Amundi Sells 529,376 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Amundi decreased its holdings in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 61.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 327,324 shares of the mining company's stock after selling 529,376 shares during the period. Amundi owned about 0.07% of Cleveland-Cliffs worth $3,191,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Strengthening Families & Communities LLC increased its holdings in Cleveland-Cliffs by 299.8% in the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company's stock worth $25,000 after buying an additional 1,490 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of Cleveland-Cliffs during the 3rd quarter worth $34,000. Darwin Wealth Management LLC acquired a new position in shares of Cleveland-Cliffs during the 3rd quarter worth $34,000. Byrne Asset Management LLC lifted its stake in shares of Cleveland-Cliffs by 130.0% in the 4th quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company's stock valued at $43,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in Cleveland-Cliffs in the fourth quarter worth $44,000. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CLF has been the subject of several recent analyst reports. B. Riley reiterated a "buy" rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 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. Glj Research reduced their price objective on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating for the company in a research note on Thursday, February 27th. Citigroup lowered 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, The Goldman Sachs Group cut their price objective on Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Cleveland-Cliffs currently has a consensus rating of "Hold" and an average price target of $16.43.

Insiders Place Their Bets

In other news, Director John T. Baldwin purchased 4,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were acquired 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 directly owns 133,227 shares of the company's stock, valued at $1,159,074.90. The trade was a 3.10 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Keith Koci bought 9,500 shares of Cleveland-Cliffs stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $10.81 per share, for a total transaction 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. The trade was a 1.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 23,500 shares of company stock valued at $243,095 in the last 90 days. 1.76% of the stock is currently owned by insiders.

Cleveland-Cliffs Price Performance

NYSE:CLF traded down $0.02 during trading hours on Thursday, reaching $9.54. The company had a trading volume of 15,377,285 shares, compared to its average volume of 12,621,505. The firm has a market capitalization of $4.72 billion, a PE ratio of -9.84 and a beta of 1.94. The stock has a 50-day moving average of $10.39 and a two-hundred day moving average of $11.34. Cleveland-Cliffs Inc. has a one year low of $8.50 and a one year high of $22.97. 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 - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.03). The business had revenue of $4.33 billion for 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%. Analysts forecast that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

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.