Aristeia Capital buys $30,549,075 stake in Cliffs Natural Resources Inc (CLF)

Cliffs Natural Resources Inc (CLF) : Aristeia Capital scooped up 115,878 additional shares in Cliffs Natural Resources Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 4,810,878 shares of Cliffs Natural Resources Inc which is valued at $30,549,075.Cliffs Natural Resources Inc makes up approximately 6.46% of Aristeia Capital’s portfolio.

Other Hedge Funds, Including , J. Goldman Co Lp sold out all of its stake in CLF during the most recent quarter. The investment firm sold 13,700 shares of CLF which is valued $86,995.Nuveen Asset Management reduced its stake in CLF by selling 549 shares or 4.5% in the most recent quarter. The Hedge Fund company now holds 11,649 shares of CLF which is valued at $73,971.Blackrock Institutional Trust Company N.a. boosted its stake in CLF in the latest quarter, The investment management firm added 466,304 additional shares and now holds a total of 4,750,911 shares of Cliffs Natural Resources Inc which is valued at $30,168,285. Airain Ltd added CLF to its portfolio by purchasing 209,704 company shares during the most recent quarter which is valued at $1,700,699. Cliffs Natural Resources Inc makes up approx 0.10% of Airain Ltd’s portfolio. Lmr Partners Llp added CLF to its portfolio by purchasing 20,265 company shares during the most recent quarter which is valued at $160,296. Cliffs Natural Resources Inc makes up approx 0.02% of Lmr Partners Llp’s portfolio.

Cliffs Natural Resources Inc opened for trading at $5.74 and hit $5.8093 on the upside on Thursday, eventually ending the session at $5.78, with a gain of 1.40% or 0.08 points. The heightened volatility saw the trading volume jump to 82,79,302 shares. Company has a market cap of $1,063 M.

On the company’s financial health, Cliffs Natural Resources Inc reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.03. The company had revenue of $496.00 million for the quarter, compared to analysts expectations of $446.80 million. The company’s revenue was down -.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.28 EPS.

Many Wall Street Analysts have commented on Cliffs Natural Resources Inc. Company shares were Reiterated by Cowen on Aug 3, 2016 to “Market Perform”, Firm has raised the Price Target to $ 9 from a previous price target of $6 .Company shares were Reiterated by FBR Capital on Jul 26, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 7 from a previous price target of $4 .Company shares were Upgraded by Macquarie on Jun 10, 2016 to ” Outperform”, Firm has raised the Price Target to $ 7.50 from a previous price target of $4 .

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 also produces low-volatile metallurgical coal in the United States from its mines located in Alabama and West Virginia. In addition it operates an iron ore mining complex in Western Australia and owns two non-operating iron ore mines in Eastern Canada. The Company operates in segments: U.S. Iron Ore Asia Pacific Iron Ore and North American Coal. In the United States it operates five iron ore mines in Michigan and Minnesota and two metallurgical coal operations located in Alabama and West Virginia. Its Asia Pacific operations consist of its Koolyanobbing iron ore mining complex in Western Australia.

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