4WEALTH Advisors Inc. Acquires New Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

4WEALTH Advisors Inc. purchased a new position in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 49,200 shares of the mining company's stock, valued at approximately $404,000.

Other institutional investors have also recently bought and sold shares of the company. Summit Investment Advisors Inc. lifted its holdings in shares of Cleveland-Cliffs by 1.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 96,956 shares of the mining company's stock valued at $911,000 after acquiring an additional 932 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Cleveland-Cliffs by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 135,600 shares of the mining company's stock valued at $1,115,000 after acquiring an additional 1,200 shares during the period. Ancora Advisors LLC lifted its holdings in shares of Cleveland-Cliffs by 5.4% during the fourth quarter. Ancora Advisors LLC now owns 28,357 shares of the mining company's stock valued at $267,000 after acquiring an additional 1,450 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Cleveland-Cliffs by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 56,665 shares of the mining company's stock valued at $465,000 after acquiring an additional 1,475 shares during the period. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Cleveland-Cliffs by 9.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 17,848 shares of the mining company's stock valued at $168,000 after acquiring an additional 1,479 shares during the period. Institutional investors and hedge funds own 67.68% of the company's stock.

Analyst Upgrades and Downgrades

CLF has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price objective on Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating for the company in a report on Monday, May 12th. JPMorgan Chase & Co. lifted their price target on Cleveland-Cliffs from $7.50 to $10.00 and gave the company a "neutral" rating in a report on Thursday. KeyCorp raised Cleveland-Cliffs from a "sector weight" rating to an "overweight" rating and set a $14.00 price target for the company in a report on Tuesday. B. Riley reaffirmed a "buy" rating and issued a $17.00 price target (down from $20.00) on shares of Cleveland-Cliffs in a report on Wednesday, April 23rd. Finally, Morgan Stanley lifted their price target on Cleveland-Cliffs from $8.00 to $10.50 and gave the company an "equal weight" rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cleveland-Cliffs presently has an average rating of "Hold" and an average price target of $11.09.

Insider Activity

In other news, EVP James D. Graham sold 120,000 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $6.85, for a total transaction of $822,000.00. Following the completion of the transaction, the executive vice president directly owned 492,249 shares in the company, valued at approximately $3,371,905.65. The trade was a 19.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.71% of the company's stock.

Cleveland-Cliffs Trading Down 3.7%

NYSE:CLF traded down $0.42 on Thursday, hitting $10.86. 11,253,126 shares of the stock were exchanged, compared to its average volume of 25,852,336. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of -3.18 and a beta of 1.91. Cleveland-Cliffs Inc. has a 52 week low of $5.63 and a 52 week high of $15.71. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.64 and a current ratio of 2.04. The company's 50-day moving average price is $7.92 and its 200 day moving average price is $8.82.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The mining company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.18. The firm had revenue of $4.93 billion during the quarter, compared to analysts' expectations of $4.90 billion. Cleveland-Cliffs had a negative return on equity of 17.97% and a negative net margin of 9.03%. The company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. On average, equities research analysts forecast that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

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.