Cliffs Natural Resources Inc. (NYSE:CLF) saw unusually large options trading activity on Monday. Stock investors bought 1,191 put options on the stock. This represents an increase of 121% compared to the typical daily volume of 538 put options.

Shares of Cliffs Natural Resources (CLF) opened at 7.36 on Thursday. Cliffs Natural Resources has a 52-week low of $4.91 and a 52-week high of $12.37. The company has a 50 day moving average of $7.57 and a 200 day moving average of $7.15. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 33.76 and a beta of 1.65.

Cliffs Natural Resources (NYSE:CLF) last announced its earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $485.93 million. During the same quarter last year, the business posted $0.07 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts predict that Cliffs Natural Resources will post $0.96 EPS for the current fiscal year.

Several brokerages have commented on CLF. Zacks Investment Research lowered shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday. FBR & Co set a $10.00 target price on shares of Cliffs Natural Resources and gave the stock a “buy” rating in a research report on Monday. KeyCorp restated a “hold” rating on shares of Cliffs Natural Resources in a research report on Tuesday, September 19th. Jefferies Group LLC restated a “buy” rating on shares of Cliffs Natural Resources in a research report on Monday, September 18th. Finally, ValuEngine lowered shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Three investment 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. Cliffs Natural Resources presently has a consensus rating of “Hold” and a consensus price target of $9.29.

In related news, Chairman Lourenco Goncalves bought 100,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $7.19 per share, for a total transaction of $719,000.00. Following the transaction, the chairman now owns 3,486,970 shares of the company’s stock, valued at $25,071,314.30. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Nuveen Asset Management LLC boosted its position in shares of Cliffs Natural Resources by 1.2% in the 1st quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock valued at $115,000 after purchasing an additional 164 shares during the period. Invictus RG acquired a new position in shares of Cliffs Natural Resources in the 1st quarter valued at $121,000. Comerica Bank boosted its position in shares of Cliffs Natural Resources by 49.5% in the 2nd quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock valued at $116,000 after purchasing an additional 5,129 shares during the period. Strs Ohio boosted its position in shares of Cliffs Natural Resources by 103.8% in the 1st 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. Finally, Point72 Asia Hong Kong Ltd boosted its position in shares of Cliffs Natural Resources by 2,509.9% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 16,103 shares of the mining company’s stock valued at $132,000 after purchasing an additional 15,486 shares during the period. 58.28% of the stock is owned by institutional investors and hedge funds.

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Cliffs Natural Resources Company 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.

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