Cliffs Natural Resources Target of Unusually Large Options Trading (CLF)

Cliffs Natural Resources Inc. (NYSE:CLF) was the target of some unusual options trading activity on Friday. Investors acquired 28,256 call options on the company. This represents an increase of 276% compared to the average volume of 7,518 call options.

In other news, Chairman Lourenco Goncalves acquired 200,000 shares of Cliffs Natural Resources stock in a transaction dated Wednesday, May 3rd. The shares were acquired at an average cost of $6.31 per share, for a total transaction of $1,262,000.00. Following the acquisition, the chairman now owns 2,855,296 shares of the company’s stock, valued at $18,016,917.76. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John T. Baldwin acquired 6,000 shares of Cliffs Natural Resources stock in a transaction dated Wednesday, May 3rd. The stock was purchased at an average price of $6.32 per share, for a total transaction of $37,920.00. Following the completion of the acquisition, the director now directly owns 87,991 shares in the company, valued at approximately $556,103.12. The disclosure for this purchase can be found here. Insiders bought a total of 215,250 shares of company stock worth $1,361,283 over the last 90 days. Company insiders own 0.46% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Searle & CO. purchased a new position in Cliffs Natural Resources during the fourth quarter valued at approximately $1,326,000. 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 buying an additional 108,638 shares in the last quarter. Luminus Management LLC purchased a new position in Cliffs Natural Resources during the fourth quarter valued at approximately $9,547,000. Van ECK Associates Corp raised its position in Cliffs Natural Resources by 24.6% in the first quarter. Van ECK Associates Corp now owns 516,051 shares of the mining company’s stock valued at $4,237,000 after buying an additional 101,984 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its position in Cliffs Natural Resources by 1,145.3% in the first quarter. Tudor Investment Corp ET AL now owns 237,786 shares of the mining company’s stock valued at $1,952,000 after buying an additional 218,691 shares in the last quarter. Institutional investors and hedge funds own 66.73% of the company’s stock.

Shares of Cliffs Natural Resources (NYSE:CLF) traded up 6.09% on Friday, reaching $6.62. 22,143,256 shares of the company’s stock traded hands. Cliffs Natural Resources has a 52 week low of $4.55 and a 52 week high of $12.37. The company has a 50 day moving average of $6.17 and a 200-day moving average of $8.33. The stock has a market capitalization of $1.96 billion, a PE ratio of 38.71 and a beta of 1.68.

Cliffs Natural Resources (NYSE:CLF) last issued its earnings results on Thursday, April 27th. The mining company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.27. The business had revenue of $461.60 million for the quarter, compared to analyst estimates of $412.71 million. Cliffs Natural Resources had a negative return on equity of 5.79% and a net margin of 1.68%. The firm’s revenue for the quarter was up 51.1% on a year-over-year basis. During the same period last year, the company posted $0.62 earnings per share. Equities research analysts forecast that Cliffs Natural Resources will post $0.96 earnings per share for the current year.

A number of equities research analysts have recently weighed in on the stock. FBR & Co set a $10.00 price objective on shares of Cliffs Natural Resources and gave the company a “buy” rating in a report on Saturday, June 17th. ValuEngine lowered shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. TheStreet lowered shares of Cliffs Natural Resources from a “c” rating to a “d+” rating in a report on Thursday, May 4th. Zacks Investment Research downgraded shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Finally, J P Morgan Chase & Co increased their target price on shares of Cliffs Natural Resources from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, March 27th. Three equities 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’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.69.

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About Cliffs Natural Resources

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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