Cleveland-Cliffs Inc. (NYSE:CLF) EVP Keith Koci Purchases 9,500 Shares

Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) EVP Keith Koci purchased 9,500 shares of the company's stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $10.81 per share, with a total value of $102,695.00. Following the completion of the transaction, the executive vice president now owns 543,475 shares of the company's stock, valued at approximately $5,874,964.75. This trade represents a 1.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Cleveland-Cliffs Price Performance

Shares of CLF stock traded down $0.61 on Tuesday, reaching $9.49. The company's stock had a trading volume of 26,673,148 shares, compared to its average volume of 17,169,986. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -9.78 and a beta of 1.96. The stock's fifty day simple moving average is $10.35 and its 200-day simple moving average is $11.61. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs Inc. has a 1 year low of $8.99 and a 1 year high of $22.97.

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

Analyst Ratings Changes

Several brokerages have recently commented on CLF. Glj Research lowered their price objective 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. Morgan Stanley dropped their price target on Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. StockNews.com downgraded shares of Cleveland-Cliffs from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Citigroup cut their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, December 19th. Finally, B. Riley reiterated a "buy" rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Two equities research analysts have 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $16.43.

Institutional Investors Weigh In On Cleveland-Cliffs

Several large investors have recently added to or reduced their stakes in CLF. Strengthening Families & Communities LLC boosted its holdings in shares of Cleveland-Cliffs by 299.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company's stock worth $25,000 after purchasing an additional 1,490 shares during the period. Pinpoint Asset Management Ltd purchased a new position in Cleveland-Cliffs during the fourth quarter worth $25,000. Darwin Wealth Management LLC bought a new position in Cleveland-Cliffs during the third quarter valued at $34,000. Truvestments Capital LLC bought a new position in Cleveland-Cliffs during the third quarter valued at $34,000. Finally, Blue Trust Inc. raised its stake in shares of Cleveland-Cliffs by 231.9% in the third quarter. Blue Trust Inc. now owns 3,634 shares of the mining company's stock valued at $46,000 after acquiring an additional 2,539 shares during the period. 67.68% of the stock is owned by institutional investors.

About Cleveland-Cliffs

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.