14,525 Shares in Cleveland-Cliffs Inc (CLF) Acquired by Granite Springs Asset Management LLC

Granite Springs Asset Management LLC acquired a new position in shares of Cleveland-Cliffs Inc (NYSE:CLF) in the 4th quarter, Holdings Channel reports. The fund acquired 14,525 shares of the mining company’s stock, valued at approximately $105,000.

Several other institutional investors also recently modified their holdings of the stock. NEXT Financial Group Inc raised its position in shares of Cleveland-Cliffs by 87.8% during the 4th quarter. NEXT Financial Group Inc now owns 13,905 shares of the mining company’s stock worth $100,000 after purchasing an additional 6,500 shares during the last quarter. Advisory Services Network LLC raised its position in shares of Cleveland-Cliffs by 44.8% during the 4th quarter. Advisory Services Network LLC now owns 34,002 shares of the mining company’s stock worth $245,000 after purchasing an additional 10,525 shares during the last quarter. Quantitative Investment Management LLC acquired a new position in shares of Cleveland-Cliffs during the 4th quarter worth approximately $115,000. UBS Asset Management Americas Inc. raised its position in shares of Cleveland-Cliffs by 8.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 211,820 shares of the mining company’s stock worth $1,527,000 after purchasing an additional 17,135 shares during the last quarter. Finally, Girard Partners LTD. acquired a new position in shares of Cleveland-Cliffs during the 4th quarter worth approximately $142,000. Hedge funds and other institutional investors own 60.33% of the company’s stock.

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In other news, Director Susan Miranda Green sold 11,305 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $7.62, for a total transaction of $86,144.10. Following the completion of the sale, the director now directly owns 60,367 shares of the company’s stock, valued at approximately $459,996.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by insiders.

Several research firms have commented on CLF. Cowen reaffirmed a “market perform” rating and issued a $9.00 target price (up from $7.00) on shares of Cleveland-Cliffs in a research note on Friday, January 26th. B. Riley reaffirmed a “buy” rating and issued a $10.00 target price on shares of Cleveland-Cliffs in a research note on Thursday, December 21st. KeyCorp reaffirmed a “hold” rating on shares of Cleveland-Cliffs in a research note on Friday, November 24th. ValuEngine cut shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research cut shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Cleveland-Cliffs currently has a consensus rating of “Hold” and a consensus price target of $9.79.

Shares of Cleveland-Cliffs Inc (NYSE:CLF) opened at $7.43 on Friday. Cleveland-Cliffs Inc has a 12 month low of $5.56 and a 12 month high of $9.92. The stock has a market cap of $2,209.69, a price-to-earnings ratio of 9.65 and a beta of 1.48. The company has a current ratio of 3.42, a quick ratio of 2.80 and a debt-to-equity ratio of -5.19.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Thursday, January 25th. The mining company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.11. Cleveland-Cliffs had a net margin of 16.09% and a negative return on equity of 35.81%. The company had revenue of $600.90 million during the quarter, compared to analysts’ expectations of $612.50 million. During the same period in the previous year, the company earned $0.42 EPS. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. sell-side analysts predict that Cleveland-Cliffs Inc will post 1.15 earnings per share for the current fiscal year.

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About Cleveland-Cliffs

Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.

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Institutional Ownership by Quarter for Cleveland-Cliffs (NYSE:CLF)

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