KMG Fiduciary Partners LLC Increases Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

KMG Fiduciary Partners LLC lifted its position in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 16.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,025 shares of the mining company's stock after acquiring an additional 37,994 shares during the quarter. KMG Fiduciary Partners LLC owned approximately 0.06% of Cleveland-Cliffs worth $2,261,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pinpoint Asset Management Ltd purchased a new stake in Cleveland-Cliffs during the fourth quarter valued at about $25,000. Estabrook Capital Management increased its position in shares of Cleveland-Cliffs by 207.7% during the fourth quarter. Estabrook Capital Management now owns 4,000 shares of the mining company's stock valued at $38,000 after buying an additional 2,700 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of Cleveland-Cliffs during the fourth quarter valued at about $44,000. AllSquare Wealth Management LLC increased its position in shares of Cleveland-Cliffs by 24.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company's stock valued at $48,000 after buying an additional 1,000 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Cleveland-Cliffs by 487.8% during the fourth quarter. Farther Finance Advisors LLC now owns 5,990 shares of the mining company's stock valued at $56,000 after buying an additional 4,971 shares during the period. Institutional investors own 67.68% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Glj Research cut Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 price target on the stock. in a research report on Wednesday, May 28th. The Goldman Sachs Group decreased their price target on Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, B. Riley restated a "buy" rating and issued a $17.00 price objective (down from $20.00) on shares of Cleveland-Cliffs in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $12.74.

Insider Buying and Selling at Cleveland-Cliffs

In other news, EVP James D. Graham sold 120,000 shares of the 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 completion of the sale, the executive vice president now owns 492,249 shares of the company's stock, valued at approximately $3,371,905.65. This represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.71% of the company's stock.

Cleveland-Cliffs Price Performance

Shares of CLF stock traded up $0.25 during trading on Tuesday, hitting $8.03. The company had a trading volume of 43,406,764 shares, compared to its average volume of 17,724,028. Cleveland-Cliffs Inc. has a 52 week low of $5.63 and a 52 week high of $16.47. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The stock's 50-day moving average is $7.40 and its two-hundred day moving average is $9.31. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -8.27 and a beta of 1.85.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last issued its quarterly earnings results 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 2.31% and a negative return on equity of 0.59%. The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. The firm's revenue was down 11.0% on a year-over-year basis. As a group, analysts predict that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

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.