Terril Brothers Inc. Sells 604,675 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Key Points

• Terril Brothers Inc. reduced its stake in Cleveland-Cliffs Inc. by 57.5%, selling 604,675 shares and retaining ownership of 446,190 shares.
• Several institutional investors, including Slate Path Capital and Twelve Points Wealth Management, have increased their positions in Cleveland-Cliffs, with holdings rising significantly during the 4th quarter.
• Cleveland-Cliffs reported earnings of ($0.50) per share for its latest quarter, surpassing analysts' expectations, and had a revenue of $4.93 billion, reflecting a 7.5% year-over-year increase.

Terril Brothers Inc. decreased its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 57.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 446,190 shares of the mining company's stock after selling 604,675 shares during the period. Cleveland-Cliffs makes up 1.7% of Terril Brothers Inc.'s holdings, making the stock its 17th largest position. Terril Brothers Inc. owned 0.09% of Cleveland-Cliffs worth $3,668,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Slate Path Capital LP increased its position in shares of Cleveland-Cliffs by 35.4% in the 4th quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company's stock valued at $152,355,000 after buying an additional 4,239,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 purchasing an additional 242,386 shares in the last quarter. Twelve Points Wealth Management LLC increased its holdings in Cleveland-Cliffs by 51.7% during the 1st quarter. Twelve Points Wealth Management LLC now owns 225,499 shares of the mining company's stock worth $1,854,000 after purchasing an additional 76,827 shares in the last quarter. Wexford Capital LP increased its holdings in 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 purchasing an additional 941,284 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd. Can bought a new position in Cleveland-Cliffs during the 4th quarter worth about $55,453,000. Institutional investors own 67.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CLF. Citigroup increased their target price on Cleveland-Cliffs from $7.50 to $11.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. The Goldman Sachs Group reduced their price objective on shares of Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating for the company in a research note on Monday, May 12th. KeyCorp upgraded shares of Cleveland-Cliffs from a "sector weight" rating to an "overweight" rating and set a $14.00 price objective for the company in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of Cleveland-Cliffs from $7.50 to $10.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley raised their target price on shares of Cleveland-Cliffs from $8.00 to $10.50 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cleveland-Cliffs currently has a consensus rating of "Hold" and an average target price of $11.09.

Cleveland-Cliffs Trading Up 1.8%

Shares of NYSE:CLF opened at $9.73 on Tuesday. Cleveland-Cliffs Inc. has a 52-week low of $5.63 and a 52-week high of $14.34. The company has a market capitalization of $4.81 billion, a P/E ratio of -2.85 and a beta of 1.99. The company has a 50-day simple moving average of $8.81 and a 200 day simple moving average of $8.82. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.61 and a current ratio of 2.04.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The mining company reported ($0.50) earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the business earned $0.11 earnings per share. The firm's quarterly revenue was up 7.5% on a year-over-year basis. Sell-side analysts forecast that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Insider Buying and Selling at Cleveland-Cliffs

In other 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 directly owned 492,249 shares in the company, valued at approximately $3,371,905.65. The trade was a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.76% of the company's stock.

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.

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