Atria Wealth Solutions Inc. Buys 22,475 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Atria Wealth Solutions Inc. boosted its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 195.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 33,950 shares of the mining company’s stock after acquiring an additional 22,475 shares during the period. Atria Wealth Solutions Inc.’s holdings in Cleveland-Cliffs were worth $279,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fairfax Financial Holdings Ltd. Can bought a new position in shares of Cleveland-Cliffs during the 4th quarter worth approximately $55,453,000. Slate Path Capital LP boosted its holdings in shares of Cleveland-Cliffs by 35.4% during the 4th quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company’s stock worth $152,355,000 after buying an additional 4,239,000 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Cleveland-Cliffs by 168.8% during the 1st quarter. Allianz Asset Management GmbH now owns 3,555,383 shares of the mining company’s stock worth $29,225,000 after buying an additional 2,232,799 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Cleveland-Cliffs by 69.5% during the 4th quarter. Deutsche Bank AG now owns 3,552,516 shares of the mining company’s stock worth $33,394,000 after buying an additional 1,456,236 shares in the last quarter. Finally, Wexford Capital LP boosted its holdings in shares of Cleveland-Cliffs by 1,212.0% during the 4th quarter. Wexford Capital LP now owns 1,018,950 shares of the mining company’s stock worth $9,578,000 after buying an additional 941,284 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CLF has been the topic of a number of research analyst reports. B. Riley restated a “buy” rating and set a $17.00 price target (down from $20.00) on shares of Cleveland-Cliffs in a report on Wednesday, April 23rd. Citigroup increased their price target on Cleveland-Cliffs from $7.50 to $11.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Morgan Stanley increased their price target on Cleveland-Cliffs from $8.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group cut their price target on Cleveland-Cliffs from $13.00 to $11.25 and set a “buy” rating on the stock in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. upped their target price on Cleveland-Cliffs from $7.50 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.96.

Insider Buying and Selling

In related news, EVP James D. Graham sold 120,000 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $6.85, for a total value of $822,000.00. Following the completion of the sale, the executive vice president directly owned 492,249 shares of the company’s stock, valued at approximately $3,371,905.65. This represents a 19.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.71% of the company’s stock.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $10.41 on Friday. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.28. Cleveland-Cliffs Inc. has a twelve month low of $5.63 and a twelve month high of $14.34. The stock’s 50 day moving average is $9.05 and its 200-day moving average is $8.84. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of -3.05 and a beta of 1.99.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Monday, July 21st. The mining company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.18. The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.90 billion. Cleveland-Cliffs had a negative return on equity of 17.97% and a negative net margin of 9.03%. Cleveland-Cliffs’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 EPS. Sell-side analysts forecast that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

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.