Cleveland-Cliffs Inc. (NYSE:CLF) Director Jane M. Cronin Purchases 10,000 Shares

Cleveland-Cliffs Inc. (NYSE:CLF) Director Jane M. Cronin bought 10,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $10.56 per share, with a total value of $105,600.00. Following the transaction, the director now owns 24,522 shares of the company’s stock, valued at $258,952.32. This trade represents a 68.86 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Cleveland-Cliffs Price Performance

NYSE CLF opened at $10.83 on Friday. Cleveland-Cliffs Inc. has a fifty-two week low of $8.99 and a fifty-two week high of $22.97. The stock’s 50-day moving average is $10.31 and its two-hundred day moving average is $11.66. 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 firm has a market cap of $5.35 billion, a P/E ratio of -11.16 and a beta of 1.96.

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). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.46 billion. On average, analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

CLF has been the subject of several recent analyst reports. Citigroup decreased their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Glj Research decreased their target price on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a research report on Thursday. B. Riley reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. Morgan Stanley cut their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, The Goldman Sachs Group initiated coverage on Cleveland-Cliffs in a report on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cleveland-Cliffs presently has an average rating of “Hold” and an average price target of $16.54.

Hedge Funds Weigh In On Cleveland-Cliffs

Institutional investors have recently bought and sold shares of the stock. Strengthening Families & Communities LLC raised its holdings 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 in the last quarter. Pinpoint Asset Management Ltd acquired a new stake in shares of Cleveland-Cliffs in the fourth quarter valued at about $25,000. Darwin Wealth Management LLC acquired a new stake in shares of Cleveland-Cliffs in the third quarter valued at about $34,000. Truvestments Capital LLC acquired a new stake in shares of Cleveland-Cliffs in the third quarter valued at about $34,000. Finally, Blue Trust Inc. grew its position in shares of Cleveland-Cliffs by 231.9% in the third quarter. Blue Trust Inc. now owns 3,634 shares of the mining company’s stock valued at $46,000 after purchasing an additional 2,539 shares during the last quarter. 67.68% of the stock is currently owned by institutional investors.

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.