J. Goldman & Co LP Buys Shares of 742,766 Cleveland-Cliffs Inc. (NYSE:CLF)

J. Goldman & Co LP bought a new position in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 742,766 shares of the mining company's stock, valued at approximately $6,982,000. J. Goldman & Co LP owned about 0.15% of Cleveland-Cliffs as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the stock. Pinpoint Asset Management Ltd purchased a new stake in shares of Cleveland-Cliffs during the 4th quarter valued at $25,000. Estabrook Capital Management grew its position in Cleveland-Cliffs by 207.7% during the fourth quarter. Estabrook Capital Management now owns 4,000 shares of the mining company's stock valued at $38,000 after acquiring an additional 2,700 shares during the period. Byrne Asset Management LLC increased its stake in Cleveland-Cliffs by 130.0% during the fourth quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company's stock worth $43,000 after acquiring an additional 2,600 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Cleveland-Cliffs in the 4th quarter worth about $44,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Cleveland-Cliffs in the 3rd quarter worth about $64,000. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cleveland-Cliffs

In other news, EVP Keith Koci purchased 9,500 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $10.81 per share, for a total transaction of $102,695.00. Following the completion of the purchase, the executive vice president now owns 543,475 shares of the company's stock, valued at approximately $5,874,964.75. This trade represents a 1.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Baldwin acquired 4,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $8.70 per share, for a total transaction of $34,800.00. Following the purchase, the director now directly owns 133,227 shares of the company's stock, valued at $1,159,074.90. This represents a 3.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 23,500 shares of company stock valued at $243,095 in the last three months. Corporate insiders own 1.71% of the company's stock.

Cleveland-Cliffs Stock Up 2.0%

CLF stock traded up $0.15 during trading on Friday, reaching $7.58. The stock had a trading volume of 21,435,386 shares, compared to its average volume of 15,149,078. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average price of $8.19 and a 200 day moving average price of $9.99. The company has a market capitalization of $3.75 billion, a P/E ratio of -7.81 and a beta of 2.03. Cleveland-Cliffs Inc. has a 1-year low of $6.17 and a 1-year high of $18.03.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The mining company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.14). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same quarter last year, the firm posted $0.18 EPS. The company's revenue was down 11.0% compared to the same quarter last year. On average, equities analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. B. Riley reissued 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. Morgan Stanley cut 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 research note on Monday, February 3rd. The Goldman Sachs Group decreased their price target on shares of Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating for the company in a research report on Monday. Finally, Glj Research cut their price objective on Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cleveland-Cliffs currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.02.

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.