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Is Cliffs Natural Resources Inc (CLF) Going to Burn These Hedge Funds?

Now, key money managers have jumped into Cliffs Natural Resources Inc (NYSE:CLF) headfirst. Omega Advisors, managed by Leon Cooperman, initiated the most outsized position in Cliffs Natural Resources Inc (NYSE:CLF). Omega Advisors had $6.7 million invested in the company at the end of the quarter. Mike Masters’s Masters Capital Management also initiated a $5.9 million position during the quarter. The other funds with brand new CLF positions are Mike Masters’s Masters Capital Management, Steven Tananbaum’s GoldenTree Asset Management, and Ken Griffin’s Citadel Investment Group.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Cliffs Natural Resources Inc (NYSE:CLF) but similarly valued. These stocks are Advantage Oil & Gas Ltd (USA) (NYSE:AAV), Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW), ESCO Technologies Inc. (NYSE:ESE), and Hollysys Automation Technologies Ltd (NASDAQ:HOLI). This group of stocks’ market caps match CLF’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AAV 9 12530 0
AAWW 11 98467 -4
ESE 5 2363 1
HOLI 15 84096 1

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $49 million. That figure was an impressive $266 million in CLF’s case. Hollysys Automation Technologies Ltd (NASDAQ:HOLI) is the most popular stock in this table. On the other hand ESCO Technologies Inc. (NYSE:ESE) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Cliffs Natural Resources Inc (NYSE:CLF) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.

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