Cliffs Natural Resources Inc. (CLF) Chairman Lourenco Goncalves Purchases 100,000 Shares

Cliffs Natural Resources Inc. (NYSE:CLF) Chairman Lourenco Goncalves bought 100,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was bought at an average price 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 $25,503,356.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Lourenco Goncalves also recently made the following trade(s):

  • On Thursday, August 10th, Lourenco Goncalves bought 100,000 shares of Cliffs Natural Resources stock. The stock was bought at an average price of $7.19 per share, for a total transaction of $719,000.00.

Cliffs Natural Resources Inc. (NYSE CLF) opened at 7.13 on Monday. Cliffs Natural Resources Inc. has a 1-year low of $4.91 and a 1-year high of $12.37. The firm has a 50-day moving average of $7.65 and a 200-day moving average of $7.39. The stock has a market cap of $2.11 billion, a PE ratio of 32.71 and a beta of 1.70.

Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings data on Thursday, July 27th. The mining company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.08. The firm had revenue of $569.30 million for the quarter, compared to analysts’ expectations of $485.93 million. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. Analysts expect that Cliffs Natural Resources Inc. will post $0.97 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the stock. Nuveen Asset Management LLC increased its position in Cliffs Natural Resources by 1.2% in the first quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock worth $115,000 after purchasing an additional 164 shares during the last quarter. Comerica Bank increased its position in Cliffs Natural Resources by 49.5% in the second quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock worth $116,000 after purchasing an additional 5,129 shares during the last quarter. Invictus RG bought a new stake in Cliffs Natural Resources in the first quarter worth $121,000. ARP Americas LLC increased its position in Cliffs Natural Resources by 72.5% in the second quarter. ARP Americas LLC now owns 17,600 shares of the mining company’s stock worth $122,000 after purchasing an additional 7,400 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in Cliffs Natural Resources by 486.8% in the second quarter. D.A. Davidson & CO. now owns 18,597 shares of the mining company’s stock worth $128,000 after purchasing an additional 15,428 shares during the last quarter. Institutional investors own 58.28% of the company’s stock.

Several analysts have recently issued reports on the stock. Clarkson Capital reissued a “neutral” rating on shares of Cliffs Natural Resources in a research report on Thursday, July 27th. FBR & Co set a $10.00 price target on shares of Cliffs Natural Resources and gave the company a “buy” rating in a research report on Saturday, June 17th. Cowen and Company reissued a “hold” rating on shares of Cliffs Natural Resources in a research report on Thursday, August 3rd. ValuEngine lowered shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, BidaskClub lowered shares of Cliffs Natural Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $8.31.

Cliffs Natural Resources Company Profile

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.

Insider Buying and Selling by Quarter for Cliffs Natural Resources (NYSE:CLF)

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