Barclays PLC Buys 151,284 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Barclays PLC boosted its position in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,264,621 shares of the mining company's stock after purchasing an additional 151,284 shares during the period. Barclays PLC owned approximately 0.66% of Cleveland-Cliffs worth $30,687,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CLF. Summit Investment Advisors Inc. lifted its position in Cleveland-Cliffs by 1.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 96,956 shares of the mining company's stock worth $911,000 after buying an additional 932 shares in the last quarter. Petros Family Wealth LLC bought a new stake in shares of Cleveland-Cliffs in the fourth quarter valued at approximately $144,000. Sterling Capital Management LLC lifted its holdings in shares of Cleveland-Cliffs by 49.0% during the 4th quarter. Sterling Capital Management LLC now owns 22,036 shares of the mining company's stock worth $207,000 after acquiring an additional 7,246 shares during the period. Kennedy Capital Management LLC bought a new position in shares of Cleveland-Cliffs during the 4th quarter worth approximately $2,480,000. Finally, Treasurer of the State of North Carolina lifted its holdings in Cleveland-Cliffs by 5.2% during the 4th quarter. Treasurer of the State of North Carolina now owns 211,869 shares of the mining company's stock valued at $1,992,000 after purchasing an additional 10,560 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company's stock.

Insiders Place Their Bets

In related news, EVP Keith Koci bought 9,500 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $10.81 per share, for a total transaction of $102,695.00. Following the completion of the purchase, the executive vice president now owns 543,475 shares in the company, valued at $5,874,964.75. This represents a 1.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jane M. Cronin bought 10,000 shares of the stock in a transaction dated Friday, February 28th. The shares were bought 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 of the company's stock, valued at approximately $258,952.32. The trade was a 68.86 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 23,500 shares of company stock worth $243,095. Company insiders own 1.76% of the company's stock.

Cleveland-Cliffs Trading Up 1.7 %

CLF traded up $0.13 on Thursday, hitting $7.67. The company had a trading volume of 5,834,885 shares, compared to its average volume of 14,250,294. Cleveland-Cliffs Inc. has a 12-month low of $6.17 and a 12-month high of $18.82. The company has a market cap of $3.79 billion, a PE ratio of -7.89 and a beta of 1.93. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The business's fifty day simple moving average is $9.05 and its 200 day simple moving average is $10.57.

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

Analysts Set New Price Targets

CLF has been the topic of several recent research reports. Glj Research reduced their target price on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating on the stock in a research note on Thursday, February 27th. 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. The Goldman Sachs Group cut their price objective 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. Finally, B. Riley reissued a "buy" rating and issued a $17.00 price target (down previously from $20.00) on shares of Cleveland-Cliffs in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cleveland-Cliffs has a consensus rating of "Moderate Buy" and an average price target of $15.49.

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.