10,829 Shares in Cleveland-Cliffs Inc. (NYSE:CLF) Bought by Columbia Advisory Partners LLC

Columbia Advisory Partners LLC purchased a new stake in Cleveland-Cliffs Inc. (NYSE:CLF) in the 1st quarter, HoldingsChannel reports. The fund purchased 10,829 shares of the mining company’s stock, valued at approximately $89,000.

Other institutional investors have also recently made changes to their positions in the company. Yousif Capital Management LLC grew its stake in shares of Cleveland-Cliffs by 2.0% in the 4th quarter. Yousif Capital Management LLC now owns 184,438 shares of the mining company’s stock valued at $1,734,000 after buying an additional 3,610 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Cleveland-Cliffs during the fourth quarter worth approximately $442,000. Empowered Funds LLC acquired a new position in shares of Cleveland-Cliffs during the fourth quarter worth approximately $462,000. Kestra Private Wealth Services LLC lifted its holdings in shares of Cleveland-Cliffs by 10.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 160,130 shares of the mining company’s stock worth $1,505,000 after purchasing an additional 15,638 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in Cleveland-Cliffs during the 4th quarter valued at $44,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

Analyst Upgrades and Downgrades

CLF has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their price objective on shares of Cleveland-Cliffs from $13.00 to $11.25 and set a “buy” rating on the stock in a research note on Monday, May 12th. B. Riley reiterated a “buy” rating and set a $17.00 price target (down previously from $20.00) on shares of Cleveland-Cliffs in a research note on Wednesday, April 23rd. Finally, Glj Research downgraded Cleveland-Cliffs from a “strong-buy” rating to a “strong sell” rating and set a $3.91 price objective for the company. in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $12.74.

Cleveland-Cliffs Stock Performance

NYSE CLF opened at $8.03 on Wednesday. The company has a market capitalization of $3.97 billion, a PE ratio of -8.27 and a beta of 1.85. 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 $5.63 and a 52-week high of $16.47. The company has a 50-day simple moving average of $7.41 and a 200 day simple moving average of $9.30.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Wednesday, May 7th. The mining company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.14). The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS. On average, research analysts predict that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

Insider Buying and Selling

In other news, EVP James D. Graham sold 120,000 shares of the company’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $6.85, for a total transaction of $822,000.00. Following the sale, the executive vice president now directly owns 492,249 shares in the company, valued at $3,371,905.65. This represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.71% of the stock is owned by 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.