Cleveland-Cliffs Inc. $CLF Shares Purchased by Edmond DE Rothschild Holding S.A.

Key Points

• Edmond DE Rothschild Holding S.A. increased its stake in Cleveland-Cliffs Inc. by 9.8%, acquiring an additional 105,000 shares during the first quarter, bringing its total holdings to approximately 1,180,000 shares.
• Cleveland-Cliffs reported a quarterly loss of ($0.50) earnings per share, exceeding expectations, with a revenue of $4.93 billion during the quarter.
• Several analysts have altered their ratings on Cleveland-Cliffs, with a consensus rating of "Hold" and an average target price of $10.96.

Edmond DE Rothschild Holding S.A. raised its stake in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,180,000 shares of the mining company's stock after buying an additional 105,000 shares during the period. Edmond DE Rothschild Holding S.A. owned about 0.24% of Cleveland-Cliffs worth $9,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System boosted its position in Cleveland-Cliffs by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 135,600 shares of the mining company's stock valued at $1,115,000 after buying an additional 1,200 shares during the period. Pinnacle Holdings LLC boosted its position in Cleveland-Cliffs by 1.3% in the 1st quarter. Pinnacle Holdings LLC now owns 105,791 shares of the mining company's stock valued at $870,000 after buying an additional 1,371 shares during the period. State of Alaska Department of Revenue boosted its position in Cleveland-Cliffs by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 56,665 shares of the mining company's stock valued at $465,000 after buying an additional 1,475 shares during the period. Hunter Associates Investment Management LLC lifted its position in shares of Cleveland-Cliffs by 3.1% in the 1st quarter. Hunter Associates Investment Management LLC now owns 49,400 shares of the mining company's stock worth $406,000 after purchasing an additional 1,500 shares during the period. Finally, Capital Investment Advisory Services LLC lifted its position in shares of Cleveland-Cliffs by 7.1% in the 1st quarter. Capital Investment Advisory Services LLC now owns 24,125 shares of the mining company's stock worth $198,000 after purchasing an additional 1,600 shares during the period. 67.68% of the stock is owned by hedge funds and other institutional investors.

Cleveland-Cliffs Stock Performance

Shares of NYSE:CLF traded up $0.88 during midday trading on Friday, reaching $11.40. The company's stock had a trading volume of 22,954,615 shares, compared to its average volume of 15,825,104. The firm has a market capitalization of $5.64 billion, a PE ratio of -3.34 and a beta of 1.93. Cleveland-Cliffs Inc. has a twelve month low of $5.63 and a twelve month high of $14.34. The stock has a fifty day moving average of $10.02 and a 200 day moving average of $8.78. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.28.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The mining company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.18. The company had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.90 billion. Cleveland-Cliffs had a negative net margin of 9.03% and a negative return on equity of 17.97%. The firm's revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business earned $0.11 earnings per share. On average, equities analysts expect that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CLF. JPMorgan Chase & Co. upped their price target on shares of Cleveland-Cliffs from $7.50 to $10.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Citigroup upped their price target on shares of Cleveland-Cliffs from $7.50 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. The Goldman Sachs Group lowered their price target on shares of Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating for the company in a research report on Monday, May 12th. Morgan Stanley upped their price target on shares of Cleveland-Cliffs from $8.00 to $10.50 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Finally, Glj Research cut shares of Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 price target for the company. in a research report on Wednesday, May 28th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Cleveland-Cliffs currently has a consensus rating of "Hold" and an average price target of $10.96.

Cleveland-Cliffs 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.