Vontobel Holding Ltd. Has $731,000 Stock Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Vontobel Holding Ltd. increased its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 71.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,942 shares of the mining company's stock after purchasing an additional 36,923 shares during the quarter. Vontobel Holding Ltd.'s holdings in Cleveland-Cliffs were worth $731,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLF. Vanguard Group Inc. grew its holdings in Cleveland-Cliffs by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company's stock valued at $458,267,000 after buying an additional 2,556,332 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Cleveland-Cliffs by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,247,426 shares of the mining company's stock valued at $199,724,000 after purchasing an additional 647,282 shares in the last quarter. Slate Path Capital LP lifted its stake 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 purchasing an additional 4,239,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Cleveland-Cliffs by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 8,466,747 shares of the mining company's stock valued at $79,611,000 after purchasing an additional 264,078 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd. Can acquired a new position in shares of Cleveland-Cliffs in the 4th quarter valued at about $55,453,000. Hedge funds and other institutional investors own 67.68% of the company's stock.

Wall Street Analyst Weigh In

CLF has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on Cleveland-Cliffs from $7.50 to $8.00 and gave the company an "equal weight" rating in a research note on Friday, June 20th. B. Riley reaffirmed a "buy" rating and issued a $17.00 price objective (down from $20.00) on shares of Cleveland-Cliffs in a research note on Wednesday, April 23rd. 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 research note on Monday, May 12th. Finally, Glj Research lowered Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 price objective on the stock. in a research note on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $10.23.

Insider Activity

In related news, EVP James D. Graham sold 120,000 shares of the company'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 directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.76% of the stock is owned by company insiders.

Cleveland-Cliffs Stock Performance

CLF traded down $0.32 during trading on Monday, reaching $8.50. 29,223,234 shares of the company were exchanged, compared to its average volume of 19,173,507. The stock has a market cap of $4.20 billion, a P/E ratio of -3.48 and a beta of 1.91. The firm has a 50 day moving average of $7.49 and a 200 day moving average of $8.79. The company has a current ratio of 2.13, a quick ratio of 0.64 and a debt-to-equity ratio of 1.17. Cleveland-Cliffs Inc. has a 52 week low of $5.63 and a 52 week high of $16.47.

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). The business had revenue of $4.63 billion for 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%. The company's revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 EPS. On average, sell-side analysts forecast 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.