17,900 Shares in Cleveland-Cliffs Inc. (NYSE:CLF) Bought by Hickory Point Bank & Trust

Hickory Point Bank & Trust bought a new position in Cleveland-Cliffs Inc. (NYSE:CLF) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,900 shares of the mining company’s stock, valued at approximately $168,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC boosted its stake in Cleveland-Cliffs by 299.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after purchasing an additional 1,490 shares during the period. Darwin Wealth Management LLC acquired a new position in Cleveland-Cliffs in the 3rd quarter worth $34,000. Truvestments Capital LLC acquired a new position in Cleveland-Cliffs in the 3rd quarter worth $34,000. Byrne Asset Management LLC boosted its stake in Cleveland-Cliffs by 130.0% in the 4th 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 period. Finally, Stonebridge Financial Group LLC acquired a new position in Cleveland-Cliffs in the 4th quarter worth $44,000. 67.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CLF has been the topic of several analyst reports. Citigroup cut their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. B. Riley reissued a “buy” rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. The Goldman Sachs Group initiated coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 price target on the stock. StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley cut their price target on shares of 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 research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cleveland-Cliffs has a consensus rating of “Hold” and a consensus target price of $16.54.

Cleveland-Cliffs Stock Performance

Shares of NYSE:CLF opened at $10.83 on Friday. The company’s 50 day moving average price is $10.34 and its two-hundred day moving average price is $11.64. Cleveland-Cliffs Inc. has a 12-month low of $8.99 and a 12-month high of $22.97. The firm has a market cap of $5.35 billion, a PE ratio of -11.16 and a beta of 1.96. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

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

Insider Buying and Selling

In related news, Director Jane M. Cronin acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $10.56 per share, with a total value of $105,600.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Keith Koci acquired 9,500 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $10.81 per share, with a total value of $102,695.00. Following the purchase, the executive vice president now owns 543,475 shares in the company, valued at $5,874,964.75. The trade was a 1.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.76% of the stock is currently owned by company insiders.

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.