Cleveland-Cliffs Inc. (NYSE:CLF) Director Acquires $34,800.00 in Stock

Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) Director John T. Baldwin acquired 4,000 shares of the company's stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $8.70 per share, for a total transaction of $34,800.00. Following the purchase, the director now directly owns 133,227 shares in the company, valued at approximately $1,159,074.90. This represents a 3.10 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

Cleveland-Cliffs Stock Up 5.7 %

Shares of NYSE CLF traded up $0.56 during mid-day trading on Friday, reaching $10.29. The company had a trading volume of 10,876,202 shares, compared to its average volume of 18,379,051. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of -10.65 and a beta of 1.94. The stock has a fifty day moving average of $10.38 and a two-hundred day moving average of $11.45. Cleveland-Cliffs Inc. has a 12-month low of $8.50 and a 12-month high of $22.97.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The mining company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.03). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The company had revenue of $4.33 billion for the quarter, compared to analysts' expectations of $4.46 billion. As a group, equities research analysts expect that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CLF. The Goldman Sachs Group dropped their price target on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. B. Riley reissued 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 report on Thursday, December 19th. Glj Research cut 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. Finally, Morgan Stanley decreased their target price on 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 research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $16.43.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CLF. 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. Pinpoint Asset Management Ltd acquired a new stake in shares of Cleveland-Cliffs in the 4th quarter valued at $25,000. Darwin Wealth Management LLC acquired a new stake in Cleveland-Cliffs in the 3rd quarter worth approximately $34,000. Truvestments Capital LLC bought a new position in shares of Cleveland-Cliffs in the third quarter valued at approximately $34,000. Finally, Estabrook Capital Management lifted its stake in shares of Cleveland-Cliffs by 207.7% in the fourth quarter. Estabrook Capital Management now owns 4,000 shares of the mining company's stock worth $38,000 after buying an additional 2,700 shares during the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

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.