Perigon Wealth Management LLC Purchases Shares of 41,097 Cleveland-Cliffs Inc. (NYSE:CLF)

Perigon Wealth Management LLC purchased a new stake in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 41,097 shares of the mining company's stock, valued at approximately $839,000.

Several other hedge funds have also recently bought and sold shares of CLF. Lazard Asset Management LLC grew its position in Cleveland-Cliffs by 218.1% in the first quarter. Lazard Asset Management LLC now owns 1,088 shares of the mining company's stock valued at $35,000 after acquiring an additional 746 shares in the last quarter. Anchor Investment Management LLC acquired a new stake in Cleveland-Cliffs in the fourth quarter valued at approximately $31,000. HighMark Wealth Management LLC acquired a new stake in Cleveland-Cliffs in the fourth quarter valued at approximately $35,000. Exchange Traded Concepts LLC acquired a new stake in Cleveland-Cliffs in the third quarter valued at approximately $29,000. Finally, Allworth Financial LP grew its position in Cleveland-Cliffs by 50.3% in the fourth quarter. Allworth Financial LP now owns 1,850 shares of the mining company's stock valued at $38,000 after acquiring an additional 619 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company's stock.

Insider Buying and Selling at Cleveland-Cliffs

In other Cleveland-Cliffs news, Director Susan Miranda Green sold 6,500 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $20.40, for a total value of $132,600.00. Following the sale, the director now directly owns 90,286 shares in the company, valued at $1,841,834.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Arlene M. Yocum acquired 2,000 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $20.02 per share, for a total transaction of $40,040.00. Following the completion of the purchase, the director now directly owns 94,887 shares in the company, valued at $1,899,637.74. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan Miranda Green sold 6,500 shares of Cleveland-Cliffs stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $20.40, for a total transaction of $132,600.00. Following the sale, the director now owns 90,286 shares in the company, valued at $1,841,834.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,066 shares of company stock worth $4,464,688. 1.76% of the stock is owned by insiders.

Cleveland-Cliffs Stock Performance

CLF traded down $0.41 during trading hours on Monday, hitting $21.23. 4,734,017 shares of the stock were exchanged, compared to its average volume of 8,415,601. The stock has a 50-day simple moving average of $20.85 and a 200-day simple moving average of $18.78. Cleveland-Cliffs Inc. has a 12 month low of $13.61 and a 12 month high of $22.97. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 0.77 and a beta of 2.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.89 and a quick ratio of 0.62.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The mining company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.16 billion. Cleveland-Cliffs had a return on equity of 6.79% and a net margin of 1.81%. The firm's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business posted ($0.30) earnings per share. Analysts anticipate that Cleveland-Cliffs Inc. will post 1.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CLF shares. Argus downgraded shares of Cleveland-Cliffs from a "buy" rating to a "hold" rating in a research report on Thursday, February 8th. BNP Paribas downgraded shares of Cleveland-Cliffs from a "neutral" rating to an "underperform" rating and set a $16.50 price target for the company. in a research report on Wednesday, February 28th. Morgan Stanley reissued an "equal weight" rating and set a $20.00 price target on shares of Cleveland-Cliffs in a research report on Tuesday, March 26th. TheStreet downgraded shares of Cleveland-Cliffs from a "b-" rating to a "c" rating in a research report on Tuesday, January 30th. Finally, Wolfe Research reissued an "underperform" rating and set a $18.00 price target on shares of Cleveland-Cliffs in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Cleveland-Cliffs has an average rating of "Hold" and an average target price of $19.92.

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.