AMP Capital Investors Ltd increased its position in shares of Cliffs Natural Resources Inc. (NYSE:CLF) by 146.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,272 shares of the mining company’s stock after buying an additional 68,472 shares during the period. AMP Capital Investors Ltd’s holdings in Cliffs Natural Resources were worth $675,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. LMR Partners LLP bought a new position in Cliffs Natural Resources during the second quarter worth approximately $114,000. Ausdal Financial Partners Inc. increased its position in Cliffs Natural Resources by 11.5% in the second quarter. Ausdal Financial Partners Inc. now owns 28,031 shares of the mining company’s stock worth $159,000 after buying an additional 2,900 shares during the period. Phoenix Investment Adviser LLC bought a new position in Cliffs Natural Resources during the second quarter worth approximately $1,446,000. Airain ltd bought a new position in Cliffs Natural Resources during the second quarter worth approximately $1,189,000. Finally, Neuberger Berman Group LLC increased its position in Cliffs Natural Resources by 2.0% in the second quarter. Neuberger Berman Group LLC now owns 2,649,002 shares of the mining company’s stock worth $15,020,000 after buying an additional 52,004 shares during the period. 57.81% of the stock is owned by institutional investors and hedge funds.
Cliffs Natural Resources Inc. (NYSE:CLF) traded down 1.93% during trading on Friday, hitting $11.15. The company had a trading volume of 116,059,464 shares. Cliffs Natural Resources Inc. has a 1-year low of $1.72 and a 1-year high of $11.70. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 56.89 and a beta of 1.63. The company’s 50 day moving average price is $9.10 and its 200-day moving average price is $7.49.
Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings results on Thursday, February 9th. The mining company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.19. The business earned $754 million during the quarter, compared to analysts’ expectations of $662.09 million. During the same period in the previous year, the business earned ($0.39) EPS. The business’s revenue was up 58.4% on a year-over-year basis. On average, analysts expect that Cliffs Natural Resources Inc. will post $0.93 EPS for the current year.
CLF has been the subject of a number of analyst reports. FBR & Co set a $6.00 price target on Cliffs Natural Resources and gave the company a “hold” rating in a research note on Thursday, October 13th. Zacks Investment Research downgraded Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, October 17th. Vetr downgraded Cliffs Natural Resources from a “strong-buy” rating to a “hold” rating and set a $6.42 price target for the company. in a research note on Wednesday, October 26th. Axiom Securities reiterated a “sell” rating on shares of Cliffs Natural Resources in a research report on Saturday, November 26th. Finally, JPMorgan Chase & Co. lifted their target price on Cliffs Natural Resources from $7.00 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, November 30th. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $7.92.
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.
Want to see what other hedge funds are holding CLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cliffs Natural Resources Inc. (NYSE:CLF).
This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/amp-capital-investors-ltd-has-675000-position-in-cliffs-natural-resources-inc-clf/1655179.html
Receive News & Ratings for Cliffs Natural Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cliffs Natural Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.