SG Americas Securities LLC Acquires 94,001 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

SG Americas Securities LLC boosted its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 226.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,587 shares of the mining company's stock after acquiring an additional 94,001 shares during the quarter. SG Americas Securities LLC's holdings in Cleveland-Cliffs were worth $1,115,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Pinpoint Asset Management Ltd acquired a new stake in shares of Cleveland-Cliffs in the fourth quarter valued at $25,000. Estabrook Capital Management increased its stake in shares of Cleveland-Cliffs by 207.7% in 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 in the last quarter. AllSquare Wealth Management LLC increased its stake in shares of Cleveland-Cliffs by 24.4% in 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 in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Cleveland-Cliffs by 487.8% in 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 in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Cleveland-Cliffs by 21.3% in the fourth quarter. Jones Financial Companies Lllp now owns 6,723 shares of the mining company's stock valued at $63,000 after buying an additional 1,182 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cleveland-Cliffs news, EVP James D. Graham sold 120,000 shares of the firm's stock in a transaction dated 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 owns 492,249 shares in the company, valued at approximately $3,371,905.65. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.71% of the company's stock.

Cleveland-Cliffs Trading Down 4.7%

CLF stock traded down $0.35 during midday trading on Friday, reaching $6.99. The stock had a trading volume of 44,241,749 shares, compared to its average volume of 18,333,031. The business has a fifty day simple moving average of $7.41 and a two-hundred day simple moving average of $9.02. The company has a quick ratio of 0.64, a current ratio of 2.13 and a debt-to-equity ratio of 1.17. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -2.86 and a beta of 1.85. Cleveland-Cliffs Inc. has a twelve month low of $5.63 and a twelve month high of $16.47.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The mining company reported ($0.92) EPS for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.14). The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.71 billion. Cleveland-Cliffs had a negative return on equity of 12.84% and a negative net margin of 6.35%. Cleveland-Cliffs's revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. As a group, research analysts expect that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley raised their target price on Cleveland-Cliffs from $7.50 to $8.00 and gave the company an "equal weight" rating in a research note on Friday. Glj Research lowered Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 target price for the company. in a research note on Wednesday, May 28th. The Goldman Sachs Group lowered their target price on Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, B. Riley restated 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $11.53.

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.