Cliffs Natural Resources Inc (CLF) Stake Lowered by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY decreased its position in Cliffs Natural Resources Inc (NYSE:CLF) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 152,019 shares of the mining company’s stock after selling 3,857 shares during the period. Metropolitan Life Insurance Co. NY owned approximately 0.07% of Cliffs Natural Resources worth $1,278,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Seven Eight Capital LP purchased a new stake in Cliffs Natural Resources during the fourth quarter worth $1,128,000. Bogle Investment Management L P DE purchased a new stake in Cliffs Natural Resources during the fourth quarter worth $11,075,000. First Allied Advisory Services Inc. purchased a new stake in Cliffs Natural Resources during the fourth quarter worth $129,000. Pacad Investment Ltd. purchased a new stake in Cliffs Natural Resources during the fourth quarter worth $1,942,000. Finally, Highland Capital Management LP purchased a new stake in Cliffs Natural Resources during the fourth quarter worth $2,103,000. Institutional investors own 58.73% of the company’s stock.

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

Shares of Cliffs Natural Resources Inc (NYSE:CLF) traded down 1.39% during midday trading on Friday, hitting $7.11. 19,162,752 shares of the company traded hands. The stock has a market capitalization of $1.66 billion, a P/E ratio of 8.16 and a beta of 1.63. Cliffs Natural Resources Inc has a 52 week low of $2.77 and a 52 week high of $12.37. The company has a 50-day moving average price of $8.46 and a 200-day moving average price of $8.43. Cliffs Natural Resources also saw some unusual options trading activity on Thursday. Investors purchased 25,134 call options on the stock. This is an increase of 155% compared to the typical daily volume of 9,865 call options.

Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings data on Thursday, February 9th. The mining company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.19. The company had revenue of $754 million for the quarter, compared to analysts’ expectations of $662.09 million. Cliffs Natural Resources had a net margin of 8.26% and a negative return on equity of 6.02%. Cliffs Natural Resources’s revenue was up 58.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.39) EPS. Analysts anticipate that Cliffs Natural Resources Inc will post $1.44 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This story was posted by BBNS and is the sole property of of BBNS. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://baseballnewssource.com/markets/cliffs-natural-resources-inc-clf-shares-sold-by-metropolitan-life-insurance-co-ny-updated-updated/525889.html.

A number of research firms have recently weighed in on CLF. Zacks Investment Research lowered shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Cliffs Natural Resources from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Monday, March 27th. Axiom Securities restated a “sell” rating on shares of Cliffs Natural Resources in a report on Thursday, March 16th. FBR & Co restated a “market perform” rating and issued a $11.00 price objective (up from $10.00) on shares of Cliffs Natural Resources in a report on Thursday, February 16th. Finally, Credit Suisse Group AG restated an “underperform” rating and issued a $6.00 price objective on shares of Cliffs Natural Resources in a report on Friday, January 13th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.81.

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.

5 Day Chart for NYSE:CLF

Receive News & Ratings for Cliffs Natural Resources Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cliffs Natural Resources Inc and related companies with our FREE daily email newsletter.

 

Latest News

Julio Urias Returning to Dodgers Thursday
Julio Urias Returning to Dodgers Thursday
Tony Gwynn Jr. Like Father Like Son in Baseball and Brewing
Tony Gwynn Jr. Like Father Like Son in Baseball and Brewing
Sources Say Luis Robert Will Be Cleared by May 20 to Sign
Sources Say Luis Robert Will Be Cleared by May 20 to Sign
Colorado Rockies Bullpen Helping Them to NL West Lead
Colorado Rockies Bullpen Helping Them to NL West Lead
Hall of Famer Given New Lease on Life
Hall of Famer Given New Lease on Life
New York Mets Have the Power
New York Mets Have the Power


Leave a Reply

 
© 2006-2017 BBNS.