Cleveland-Cliffs (NYSE:CLF) Stock: Insider Edilson Camara Acquires 7,400 Shares

Cleveland-Cliffs Inc. (NYSE:CLF) Director Edilson Camara bought 7,400 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The stock was bought at an average price of $13.49 per share, for a total transaction of $99,826.00. Following the completion of the acquisition, the director directly owned 64,717 shares in the company, valued at approximately $873,032.33. The trade was a 12.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cleveland-Cliffs Stock Up 6.6%

Shares of Cleveland-Cliffs stock opened at $13.91 on Friday. Cleveland-Cliffs Inc. has a 12-month low of $7.73 and a 12-month high of $15.35. The firm has a market capitalization of $7.94 billion, a PE ratio of -16.37, a price-to-earnings-growth ratio of 5.29 and a beta of 2.09. The company has a quick ratio of 0.63, a current ratio of 1.87 and a debt-to-equity ratio of 1.28. The stock’s fifty day moving average is $12.17 and its 200-day moving average is $11.42.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Monday, October 19th. The mining company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.69 billion. Cleveland-Cliffs had a negative return on equity of 6.83% and a negative net margin of 2.36%. Cleveland-Cliffs’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.51) EPS. Equities analysts anticipate that Cleveland-Cliffs Inc. will post 0.12 earnings per share for the current year.

Key Headlines Impacting Cleveland-Cliffs

Here are the key news stories impacting Cleveland-Cliffs this week:

• Positive Sentiment: Cleveland-Cliffs’ quarterly earnings exceeded Wall Street expectations, while analysts cited steadier automotive steel demand as a supportive factor for the company’s outlook. Cleveland-Cliffs Surges After Earnings Beat as Auto Steel Demand Steadies
• Positive Sentiment: The stock is leading a broader rally among U.S. steelmakers, suggesting improving sentiment toward domestic steel producers even as a global steel fund declined. Cleveland-Cliffs Surges While Steel Fund Slips
• Positive Sentiment: A Cleveland-Cliffs director purchased 7,400 shares for nearly $100,000, increasing his direct ownership by about 13%. The insider buying may signal confidence in the company’s valuation and prospects. SEC Insider Transaction Filing
• Positive Sentiment: The consensus price target reportedly increased 10.73% to $14.38, reflecting somewhat improved expectations following the recent results. Cleveland-Cliffs Consensus Price Target Increased
• Neutral Sentiment: Analyst views remain mixed. JPMorgan raised its target to $13 but maintained a neutral rating, indicating limited upside at recent levels, while other analysts appear more constructive. JPMorgan Cleveland-Cliffs Rating
• Negative Sentiment: Canada has given Cleveland-Cliffs 15 days to reverse planned layoffs at its Stelco Ontario facility or potentially face sanctions, including a forced divestiture. The dispute creates regulatory, labor and operational uncertainty. Canada Gives Cleveland-Cliffs 15 Days to Reverse Planned Job Cuts

Hedge Funds Weigh In On Cleveland-Cliffs

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Cleveland-Cliffs during the second quarter worth $522,766,000. Dimensional Fund Advisors LP boosted its position in Cleveland-Cliffs by 6.4% during the first quarter. Dimensional Fund Advisors LP now owns 15,489,207 shares of the mining company’s stock valued at $130,873,000 after purchasing an additional 925,031 shares during the last quarter. PointState Capital LP acquired a new stake in Cleveland-Cliffs during the second quarter valued at $61,805,000. Avala Global LP acquired a new stake in Cleveland-Cliffs during the second quarter valued at $58,325,000. Finally, Assenagon Asset Management S.A. grew its stake in Cleveland-Cliffs by 208.2% in the second quarter. Assenagon Asset Management S.A. now owns 6,021,829 shares of the mining company’s stock valued at $56,545,000 after purchasing an additional 4,067,994 shares in the last quarter. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CLF has been the subject of several research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $13.00 price objective on shares of Cleveland-Cliffs in a research note on Tuesday. Bank of America decreased their price objective on Cleveland-Cliffs from $14.00 to $11.50 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Wells Fargo & Company lifted their target price on Cleveland-Cliffs from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on Cleveland-Cliffs from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Wall Street Zen raised shares of Cleveland-Cliffs from a “hold” rating to a “buy” rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.82.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is an integrated North American steel producer headquartered in Cleveland, Ohio. The company operates across the steelmaking value chain, from mining and processing iron ore to producing and distributing finished steel products. Its operations include iron ore mines and pelletizing facilities, steel mills, finishing plants, and related manufacturing and distribution assets.

The company produces carbon steel, stainless steel, electrical steel, and other specialty products, including hot-rolled, cold-rolled, and galvanized sheet steel.