OMERS ADMINISTRATION Corp Decreases Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

OMERS ADMINISTRATION Corp trimmed its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 34.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,007 shares of the mining company's stock after selling 58,300 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Cleveland-Cliffs were worth $1,025,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Cleveland-Cliffs by 6.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,499,644 shares of the mining company's stock worth $32,896,000 after purchasing an additional 217,488 shares during the period. J. Goldman & Co LP purchased a new stake in Cleveland-Cliffs in the 4th quarter valued at $6,982,000. Janus Henderson Group PLC grew its stake in shares of Cleveland-Cliffs by 4.9% in the 4th quarter. Janus Henderson Group PLC now owns 217,200 shares of the mining company's stock worth $2,043,000 after acquiring an additional 10,200 shares in the last quarter. Jefferies Financial Group Inc. raised its holdings in shares of Cleveland-Cliffs by 1,151.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 150,037 shares of the mining company's stock valued at $1,410,000 after purchasing an additional 138,047 shares during the last quarter. Finally, Kaizen Financial Strategies purchased a new position in Cleveland-Cliffs during the fourth quarter worth about $141,000. 67.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Cleveland-Cliffs Stock Performance

CLF traded up $0.05 during trading hours on Tuesday, hitting $7.41. The stock had a trading volume of 14,768,291 shares, compared to its average volume of 15,229,071. The company's fifty day simple moving average is $8.12 and its 200 day simple moving average is $9.87. Cleveland-Cliffs Inc. has a 1 year low of $6.17 and a 1 year high of $17.86. The stock has a market cap of $3.66 billion, a PE ratio of -7.64 and a beta of 2.03. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last issued its 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 company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the prior year, the business earned $0.18 EPS. The firm's revenue for the quarter was down 11.0% compared to the same quarter last year. Equities analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Insiders Place Their Bets

In other Cleveland-Cliffs news, Director Jane M. Cronin purchased 10,000 shares of the company's stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $10.56 per share, for a total transaction of $105,600.00. Following the transaction, the director now owns 24,522 shares in the company, valued at $258,952.32. The trade was a 68.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John T. Baldwin purchased 4,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $8.70 per share, with a total value of $34,800.00. Following the transaction, the director now owns 133,227 shares in the company, valued at approximately $1,159,074.90. The trade was a 3.10% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 23,500 shares of company stock worth $243,095 in the last quarter. 1.71% of the stock is owned by company insiders.

About Cleveland-Cliffs

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.