Inceptionr LLC Invests $259,000 in Cleveland-Cliffs Inc. (NYSE:CLF)

Inceptionr LLC purchased a new stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 27,509 shares of the mining company's stock, valued at approximately $259,000.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE lifted its stake in shares of Cleveland-Cliffs by 6.6% during the 3rd quarter. US Bancorp DE now owns 28,752 shares of the mining company's stock worth $367,000 after acquiring an additional 1,789 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Cleveland-Cliffs by 295.9% during the third quarter. GSA Capital Partners LLP now owns 205,461 shares of the mining company's stock valued at $2,624,000 after purchasing an additional 153,560 shares during the period. Prime Capital Investment Advisors LLC bought a new position in shares of Cleveland-Cliffs in the third quarter worth about $263,000. Kovack Advisors Inc. increased its stake in Cleveland-Cliffs by 71.2% in the 3rd quarter. Kovack Advisors Inc. now owns 34,140 shares of the mining company's stock worth $436,000 after buying an additional 14,200 shares during the period. Finally, Archer Investment Corp lifted its holdings in Cleveland-Cliffs by 25.8% during the 3rd quarter. Archer Investment Corp now owns 7,799 shares of the mining company's stock valued at $100,000 after buying an additional 1,600 shares in the last quarter. Institutional investors own 67.68% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CLF. B. Riley reaffirmed a "buy" rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. Citigroup decreased their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group lowered their target price on Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Glj Research decreased their price objective on Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley dropped their target price on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $16.43.

Cleveland-Cliffs Stock Down 0.6 %

Shares of CLF stock traded down $0.06 during mid-day trading on Thursday, hitting $9.74. 22,105,320 shares of the stock traded hands, compared to its average volume of 18,496,102. Cleveland-Cliffs Inc. has a 52-week low of $8.50 and a 52-week high of $22.97. The stock has a market cap of $4.81 billion, a P/E ratio of -10.04 and a beta of 1.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The stock's fifty day moving average is $10.38 and its two-hundred day moving average is $11.46.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last announced its earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.03). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.46 billion. Equities analysts predict that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

Insider Transactions at Cleveland-Cliffs

In related news, EVP Keith Koci acquired 9,500 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $10.81 per share, with a total value of $102,695.00. Following the transaction, the executive vice president now directly owns 543,475 shares of the company's stock, valued at $5,874,964.75. This trade represents a 1.78 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jane M. Cronin bought 10,000 shares of the company's stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $10.56 per share, for a total transaction of $105,600.00. Following the transaction, the director now owns 24,522 shares in the company, valued at $258,952.32. The trade was a 68.86 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 23,500 shares of company stock valued at $243,095 in the last quarter. 1.76% of the stock is currently owned by corporate insiders.

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.