Today: Today, CIBC World Markets Inc. Buys 435,427 Shares of Cliffs Natural Resources Inc. (CLF)

Today, CIBC World Markets Inc. Buys 435,427  Shares of Cliffs Natural Resources Inc. (CLF)

CIBC World Markets Inc. purchased a new stake in Cliffs Natural Resources Inc. (NYSE:CLF) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 435,427 shares of the mining company’s stock, valued at approximately $2,547,000.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Cliffs Natural Resources by 43.5% in the first quarter. State Street Corp now owns 11,587,242 shares of the mining company’s stock valued at $34,763,000 after buying an additional 3,514,416 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Cliffs Natural Resources by 236.3% in the second quarter. BNP Paribas Arbitrage SA now owns 42,138 shares of the mining company’s stock worth $239,000 after buying an additional 29,609 shares in the last quarter. Sanders Morris Harris Inc. raised its position in shares of Cliffs Natural Resources by 110.2% in the second quarter. Sanders Morris Harris Inc. now owns 103,000 shares of the mining company’s stock worth $585,000 after buying an additional 54,000 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Cliffs Natural Resources during the second quarter worth $932,000. Finally, LMR Partners LLP acquired a new position in shares of Cliffs Natural Resources during the second quarter worth $114,000. Institutional investors and hedge funds own 57.53% of the company’s stock.

Cliffs Natural Resources Inc. (NYSE:CLF) traded down 1.92% during trading on Monday, reaching $9.72. The company had a trading volume of 24,779,973 shares. Cliffs Natural Resources Inc. has a 12 month low of $1.20 and a 12 month high of $10.14. The stock has a 50 day moving average price of $6.59 and a 200 day moving average price of $5.97. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 49.59 and a beta of 1.42.

Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings data on Thursday, October 27th. The mining company reported ($0.11) EPS for the quarter, missing the Zacks’ 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 company earned ($0.10) earnings per share. The business’s quarterly revenue was down 6.7% on a year-over-year basis. On average, equities research analysts predict that Cliffs Natural Resources Inc. will post $0.77 earnings per share for the current year.

CLF has been the topic of a number of recent analyst reports. Zacks Investment Research raised Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a report on Monday, October 3rd. Vetr lowered Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating and set a $6.42 target price on the stock. in a report on Monday, November 7th. FBR & Co set a $6.00 target price on Cliffs Natural Resources and gave the company a “hold” rating in a report on Thursday, October 13th. TheStreet raised Cliffs Natural Resources from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Finally, Cowen and Company upped their target price on Cliffs Natural Resources from $6.00 to $9.00 and gave the company a “market perform” rating in a report on Wednesday, August 3rd. Seven equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $5.54.

In other news, Director John T. Baldwin acquired 10,000 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were bought at an average price of $5.49 per share, with a total value of $54,900.00. Following the purchase, the director now owns 68,160 shares of the company’s stock, valued at $374,198.40. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric M. Rychel acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The stock was purchased at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the purchase, the director now directly owns 11,845 shares in the company, valued at approximately $65,739.75. The disclosure for this purchase can be found here. 4.52% of the stock is owned by insiders.

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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