Today, DUPONT CAPITAL MANAGEMENT Corp Invests $463,000 in Cliffs Natural Resources Inc. (CLF)

Today, DUPONT CAPITAL MANAGEMENT Corp Invests $463,000 in Cliffs Natural Resources Inc. (CLF)
DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of Cliffs Natural Resources Inc. (NYSE:CLF) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 79,127 shares of the mining company’s stock, valued at approximately $463,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Swiss National Bank raised its position in Cliffs Natural Resources by 15.9% in the second quarter. Swiss National Bank now owns 274,900 shares of the mining company’s stock worth $1,559,000 after buying an additional 37,700 shares during the last quarter. State Treasurer State of Michigan raised its position in Cliffs Natural Resources by 280.3% in the second quarter. State Treasurer State of Michigan now owns 227,400 shares of the mining company’s stock worth $1,289,000 after buying an additional 167,600 shares during the last quarter. Quantitative Investment Management LLC bought a new position in Cliffs Natural Resources during the second quarter worth about $1,831,000. Commerzbank Aktiengesellschaft FI raised its position in Cliffs Natural Resources by 1.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 555,033 shares of the mining company’s stock worth $3,147,000 after buying an additional 5,991 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Cliffs Natural Resources by 25.0% in the second quarter. Bank of New York Mellon Corp now owns 949,893 shares of the mining company’s stock worth $5,387,000 after buying an additional 190,068 shares during the last quarter. 53.98% of the stock is currently owned by institutional investors and hedge funds.

Cliffs Natural Resources Inc. (NYSE:CLF) traded up 7.72% during trading on Friday, reaching $9.91. The company had a trading volume of 21,482,224 shares. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 50.56 and a beta of 1.42. The stock has a 50 day moving average price of $6.48 and a 200 day moving average price of $5.88. Cliffs Natural Resources Inc. has a 12 month low of $1.20 and a 12 month high of $9.94.

Cliffs Natural Resources (NYSE:CLF) last issued its quarterly earnings results on Thursday, October 27th. The mining company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.30. The firm earned $553 million during the quarter, compared to the consensus estimate of $597.30 million. During the same quarter in the previous year, the business posted ($0.10) EPS. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, equities research analysts predict that Cliffs Natural Resources Inc. will post $0.77 earnings per share for the current year.

A number of research analysts recently weighed in on the company. Cowen and Company upped their price objective on Cliffs Natural Resources from $6.00 to $9.00 and gave the stock a “market perform” rating in a report on Wednesday, August 3rd. TheStreet raised Cliffs Natural Resources from a “sell” rating to a “hold” rating in a report on Monday, August 1st. JPMorgan Chase & Co. dropped their price objective on Cliffs Natural Resources from $10.50 to $10.00 and set an “overweight” rating on the stock in a report on Friday, July 29th. Zacks Investment Research raised Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a report on Monday, August 1st. Finally, Vetr lowered Cliffs Natural Resources from a “sell” rating to a “strong sell” rating and set a $6.42 price objective on the stock. in a report on Monday, November 14th. Seven analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.54.

In other news, Director Eric M. Rychel purchased 5,000 shares of the stock in a transaction dated Wednesday, November 2nd. The shares were bought at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the transaction, the director now owns 11,845 shares in the company, valued at $65,739.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph A. Rutkowski purchased 6,000 shares of the stock in a transaction dated Friday, October 28th. The shares were purchased at an average price of $5.32 per share, for a total transaction of $31,920.00. Following the completion of the transaction, the director now owns 68,236 shares in the company, valued at approximately $363,015.52. The disclosure for this purchase can be found here. Insiders own 4.52% 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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