysts predict that Cliffs Natural Resources will post $0.97 EPS for the current year.

In related news, Chairman Lourenco Goncalves purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were bought at an average price of $7.11 per share, for a total transaction of $711,000.00. Following the acquisition, the chairman now owns 3,586,970 shares of the company’s stock, valued at approximately $25,503,356.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.46% of the company’s stock.

A number of large investors have recently bought and sold shares of CLF. Nationwide Fund Advisors raised its position in Cliffs Natural Resources by 61.7% in the first quarter. Nationwide Fund Advisors now owns 284,773 shares of the mining company’s stock valued at $2,338,000 after purchasing an additional 108,638 shares during the period. Strs Ohio raised its position in Cliffs Natural Resources by 103.8% in the first quarter. Strs Ohio now owns 15,900 shares of the mining company’s stock valued at $130,000 after purchasing an additional 8,100 shares during the period. Russell Investments Group Ltd. raised its position in Cliffs Natural Resources by 784.5% in the first quarter. Russell Investments Group Ltd. now owns 452,176 shares of the mining company’s stock valued at $3,713,000 after purchasing an additional 401,056 shares during the period. Great West Life Assurance Co. Can raised its position in Cliffs Natural Resources by 58.4% in the first quarter. Great West Life Assurance Co. Can now owns 28,957 shares of the mining company’s stock valued at $237,000 after purchasing an additional 10,677 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in Cliffs Natural Resources by 31.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 161,183 shares of the mining company’s stock valued at $1,323,000 after purchasing an additional 38,852 shares during the period. Institutional investors own 58.28% of the company’s stock.

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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.

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