Today The Cliffs Natural Resources Inc. (CLF) Shares Sold by JPMorgan Chase & Co.

Today The Cliffs Natural Resources Inc. (CLF) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in Cliffs Natural Resources Inc. (NYSE:CLF) by 63.5% during the third quarter, Holdings Channel reports. The fund owned 291,953 shares of the mining company’s stock after selling 508,905 shares during the period. JPMorgan Chase & Co. owned 0.14% of Cliffs Natural Resources worth $1,709,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its position in Cliffs Natural Resources by 186.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,220,732 shares of the mining company’s stock valued at $23,932,000 after buying an additional 2,746,729 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in Cliffs Natural Resources during the third quarter valued at approximately $13,535,000. Vanguard Group Inc. increased its position in Cliffs Natural Resources by 5.5% in the second quarter. Vanguard Group Inc. now owns 11,916,859 shares of the mining company’s stock valued at $67,569,000 after buying an additional 623,576 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Cliffs Natural Resources by 10.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,750,911 shares of the mining company’s stock valued at $26,938,000 after buying an additional 466,304 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in Cliffs Natural Resources during the second quarter valued at approximately $2,623,000. Hedge funds and other institutional investors own 57.69% of the company’s stock.

Cliffs Natural Resources Inc. (NYSE:CLF) traded down 4.575% on Wednesday, reaching $8.865. The company had a trading volume of 10,762,753 shares. The stock’s 50 day moving average price is $9.21 and its 200-day moving average price is $7.29. Cliffs Natural Resources Inc. has a 12-month low of $1.42 and a 12-month high of $10.90. The stock has a market capitalization of $2.04 billion, a PE ratio of 45.230 and a beta of 1.70.

Several research firms recently commented on CLF. Zacks Investment Research upgraded Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Tuesday, January 17th. Credit Suisse Group restated an “underperform” rating and set a $6.00 target price on shares of Cliffs Natural Resources in a research report on Friday, January 13th. Vetr downgraded Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating and set a $10.76 target price on the stock. in a research report on Wednesday, January 11th. Axiom Securities restated a “sell” rating on shares of Cliffs Natural Resources in a research report on Tuesday, December 27th. Finally, J P Morgan Chase & Co increased their target price on Cliffs Natural Resources from $7.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 30th. Six analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Cliffs Natural Resources currently has a consensus rating of “Hold” and a consensus price target of $6.73.

In other Cliffs Natural Resources news, Director Eric M. Rychel purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The shares were acquired at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the purchase, the director now directly owns 11,845 shares of the company’s stock, valued at approximately $65,739.75. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Joseph A. Rutkowski purchased 6,000 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were acquired at an average price of $5.32 per share, for a total transaction of $31,920.00. Following the purchase, the director now directly owns 68,236 shares in the company, valued at $363,015.52. The disclosure for this purchase can be found here. Insiders have bought a total of 26,770 shares of company stock worth $147,211 in the last quarter. Corporate 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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