Alliancebernstein L.P. grew its position in Cliffs Natural Resources Inc. (NYSE:CLF) by 30.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 679,245 shares of the mining company’s stock after purchasing an additional 156,820 shares during the period. Alliancebernstein L.P. owned approximately 0.23% of Cliffs Natural Resources worth $4,700,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. increased its position in Cliffs Natural Resources by 23,956.0% during the 1st quarter. BlackRock Inc. now owns 18,554,188 shares of the mining company’s stock worth $152,330,000 after purchasing an additional 18,477,059 shares in the last quarter. Vanguard Group Inc. lifted its position in Cliffs Natural Resources by 53.3% during the first quarter. Vanguard Group Inc. now owns 25,642,631 shares of the mining company’s stock valued at $210,526,000 after buying an additional 8,918,169 shares in the last quarter. Wellington Management Group LLP lifted its position in Cliffs Natural Resources by 574.0% during the first quarter. Wellington Management Group LLP now owns 4,366,103 shares of the mining company’s stock valued at $35,846,000 after buying an additional 3,718,310 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Cliffs Natural Resources by 93.7% during the first quarter. Dimensional Fund Advisors LP now owns 5,241,713 shares of the mining company’s stock valued at $43,034,000 after buying an additional 2,535,927 shares in the last quarter. Finally, State Street Corp lifted its position in Cliffs Natural Resources by 25.7% during the first quarter. State Street Corp now owns 10,067,676 shares of the mining company’s stock valued at $82,654,000 after buying an additional 2,059,034 shares in the last quarter. Institutional investors and hedge funds own 58.28% of the company’s stock.

In other news, Chairman Lourenco Goncalves bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was acquired at an average cost of $7.11 per share, for a total transaction of $711,000.00. Following the completion of the purchase, the chairman now owns 3,586,970 shares of the company’s stock, valued at approximately $25,503,356.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

Shares of Cliffs Natural Resources Inc. (NYSE:CLF) opened at 7.40 on Wednesday. Cliffs Natural Resources Inc. has a 52-week low of $4.91 and a 52-week high of $12.37. The firm has a market cap of $2.19 billion, a P/E ratio of 33.94 and a beta of 1.65. The stock’s 50 day moving average is $7.56 and its 200-day moving average is $7.15. Cliffs Natural Resources also was the target of unusually large options trading on Monday. Stock traders acquired 1,191 put options on the company. This is an increase of 121% compared to the typical daily volume of 538 put options.

Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings results on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.18 by $0.08. Cliffs Natural Resources had a negative return on equity of 13.83% and a net margin of 2.44%. The firm had revenue of $569.30 million during the quarter, compared to analysts’ expectations of $485.93 million. During the same quarter in the prior year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts anticipate that Cliffs Natural Resources Inc. will post $0.96 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Axiom Securities restated a “sell” rating on shares of Cliffs Natural Resources in a report on Monday, July 31st. Jefferies Group LLC assumed coverage on shares of Cliffs Natural Resources in a report on Friday, July 7th. They set a “buy” rating and a $9.00 target price on the stock. TheStreet raised shares of Cliffs Natural Resources from a “d+” rating to a “c” rating in a research report on Monday, July 31st. Finally, ValuEngine upgraded Cliffs Natural Resources from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.07.

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About Cliffs Natural Resources

Cleveland-Cliffs Inc, formerly 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.

Institutional Ownership by Quarter for Cliffs Natural Resources (NYSE:CLF)

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