Cleveland-Cliffs Inc. (NYSE:CLF) Shares Bought by Jump Financial LLC

Jump Financial LLC boosted its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 89.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 648,730 shares of the mining company's stock after buying an additional 306,961 shares during the period. Jump Financial LLC owned 0.13% of Cleveland-Cliffs worth $6,098,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Cleveland-Cliffs by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company's stock valued at $458,267,000 after acquiring an additional 2,556,332 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cleveland-Cliffs by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 8,466,747 shares of the mining company's stock valued at $79,611,000 after purchasing an additional 264,078 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Cleveland-Cliffs by 20.1% in the 4th quarter. Bank of New York Mellon Corp now owns 7,382,769 shares of the mining company's stock worth $69,398,000 after purchasing an additional 1,236,247 shares in the last quarter. Norges Bank purchased a new position in Cleveland-Cliffs during the 4th quarter worth $45,381,000. Finally, Drexel Morgan & Co. increased its position in Cleveland-Cliffs by 34.4% during the 4th quarter. Drexel Morgan & Co. now owns 4,300,395 shares of the mining company's stock valued at $40,424,000 after buying an additional 1,100,000 shares in the last quarter. Institutional investors own 67.68% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CLF. 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 note on Thursday, February 27th. The Goldman Sachs Group decreased their price target on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. B. Riley reissued a "buy" rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. Finally, Morgan Stanley lowered their price target 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $16.24.

Cleveland-Cliffs Trading Up 1.8 %

Shares of CLF stock traded up $0.13 during trading hours on Friday, hitting $7.31. The company had a trading volume of 14,920,815 shares, compared to its average volume of 14,288,983. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The stock has a market capitalization of $3.61 billion, a PE ratio of -7.54 and a beta of 1.93. The company's fifty day moving average is $9.29 and its 200 day moving average is $10.69. Cleveland-Cliffs Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $21.15.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The mining company reported ($0.68) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.46 billion. Research analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cleveland-Cliffs news, Director Jane M. Cronin bought 10,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $10.56 per share, with a total value of $105,600.00. Following the acquisition, the director now directly 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John T. Baldwin purchased 4,000 shares of the firm's stock in a transaction that occurred on 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 purchase, the director now owns 133,227 shares in the company, valued at $1,159,074.90. This trade represents a 3.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 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.