Will Cliffs Natural Resources’s Major Investors Sell More After the Downgrade?

For the year-to-date, Cliffs Natural Resources Inc.’s (NYSE:CLF) shares are down 44.31 percent. On Wednesday, the company’s stock had been downgraded by Credit Suisse analysts. The firm cut it from a “Neutral” rating to “Underperform;” it also cut its price target to $30. This represents an 11 percent downside to Tuesday’s closing stock price of $33.68.

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Credit Suisse said the downgrade comes from company’s exposure to the large drop in iron ore prices.

From the stock’s downgrade, will Cliffs Natural Resources largest shareholders cut their holdings? 611 institutional firms indicated owning shares of Cliffs Natural Resources Inc. (NYSE:CLF) in Q2 2012. These firms reported owning a total of 126.93 million shares on 06/30/2012. The shares closed at $48.60 on 06/30/2012.

Here are the ten largest positions in Cliffs Natural Resources Inc. at the end of June 30th, 2012.

Capital World Investors held 17,341,700 shares on 06/30/2012 worth $854,772,409. This brought the portfolio total to 0.32%.

Vanguard Group Inc held 7,997,615 shares on 06/30/2012 worth $394,202,451. This brought the portfolio total to 0.05%.

State Street Corp held 6,294,742 shares on 06/30/2012 worth $310,267,839. This brought the portfolio total to 0.05%.

Blackrock Institutional Trust Company N.A. held 3,724,339 shares on 06/30/2012 worth $183,572,673. This brought the portfolio total to 0.04%.

VAN ECK Associates Corp held 2,578,928 shares on 06/30/2012 worth $127,115,363. This brought the portfolio total to 0.64%.

Herndon Capital Management held 2,551,376 shares on 06/30/2012 worth $125,757,325. This brought the portfolio total to 2.57%.

I.G. Investment Management Ltd. held 2,347,740 shares on 06/30/2012 worth $115,720,107. This brought the portfolio total to 0.51%.

Calamos Advisors LLC held 2,263,168 shares on 06/30/2012 worth $111,551,553. This brought the portfolio total to 0.55%.

TIAA Cref Investment Management LLC held 2,150,825 shares on 06/30/2012 worth $106,014,166. This brought the portfolio total to 0.1%.

Susquehanna International Group LLP held 2,055,200 shares on 06/30/2012 worth $101,301. This brought the portfolio total to 0.0%.

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