Jones Financial Companies Lllp Acquires 1,182 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Jones Financial Companies Lllp boosted its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 21.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,723 shares of the mining company’s stock after buying an additional 1,182 shares during the period. Jones Financial Companies Lllp’s holdings in Cleveland-Cliffs were worth $63,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC boosted its stake in Cleveland-Cliffs by 299.8% during the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after buying an additional 1,490 shares during the period. Darwin Wealth Management LLC bought a new stake in Cleveland-Cliffs during the third quarter worth about $34,000. Truvestments Capital LLC bought a new stake in Cleveland-Cliffs during the third quarter worth about $34,000. Byrne Asset Management LLC lifted its stake in Cleveland-Cliffs by 130.0% during the fourth quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company’s stock worth $43,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in Cleveland-Cliffs during the fourth quarter worth about $44,000. Institutional investors own 67.68% of the company’s stock.

Insider Activity at Cleveland-Cliffs

In other news, Director John T. Baldwin bought 4,000 shares of Cleveland-Cliffs stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $8.70 per share, for a total transaction of $34,800.00. Following the acquisition, the director now owns 133,227 shares of the company’s stock, valued at approximately $1,159,074.90. The trade was a 3.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jane M. Cronin bought 10,000 shares of Cleveland-Cliffs stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $10.56 per share, for a total transaction of $105,600.00. Following the acquisition, the director now directly owns 24,522 shares in the company, valued at approximately $258,952.32. This trade represents a 68.86 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 23,500 shares of company stock worth $243,095 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Cleveland-Cliffs Stock Down 2.3 %

Shares of NYSE:CLF opened at $10.16 on Tuesday. Cleveland-Cliffs Inc. has a 1 year low of $8.50 and a 1 year high of $22.97. The company has a market cap of $5.02 billion, a PE ratio of -10.47 and a beta of 1.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The stock’s 50-day moving average is $10.40 and its 200 day moving average is $11.37.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.03). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Sell-side analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CLF. The Goldman Sachs Group dropped their price target on Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. B. Riley reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. Glj Research decreased their price objective on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating on the stock in a report on Thursday, February 27th. Morgan Stanley decreased their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Finally, Citigroup decreased their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.43.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.