National Bank of Canada FI Sells 252,802 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

National Bank of Canada FI trimmed its holdings in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 95.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,279 shares of the mining company's stock after selling 252,802 shares during the quarter. National Bank of Canada FI's holdings in Cleveland-Cliffs were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CLF. Byrne Asset Management LLC lifted its holdings in shares of Cleveland-Cliffs by 130.0% during the fourth quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company's stock valued at $43,000 after purchasing an additional 2,600 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Cleveland-Cliffs in the fourth quarter worth about $44,000. AllSquare Wealth Management LLC increased its position in shares of Cleveland-Cliffs by 24.4% in the fourth quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company's stock worth $48,000 after acquiring an additional 1,000 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Cleveland-Cliffs by 1,190.6% during the fourth quarter. GAMMA Investing LLC now owns 5,330 shares of the mining company's stock valued at $50,000 after acquiring an additional 4,917 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Cleveland-Cliffs by 487.8% in the 4th quarter. Farther Finance Advisors LLC now owns 5,990 shares of the mining company's stock valued at $56,000 after acquiring an additional 4,971 shares in the last quarter. Institutional investors own 67.68% of the company's stock.

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Cleveland-Cliffs Stock Down 0.1 %

Shares of CLF traded down $0.01 during mid-day trading on Tuesday, hitting $7.36. 2,333,509 shares of the company's stock were exchanged, compared to its average volume of 20,201,051. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of -7.59 and a beta of 1.93. The firm has a fifty day moving average of $9.58 and a two-hundred day moving average of $10.81. 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 twelve month low of $6.17 and a twelve month high of $21.79.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its 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 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 analyst estimates of $4.46 billion. On average, sell-side analysts forecast that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CLF. Glj Research lowered their price objective 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. The Goldman Sachs Group lowered their price target on Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Citigroup reduced their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, December 19th. B. Riley reiterated a "buy" rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Finally, Morgan Stanley decreased their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. One investment 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 stock. According to MarketBeat.com, Cleveland-Cliffs currently has an average rating of "Moderate Buy" and an average price target of $16.24.

Insiders Place Their Bets

In other news, Director John T. Baldwin acquired 4,000 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $8.70 per share, for a total transaction of $34,800.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jane M. Cronin acquired 10,000 shares of Cleveland-Cliffs 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 completion of the acquisition, the director now directly owns 24,522 shares in the company, valued at $258,952.32. This trade represents a 68.86 % 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 in the last three months. Company insiders own 1.76% of the company's stock.

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.