Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC lowered its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,554 shares of the mining company’s stock after selling 2,056 shares during the period. KCM Investment Advisors LLC’s holdings in Cleveland-Cliffs were worth $156,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CLF. Vanguard Group Inc. raised its position in shares of Cleveland-Cliffs by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company’s stock worth $458,267,000 after purchasing an additional 2,556,332 shares during the period. Geode Capital Management LLC increased its stake in Cleveland-Cliffs by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 8,466,747 shares of the mining company’s stock worth $79,611,000 after purchasing an additional 264,078 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Cleveland-Cliffs by 20.1% during the 4th quarter. Bank of New York Mellon Corp now owns 7,382,769 shares of the mining company’s stock worth $69,398,000 after buying an additional 1,236,247 shares during the period. Norges Bank purchased a new stake in Cleveland-Cliffs during the fourth quarter valued at about $45,381,000. Finally, Drexel Morgan & Co. boosted its holdings in shares of Cleveland-Cliffs by 34.4% in the fourth quarter. Drexel Morgan & Co. now owns 4,300,395 shares of the mining company’s stock worth $40,424,000 after buying an additional 1,100,000 shares during the period. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Down 4.8 %

Shares of CLF stock opened at $6.91 on Monday. Cleveland-Cliffs Inc. has a 12 month low of $6.17 and a 12 month high of $22.67. The company has a market cap of $3.42 billion, a PE ratio of -7.13 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’s 50 day moving average is $10.04 and its two-hundred day moving average is $11.08.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities analysts predict that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CLF shares. B. Riley restated a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. The Goldman Sachs Group cut their target price on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley decreased their target price on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Citigroup dropped their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Finally, Glj Research decreased their price objective on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.43.

Insider Transactions at Cleveland-Cliffs

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

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.