Cwm LLC Acquires 40,774 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

CWM LLC lifted its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 316.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,671 shares of the mining company's stock after purchasing an additional 40,774 shares during the quarter. CWM LLC's holdings in Cleveland-Cliffs were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Fairfax Financial Holdings Ltd. Can bought a new stake in Cleveland-Cliffs in the fourth quarter valued at about $55,453,000. Norges Bank bought a new stake in shares of Cleveland-Cliffs in the fourth quarter worth about $45,381,000. Slate Path Capital LP increased its holdings in shares of Cleveland-Cliffs by 35.4% in the fourth quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company's stock worth $152,355,000 after acquiring an additional 4,239,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Cleveland-Cliffs by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company's stock worth $458,267,000 after acquiring an additional 2,556,332 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Cleveland-Cliffs by 135.4% in the fourth quarter. American Century Companies Inc. now owns 3,615,774 shares of the mining company's stock worth $33,988,000 after acquiring an additional 2,079,589 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company's stock.

Insider Buying and Selling

In other Cleveland-Cliffs news, EVP James D. Graham sold 120,000 shares of Cleveland-Cliffs stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $6.85, for a total value of $822,000.00. Following the completion of the sale, the executive vice president owned 492,249 shares of the company's stock, valued at approximately $3,371,905.65. The trade was a 19.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.71% of the company's stock.

Cleveland-Cliffs Trading Up 4.8%

Shares of NYSE CLF traded up $0.53 during trading hours on Friday, hitting $11.44. The company's stock had a trading volume of 28,309,127 shares, compared to its average volume of 30,815,626. 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 stock has a market cap of $5.66 billion, a price-to-earnings ratio of -3.35 and a beta of 1.91. Cleveland-Cliffs Inc. has a 12 month low of $5.63 and a 12 month high of $15.71. The business has a 50-day simple moving average of $7.99 and a 200-day simple moving average of $8.83.

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

Analyst Upgrades and Downgrades

CLF has been the subject of a number of research reports. Glj Research downgraded Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 price objective for the company. in a report on Wednesday, May 28th. Citigroup increased their price target on Cleveland-Cliffs from $7.50 to $11.00 and gave the company a "neutral" rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on Cleveland-Cliffs from $7.50 to $10.00 and gave the company a "neutral" rating in a research report on Thursday. Morgan Stanley increased their price target on Cleveland-Cliffs from $8.00 to $10.50 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, 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 research report on Tuesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $11.09.

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.