Cleveland-Cliffs Inc. (NYSE:CLF) Shares Bought by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. increased its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 35.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 233,356 shares of the mining company's stock after purchasing an additional 60,714 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Cleveland-Cliffs were worth $1,918,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Slate Path Capital LP grew its holdings in Cleveland-Cliffs by 35.4% in the 4th quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company's stock valued at $152,355,000 after buying an additional 4,239,000 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in 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 valued at $69,398,000 after buying an additional 1,236,247 shares in the last quarter. Vanguard Group Inc. grew its holdings in Cleveland-Cliffs by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company's stock valued at $458,267,000 after buying an additional 2,556,332 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Cleveland-Cliffs by 22.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,298,868 shares of the mining company's stock valued at $12,209,000 after buying an additional 242,386 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cleveland-Cliffs in the 4th quarter valued at $4,432,000. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CLF. Morgan Stanley upped their price target on Cleveland-Cliffs from $7.50 to $8.00 and gave the company an "equal weight" rating in a research note on Friday, June 20th. The Goldman Sachs Group cut their price target on Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating on the stock in a report on Monday, May 12th. B. Riley restated a "buy" rating and set a $17.00 price target (down previously from $20.00) on shares of Cleveland-Cliffs in a report on Wednesday, April 23rd. Finally, Glj Research downgraded Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 price target on the stock. in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Cleveland-Cliffs has a consensus rating of "Hold" and a consensus price target of $10.23.

Cleveland-Cliffs Stock Up 0.1%

Shares of CLF traded up $0.01 during mid-day trading on Friday, reaching $8.77. The company's stock had a trading volume of 24,914,896 shares, compared to its average volume of 19,133,140. Cleveland-Cliffs Inc. has a 12-month low of $5.63 and a 12-month high of $16.47. The stock has a market cap of $4.34 billion, a PE ratio of -3.59 and a beta of 1.91. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.13 and a quick ratio of 0.64. The company's 50 day moving average is $7.49 and its 200 day moving average is $8.79.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The mining company reported ($0.92) EPS for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.14). Cleveland-Cliffs had a negative net margin of 6.35% and a negative return on equity of 12.84%. The business had revenue of $4.63 billion during the quarter, compared to analysts' expectations of $4.71 billion. During the same quarter in the previous year, the company posted $0.18 EPS. The company's revenue was down 11.0% compared to the same quarter last year. Equities analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Insider Transactions at Cleveland-Cliffs

In related news, EVP James D. Graham sold 120,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $6.85, for a total transaction of $822,000.00. Following the transaction, the executive vice president owned 492,249 shares in the company, valued at $3,371,905.65. This trade represents a 19.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.71% of the stock is owned by corporate insiders.

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.