Cleveland-Cliffs Inc. (NYSE:CLF) Holdings Boosted by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. boosted its position in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 1,151.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 150,037 shares of the mining company's stock after acquiring an additional 138,047 shares during the period. Jefferies Financial Group Inc.'s holdings in Cleveland-Cliffs were worth $1,410,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pinpoint Asset Management Ltd acquired a new position in Cleveland-Cliffs in the fourth quarter valued at $25,000. Estabrook Capital Management increased its stake in shares of Cleveland-Cliffs by 207.7% during the 4th 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 last quarter. Byrne Asset Management LLC boosted its position in shares of Cleveland-Cliffs by 130.0% in 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 acquired a new position in Cleveland-Cliffs during the fourth quarter worth approximately $44,000. Finally, AllSquare Wealth Management LLC raised its stake in Cleveland-Cliffs by 24.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company's stock worth $48,000 after purchasing an additional 1,000 shares during the period. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

CLF has been the subject of several research analyst reports. The Goldman Sachs Group dropped their price target on Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating for the company in a research note on Monday, May 12th. Glj Research decreased their price objective on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating for the company in a research report on Thursday, February 27th. Morgan Stanley decreased their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Finally, B. Riley reissued a "buy" rating and issued a $17.00 price objective (down from $20.00) on shares of Cleveland-Cliffs in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cleveland-Cliffs has an average rating of "Moderate Buy" and an average price target of $15.02.

Cleveland-Cliffs Stock Performance

Shares of CLF traded up $0.15 during midday trading on Tuesday, hitting $7.51. 4,569,000 shares of the stock traded hands, compared to its average volume of 15,190,128. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. The business's 50 day moving average price is $8.12 and its two-hundred day moving average price is $9.87. The firm has a market capitalization of $3.71 billion, a PE ratio of -7.74 and a beta of 2.03. Cleveland-Cliffs Inc. has a 1-year low of $6.17 and a 1-year high of $17.86.

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

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.