Pomelo Capital adds Cliffs Natural Resources Inc (CLF) to its portfolio

Cliffs Natural Resources Inc (CLF) : Pomelo Capital added new position in Cliffs Natural Resources Inc during the most recent quarter end. The investment management firm now holds 300,000 shares of Cliffs Natural Resources Inc which is valued at $1,905,000 , the company said in a statement filed on Aug 11, 2016 with the SEC.Cliffs Natural Resources Inc makes up approximately 2.17% of Pomelo Capital’s portfolio.

Other Hedge Funds, Including , Hodges Capital Management reduced its stake in CLF by selling 50,000 shares or 45.45% in the most recent quarter. The Hedge Fund company now holds 60,000 shares of CLF which is valued at $381,000. Cliffs Natural Resources Inc makes up approx 0.02% of Hodges Capital Management’s portfolio.Teacher Retirement System Of Texas boosted its stake in CLF in the latest quarter, The investment management firm added 3,189 additional shares and now holds a total of 19,954 shares of Cliffs Natural Resources Inc which is valued at $161,029.Eaton Vance Management reduced its stake in CLF by selling 313,706 shares or 22.27% in the most recent quarter. The Hedge Fund company now holds 1,095,014 shares of CLF which is valued at $7,248,993. Cliffs Natural Resources Inc makes up approx 0.02% of Eaton Vance Management’s portfolio.State Treasurer State Of Michigan boosted its stake in CLF in the latest quarter, The investment management firm added 167,600 additional shares and now holds a total of 227,400 shares of Cliffs Natural Resources Inc which is valued at $1,835,118. Cliffs Natural Resources Inc makes up approx 0.01% of State Treasurer State Of Michigan’s portfolio.

Cliffs Natural Resources Inc opened for trading at $6.3 and hit $6.47 on the upside on Tuesday, eventually ending the session at $6.27, with a gain of 0.32% or 0.02 points. The heightened volatility saw the trading volume jump to 1,04,06,393 shares. Company has a market cap of $1,153 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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