Sagefield Capital LP Has $732,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Sagefield Capital LP trimmed its holdings in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 63.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,840 shares of the mining company's stock after selling 134,026 shares during the quarter. Sagefield Capital LP's holdings in Cleveland-Cliffs were worth $732,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Pinpoint Asset Management Ltd acquired a new position in Cleveland-Cliffs during the fourth quarter valued at approximately $25,000. Estabrook Capital Management grew its stake in Cleveland-Cliffs by 207.7% in the fourth 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 period. Byrne Asset Management LLC lifted its holdings in shares of Cleveland-Cliffs by 130.0% during the 4th quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company's stock valued at $43,000 after purchasing an additional 2,600 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Cleveland-Cliffs in the 4th quarter worth $44,000. Finally, AllSquare Wealth Management LLC lifted its holdings in shares of Cleveland-Cliffs by 24.4% in the fourth quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company's stock valued at $48,000 after purchasing an additional 1,000 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Trading Up 2.0%

Shares of CLF stock opened at $7.58 on Friday. The stock has a fifty day simple moving average of $8.17 and a two-hundred day simple moving average of $9.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. Cleveland-Cliffs Inc. has a 52-week low of $6.17 and a 52-week high of $17.86. The firm has a market capitalization of $3.75 billion, a PE ratio of -7.81 and a beta of 2.03.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The mining company reported ($0.92) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $4.63 billion during the quarter, compared to analysts' expectations of $4.71 billion. During the same period last year, the company earned $0.18 earnings per share. The business's revenue for the quarter was down 11.0% compared to the same quarter last year. On average, analysts predict that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John T. Baldwin purchased 4,000 shares of the business's stock in a transaction on 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 transaction, the director now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Keith Koci purchased 9,500 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $10.81 per share, for a total transaction of $102,695.00. Following the transaction, the executive vice president now owns 543,475 shares of the company's stock, valued at $5,874,964.75. This trade represents a 1.78% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 23,500 shares of company stock valued at $243,095. Insiders own 1.71% of the company's stock.

Analyst Ratings Changes

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

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.

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