Arete Wealth Advisors LLC Has $113,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Arete Wealth Advisors LLC cut its stake in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 87.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,041 shares of the mining company's stock after selling 83,657 shares during the period. Arete Wealth Advisors LLC's holdings in Cleveland-Cliffs were worth $113,000 at the end of the most recent reporting period.

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

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Insider Transactions at Cleveland-Cliffs

In related news, EVP Keith Koci acquired 9,500 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $10.81 per share, for a total transaction of $102,695.00. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John T. Baldwin bought 4,000 shares of Cleveland-Cliffs stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost 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. This trade represents a 3.10 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 23,500 shares of company stock valued at $243,095 over the last 90 days. 1.76% of the stock is owned by company insiders.

Cleveland-Cliffs Trading Down 2.7 %

Cleveland-Cliffs stock traded down $0.20 during midday trading on Friday, hitting $7.09. 6,788,407 shares of the stock were exchanged, compared to its average volume of 14,062,193. The stock has a market capitalization of $3.50 billion, a PE ratio of -7.31 and a beta of 1.93. The company has a fifty day simple moving average of $9.71 and a two-hundred day simple moving average of $10.90. 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 Inc. has a 52 week low of $6.17 and a 52 week high of $22.39.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last announced 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 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 research analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Analyst Ratings Changes

CLF has been the topic of several research reports. Glj Research reduced their price target on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Citigroup dropped their price objective on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating for the company in a research report on Thursday, December 19th. B. Riley reaffirmed a "buy" rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. 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. Finally, Morgan Stanley cut their price target on 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $16.24.

Cleveland-Cliffs 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.