Cleveland-Cliffs Inc. (NYSE:CLF) Stock Holdings Boosted by D.A. Davidson & CO.

D.A. Davidson & CO. lifted its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 54.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 181,350 shares of the mining company's stock after acquiring an additional 64,090 shares during the period. D.A. Davidson & CO.'s holdings in Cleveland-Cliffs were worth $1,491,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new position in shares of Cleveland-Cliffs in the 1st quarter valued at approximately $593,000. Private Trust Co. NA boosted its position in Cleveland-Cliffs by 33.7% during the first quarter. Private Trust Co. NA now owns 53,531 shares of the mining company's stock worth $440,000 after purchasing an additional 13,500 shares in the last quarter. Clear Creek Financial Management LLC raised its holdings in shares of Cleveland-Cliffs by 71.4% in the first quarter. Clear Creek Financial Management LLC now owns 25,200 shares of the mining company's stock worth $207,000 after acquiring an additional 10,500 shares during the last quarter. Cidel Asset Management Inc. acquired a new position in shares of Cleveland-Cliffs in the first quarter worth $89,000. Finally, Vontobel Holding Ltd. raised its holdings in shares of Cleveland-Cliffs by 71.0% in the first quarter. Vontobel Holding Ltd. now owns 88,942 shares of the mining company's stock worth $731,000 after acquiring an additional 36,923 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company's stock.

Cleveland-Cliffs Stock Performance

Shares of Cleveland-Cliffs stock traded up $0.09 on Friday, reaching $9.86. 21,268,448 shares of the company were exchanged, compared to its average volume of 19,526,040. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.64 and a current ratio of 2.13. The company's 50-day moving average is $7.57 and its two-hundred day moving average is $8.79. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of -4.04 and a beta of 1.91. Cleveland-Cliffs Inc. has a 1-year low of $5.63 and a 1-year high of $16.47.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its earnings results on Wednesday, May 7th. The mining company reported ($0.92) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $4.71 billion. During the same quarter in the prior year, the business earned $0.18 earnings per share. The firm's revenue was down 11.0% compared to the same quarter last year. As a group, research analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

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 value of $822,000.00. Following the sale, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.71% of the stock is currently owned by corporate insiders.

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.