American Century Companies Inc. Acquires 2,079,589 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

American Century Companies Inc. increased its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 135.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,615,774 shares of the mining company's stock after acquiring an additional 2,079,589 shares during the period. American Century Companies Inc. owned about 0.73% of Cleveland-Cliffs worth $33,988,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. AllSquare Wealth Management LLC increased its position in Cleveland-Cliffs by 24.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company's stock worth $48,000 after acquiring an additional 1,000 shares during the period. MRP Capital Investments LLC boosted its holdings in Cleveland-Cliffs by 10.0% in the 4th quarter. MRP Capital Investments LLC now owns 11,000 shares of the mining company's stock valued at $103,000 after purchasing an additional 1,000 shares during the period. Jones Financial Companies Lllp grew its position in Cleveland-Cliffs by 21.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,723 shares of the mining company's stock worth $63,000 after purchasing an additional 1,182 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Cleveland-Cliffs by 11.0% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 13,270 shares of the mining company's stock worth $125,000 after purchasing an additional 1,313 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in shares of Cleveland-Cliffs by 9.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 17,848 shares of the mining company's stock valued at $168,000 after buying an additional 1,479 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Glj Research decreased their target price on Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group decreased their price objective on Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. B. Riley restated a "buy" rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. Citigroup decreased 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 note on Thursday, December 19th. Finally, Morgan Stanley lowered 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 report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $16.43.

Insider Buying and Selling at Cleveland-Cliffs

In related news, Director Jane M. Cronin acquired 10,000 shares of the stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $10.56 per share, for a total transaction of $105,600.00. Following the transaction, the director now owns 24,522 shares of the company's stock, valued at $258,952.32. The trade was a 68.86 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Keith Koci bought 9,500 shares of Cleveland-Cliffs stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $10.81 per share, for a total transaction of $102,695.00. Following the completion of the transaction, the executive vice president now directly owns 543,475 shares of the company's stock, valued at $5,874,964.75. This represents a 1.78 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 23,500 shares of company stock worth $243,095. 1.76% of the stock is currently owned by insiders.

Cleveland-Cliffs Price Performance

Shares of Cleveland-Cliffs stock traded down $0.13 during mid-day trading on Tuesday, reaching $8.09. 26,758,374 shares of the stock were exchanged, compared to its average volume of 13,362,052. The company has a market cap of $4.00 billion, a price-to-earnings ratio of -8.34 and a beta of 1.94. Cleveland-Cliffs Inc. has a fifty-two week low of $7.87 and a fifty-two week high of $22.97. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The firm has a 50-day simple moving average of $10.18 and a 200 day simple moving average of $11.16.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its quarterly earnings data 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 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%. On average, sell-side analysts predict that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

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.