Jefferies Financial Group Inc. Boosts Stock Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Jefferies Financial Group Inc. grew its stake in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 1,151.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,037 shares of the mining company's stock after purchasing an additional 138,047 shares during the period. Jefferies Financial Group Inc.'s holdings in Cleveland-Cliffs were worth $1,410,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Cleveland-Cliffs during the 4th quarter worth approximately $407,000. Toronto Dominion Bank lifted its stake in shares of Cleveland-Cliffs by 9,170.9% during the 4th quarter. Toronto Dominion Bank now owns 69,995 shares of the mining company's stock worth $658,000 after acquiring an additional 69,240 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cleveland-Cliffs by 22.9% during 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 worth $12,209,000 after acquiring an additional 242,386 shares during the last quarter. Wexford Capital LP lifted its stake in shares of Cleveland-Cliffs by 1,212.0% during the 4th quarter. Wexford Capital LP now owns 1,018,950 shares of the mining company's stock worth $9,578,000 after acquiring an additional 941,284 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of Cleveland-Cliffs by 53.7% during the 4th quarter. Tidal Investments LLC now owns 54,872 shares of the mining company's stock worth $516,000 after acquiring an additional 19,167 shares during the last quarter. 67.68% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP James D. Graham sold 120,000 shares of the business's stock in a transaction 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 now directly owns 492,249 shares in the company, valued at $3,371,905.65. The trade was a 19.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John T. Baldwin bought 4,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of $8.70 per share, for a total transaction of $34,800.00. Following the completion of the purchase, the director now owns 133,227 shares in the company, valued at $1,159,074.90. The trade was a 3.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.76% of the company's stock.

Cleveland-Cliffs Stock Down 0.8%

Shares of NYSE:CLF traded down $0.05 on Friday, reaching $5.85. The company had a trading volume of 35,132,332 shares, compared to its average volume of 16,155,549. Cleveland-Cliffs Inc. has a 52-week low of $5.64 and a 52-week high of $17.41. The firm's 50 day simple moving average is $7.54 and its 200-day simple moving average is $9.52. The firm has a market capitalization of $2.89 billion, a PE ratio of -6.03 and a beta of 2.03. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The mining company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.14). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The company had revenue of $4.63 billion during the quarter, compared to analysts' expectations of $4.71 billion. During the same quarter in the prior year, the business posted $0.18 earnings per share. The company's revenue was down 11.0% compared to the same quarter last year. As a group, analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CLF has been the subject of a number of research analyst reports. B. Riley reissued a "buy" rating and set a $17.00 price target (down from $20.00) on shares of Cleveland-Cliffs in a research note on Wednesday, April 23rd. Glj Research downgraded Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 price objective on the stock. in a report on Wednesday. Morgan Stanley reduced their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. Finally, The Goldman Sachs Group reduced their price objective on Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating on the stock in a report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $12.74.

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.