Cleveland-Cliffs Inc. (NYSE:CLF) Shares Acquired by Xponance Inc.

Xponance Inc. increased its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,931 shares of the mining company’s stock after acquiring an additional 5,596 shares during the quarter. Xponance Inc.’s holdings in Cleveland-Cliffs were worth $648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of Cleveland-Cliffs by 28.0% in the third quarter. Advisors Asset Management Inc. now owns 19,280 shares of the mining company’s stock valued at $246,000 after buying an additional 4,215 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Cleveland-Cliffs by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,751,153 shares of the mining company’s stock valued at $47,902,000 after acquiring an additional 121,389 shares during the period. Cerity Partners LLC raised its stake in Cleveland-Cliffs by 10.9% during the 3rd quarter. Cerity Partners LLC now owns 366,619 shares of the mining company’s stock valued at $4,682,000 after acquiring an additional 35,995 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Cleveland-Cliffs during the 3rd quarter worth approximately $34,000. Finally, Private Trust Co. NA grew its stake in shares of Cleveland-Cliffs by 3.8% in the 3rd quarter. Private Trust Co. NA now owns 40,531 shares of the mining company’s stock valued at $518,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Insider Activity at Cleveland-Cliffs

In related news, Director John T. Baldwin bought 4,000 shares of the 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 in the company, valued at $1,159,074.90. This represents a 3.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Keith Koci purchased 9,500 shares of the company’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $10.81 per share, with a total value of $102,695.00. Following the transaction, the executive vice president now directly owns 543,475 shares of the company’s stock, valued at $5,874,964.75. This represents a 1.78 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 23,500 shares of company stock valued at $243,095. Insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cleveland-Cliffs Stock Performance

CLF opened at $9.41 on Wednesday. Cleveland-Cliffs Inc. has a 1-year low of $8.50 and a 1-year high of $22.97. The stock has a market cap of $4.65 billion, a P/E ratio of -9.70 and a beta of 1.94. The stock’s 50 day simple moving average is $10.34 and its 200 day simple moving average is $11.26. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55.

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

About Cleveland-Cliffs

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.