Cleveland-Cliffs (NYSE:CLF) Shares Down 2.2%

Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) traded down 2.2% during mid-day trading on Tuesday . The company traded as low as $21.87 and last traded at $21.93. 1,306,463 shares were traded during mid-day trading, a decline of 84% from the average session volume of 8,413,319 shares. The stock had previously closed at $22.42.

Analyst Upgrades and Downgrades

CLF has been the subject of several research reports. StockNews.com downgraded shares of Cleveland-Cliffs from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. Morgan Stanley reiterated an "equal weight" rating and set a $20.00 price objective on shares of Cleveland-Cliffs in a research report on Tuesday, March 26th. BNP Paribas downgraded Cleveland-Cliffs from a "neutral" rating to an "underperform" rating and set a $16.50 target price on the stock. in a research report on Wednesday, February 28th. TheStreet lowered Cleveland-Cliffs from a "b-" rating to a "c" rating in a research report on Tuesday, January 30th. Finally, Citigroup cut shares of Cleveland-Cliffs from a "buy" rating to a "neutral" rating and set a $22.00 price target on the stock. in a report on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $19.92.

Cleveland-Cliffs Stock Down 2.3 %

The business's 50 day moving average is $20.72 and its 200 day moving average is $18.59. The company has a quick ratio of 0.62, a current ratio of 1.89 and a debt-to-equity ratio of 0.39. The company has a market cap of $10.41 billion, a P/E ratio of 28.45, a P/E/G ratio of 0.77 and a beta of 2.03.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The mining company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Cleveland-Cliffs had a return on equity of 6.79% and a net margin of 1.81%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same period in the previous year, the company posted ($0.30) EPS. The business's revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that Cleveland-Cliffs Inc. will post 1.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Cleveland-Cliffs

In other news, EVP Terry G. Fedor sold 27,430 shares of Cleveland-Cliffs stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $20.19, for a total value of $553,811.70. Following the transaction, the executive vice president now owns 534,617 shares of the company's stock, valued at approximately $10,793,917.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cleveland-Cliffs news, Director Ron A. Bloom purchased 25,000 shares of the firm's stock in a transaction on Thursday, February 1st. The stock was bought at an average cost of $20.24 per share, for a total transaction of $506,000.00. Following the completion of the purchase, the director now owns 27,221 shares in the company, valued at approximately $550,953.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Terry G. Fedor sold 27,430 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total value of $553,811.70. Following the sale, the executive vice president now owns 534,617 shares in the company, valued at approximately $10,793,917.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,066 shares of company stock valued at $4,464,688. 1.57% of the stock is currently owned by insiders.

Institutional Trading of Cleveland-Cliffs

A number of institutional investors have recently bought and sold shares of CLF. Rise Advisors LLC lifted its position in Cleveland-Cliffs by 2,858.0% during the 1st quarter. Rise Advisors LLC now owns 1,479 shares of the mining company's stock worth $34,000 after acquiring an additional 1,429 shares during the period. CWM LLC lifted its holdings in shares of Cleveland-Cliffs by 48.7% during the first quarter. CWM LLC now owns 22,252 shares of the mining company's stock worth $506,000 after purchasing an additional 7,285 shares during the period. Kapitalo Investimentos Ltda boosted its position in Cleveland-Cliffs by 55.9% in the fourth quarter. Kapitalo Investimentos Ltda now owns 15,209 shares of the mining company's stock valued at $311,000 after buying an additional 5,456 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Cleveland-Cliffs by 410.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,550 shares of the mining company's stock worth $52,000 after buying an additional 2,050 shares during the period. Finally, True Vision MN LLC purchased a new position in Cleveland-Cliffs during the 4th quarter worth approximately $496,000. 67.68% of the stock is currently owned by institutional investors and hedge funds.

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.