RWA Wealth Partners LLC Sells 2,235 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

RWA Wealth Partners LLC lowered its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,404 shares of the mining company’s stock after selling 2,235 shares during the period. RWA Wealth Partners LLC’s holdings in Cleveland-Cliffs were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Byrne Asset Management LLC boosted its stake in Cleveland-Cliffs by 130.0% during the 4th quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company’s stock worth $43,000 after acquiring an additional 2,600 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Cleveland-Cliffs during the fourth quarter worth $44,000. AllSquare Wealth Management LLC grew its holdings in shares of Cleveland-Cliffs by 24.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company’s stock valued at $48,000 after buying an additional 1,000 shares during the period. GAMMA Investing LLC increased its position in shares of Cleveland-Cliffs by 1,190.6% in the 4th quarter. GAMMA Investing LLC now owns 5,330 shares of the mining company’s stock valued at $50,000 after buying an additional 4,917 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Cleveland-Cliffs by 487.8% during the 4th quarter. Farther Finance Advisors LLC now owns 5,990 shares of the mining company’s stock worth $56,000 after buying an additional 4,971 shares during the period. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CLF shares. Glj Research lowered their price target on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group lowered their target price 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. 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 note on Monday, February 3rd. B. Riley restated a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Finally, Citigroup reduced their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Two investment 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.43.

Cleveland-Cliffs Stock Down 3.1 %

CLF stock opened at $8.26 on Tuesday. Cleveland-Cliffs Inc. has a twelve month low of $7.91 and a twelve month high of $22.97. The company has a market cap of $4.08 billion, a price-to-earnings ratio of -8.51 and a beta of 1.94. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $10.22 and a two-hundred day moving average price of $11.19.

Cleveland-Cliffs (NYSE:CLF) last released 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 the consensus estimate of $4.46 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. Analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Insider Transactions at Cleveland-Cliffs

In other news, Director John T. Baldwin purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $8.70 per share, with a total value of $34,800.00. Following the acquisition, the director now owns 133,227 shares in the company, valued at approximately $1,159,074.90. This trade represents a 3.10 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Keith Koci acquired 9,500 shares of the company’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $10.81 per share, with a total value of $102,695.00. Following the purchase, the executive vice president now directly owns 543,475 shares in the company, valued at approximately $5,874,964.75. This represents a 1.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 23,500 shares of company stock worth $243,095. 1.76% of the stock is owned by 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.