Cleveland-Cliffs Inc. (NYSE:CLF) Shares Bought by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC lifted its holdings in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 51.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 225,499 shares of the mining company's stock after buying an additional 76,827 shares during the quarter. Twelve Points Wealth Management LLC's holdings in Cleveland-Cliffs were worth $1,854,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CLF. Fairfax Financial Holdings Ltd. Can purchased a new position in Cleveland-Cliffs during the 4th quarter worth $55,453,000. Norges Bank purchased a new position in Cleveland-Cliffs during the 4th quarter worth $45,381,000. Slate Path Capital LP increased its holdings in Cleveland-Cliffs by 35.4% during the 4th quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company's stock worth $152,355,000 after purchasing an additional 4,239,000 shares during the period. Vanguard Group Inc. increased its holdings in Cleveland-Cliffs by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company's stock worth $458,267,000 after purchasing an additional 2,556,332 shares during the period. Finally, American Century Companies Inc. increased its holdings in Cleveland-Cliffs by 135.4% during the 4th quarter. American Century Companies Inc. now owns 3,615,774 shares of the mining company's stock worth $33,988,000 after purchasing an additional 2,079,589 shares during the period. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cleveland-Cliffs news, EVP James D. Graham sold 120,000 shares of Cleveland-Cliffs 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 completion of the sale, the executive vice president owned 492,249 shares of the company's stock, valued at approximately $3,371,905.65. The trade was a 19.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.71% of the company's stock.

Cleveland-Cliffs Stock Up 0.9%

Shares of CLF traded up $0.09 during mid-day trading on Friday, hitting $9.86. 21,268,448 shares of the company traded hands, compared to its average volume of 19,570,078. Cleveland-Cliffs Inc. has a 1-year low of $5.63 and a 1-year high of $16.47. 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 company has a market capitalization of $4.88 billion, a PE ratio of -4.04 and a beta of 1.91. The business has a 50 day moving average of $7.57 and a 200 day moving average of $8.78.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The mining company reported ($0.92) earnings per share (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 company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same quarter last year, the company earned $0.18 EPS. The business's revenue was down 11.0% compared to the same quarter last year. Equities research analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. The Goldman Sachs Group dropped their target price 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. B. Riley reaffirmed a "buy" rating and set a $17.00 target price (down previously from $20.00) on shares of Cleveland-Cliffs in a research report on Wednesday, April 23rd. Glj Research cut Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 target price on the stock. in a research report on Wednesday, May 28th. Finally, Morgan Stanley increased their target price on Cleveland-Cliffs from $7.50 to $8.00 and gave the company an "equal weight" rating in a research report on Friday, June 20th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $10.23.

Cleveland-Cliffs 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.