Cleveland-Cliffs Inc. (NYSE:CLF) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,176,194 shares of the mining company's stock after purchasing an additional 425,041 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.85% of Cleveland-Cliffs worth $39,256,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CLF. Prime Capital Investment Advisors LLC purchased a new stake in shares of Cleveland-Cliffs in the 3rd quarter valued at $263,000. Archer Investment Corp raised its stake in Cleveland-Cliffs by 25.8% in the third quarter. Archer Investment Corp now owns 7,799 shares of the mining company's stock valued at $100,000 after buying an additional 1,600 shares in the last quarter. Strengthening Families & Communities LLC boosted 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 valued at $25,000 after purchasing an additional 1,490 shares in the last quarter. Commerce Bank grew its position in shares of Cleveland-Cliffs by 342.8% in the 3rd quarter. Commerce Bank now owns 116,870 shares of the mining company's stock valued at $1,492,000 after buying an additional 90,477 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Cleveland-Cliffs by 28.0% during the third quarter. Advisors Asset Management Inc. now owns 19,280 shares of the mining company's stock worth $246,000 after purchasing an additional 4,215 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company's stock.

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Cleveland-Cliffs Trading Down 0.4 %

Shares of NYSE:CLF traded down $0.04 during trading on Wednesday, reaching $9.64. 14,892,288 shares of the stock were exchanged, compared to its average volume of 18,484,957. The firm's 50-day moving average price is $10.40 and its 200 day moving average price is $11.35. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of -9.93 and a beta of 1.94. Cleveland-Cliffs Inc. has a 12-month low of $8.50 and a 12-month high of $22.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings data 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). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business had revenue of $4.33 billion for the quarter, compared to analysts' expectations of $4.46 billion. On average, sell-side analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CLF has been the topic of several recent research reports. Glj Research dropped their price target 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. Citigroup cut 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 reduced their price objective on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Finally, Morgan Stanley dropped their target price on Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $16.43.

Insider Activity at Cleveland-Cliffs

In other news, Director Jane M. Cronin acquired 10,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $10.56 per share, for a total transaction of $105,600.00. Following the completion of the purchase, the director now directly owns 24,522 shares of the company's stock, valued at approximately $258,952.32. This trade represents a 68.86 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Keith Koci purchased 9,500 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $10.81 per share, with a total value of $102,695.00. Following the completion of the acquisition, the executive vice president now owns 543,475 shares in the company, valued at approximately $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 three months, insiders purchased 23,500 shares of company stock worth $243,095. Corporate insiders own 1.76% of the company's stock.

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.