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Cleveland-Cliffs Inc. (NYSE:CLF) CFO Acquires $96,800.00 in Stock

Cleveland-Cliffs Inc. (NYSE:CLF - Get Rating) CFO Celso L. Goncalves, Jr. bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 16th. The stock was purchased at an average price of $19.36 per share, for a total transaction of $96,800.00. Following the completion of the transaction, the chief financial officer now directly owns 148,285 shares of the company's stock, valued at approximately $2,870,797.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cleveland-Cliffs Trading Up 1.1 %

Cleveland-Cliffs stock traded up $0.21 during midday trading on Tuesday, reaching $19.44. The stock had a trading volume of 182,778 shares, compared to its average volume of 15,107,946. The company has a quick ratio of 0.75, a current ratio of 2.20 and a debt-to-equity ratio of 0.67. The firm has a market cap of $10.06 billion, a price-to-earnings ratio of 2.91 and a beta of 2.25. Cleveland-Cliffs Inc. has a 52-week low of $14.31 and a 52-week high of $34.04. The company has a fifty day moving average of $17.15 and a 200 day moving average of $22.29.


Cleveland-Cliffs (NYSE:CLF - Get Rating) last posted its quarterly earnings data on Friday, July 22nd. The mining company reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.40 by ($0.27). The business had revenue of $6.34 billion for the quarter, compared to analysts' expectations of $6.13 billion. Cleveland-Cliffs had a net margin of 15.07% and a return on equity of 64.45%. Cleveland-Cliffs's revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. On average, analysts anticipate that Cleveland-Cliffs Inc. will post 4.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on CLF. Credit Suisse Group decreased their price objective on Cleveland-Cliffs from $37.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, July 21st. B. Riley dropped their price objective on shares of Cleveland-Cliffs from $47.00 to $39.00 and set a "buy" rating for the company in a research note on Wednesday, July 6th. Morgan Stanley decreased their target price on shares of Cleveland-Cliffs from $16.00 to $14.50 and set an "equal weight" rating on the stock in a research report on Monday, July 25th. JPMorgan Chase & Co. dropped their price target on Cleveland-Cliffs from $43.00 to $37.00 in a research report on Tuesday, June 14th. Finally, Clarkson Capital restated a "buy" rating on shares of Cleveland-Cliffs in a research report on Tuesday, June 14th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Cleveland-Cliffs currently has an average rating of "Moderate Buy" and a consensus price target of $27.92.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CWM LLC purchased a new stake in Cleveland-Cliffs in the fourth quarter worth about $79,000. IndexIQ Advisors LLC grew its stake in Cleveland-Cliffs by 40.0% during the 4th quarter. IndexIQ Advisors LLC now owns 2,634 shares of the mining company's stock valued at $57,000 after purchasing an additional 752 shares during the last quarter. SFE Investment Counsel grew its stake in Cleveland-Cliffs by 3.5% during the 4th quarter. SFE Investment Counsel now owns 700,562 shares of the mining company's stock valued at $15,251,000 after purchasing an additional 23,706 shares during the last quarter. BigSur Wealth Management LLC acquired a new position in shares of Cleveland-Cliffs in the fourth quarter valued at about $414,000. Finally, PYA Waltman Capital LLC purchased a new position in shares of Cleveland-Cliffs in the fourth quarter worth about $91,000. 56.68% of the stock is currently owned by institutional investors.

Cleveland-Cliffs Company Profile

(Get Rating)

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.

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