Cleveland-Cliffs Inc. (NYSE:CLF) Stock Holdings Increased by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lifted its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 10.4% in the 4th quarter, HoldingsChannel reports. The firm owned 61,142 shares of the mining company’s stock after purchasing an additional 5,765 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Cleveland-Cliffs were worth $575,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new position in Cleveland-Cliffs in the 4th quarter valued at about $45,381,000. Slate Path Capital LP lifted its stake in shares of Cleveland-Cliffs by 35.4% in the 4th quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company’s stock worth $152,355,000 after acquiring an additional 4,239,000 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Cleveland-Cliffs by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company’s stock valued at $458,267,000 after acquiring an additional 2,556,332 shares in the last quarter. Barclays PLC increased its stake in shares of Cleveland-Cliffs by 232.4% during the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock valued at $39,757,000 after acquiring an additional 2,176,837 shares during the period. Finally, American Century Companies Inc. raised its holdings in Cleveland-Cliffs by 135.4% during the fourth quarter. American Century Companies Inc. now owns 3,615,774 shares of the mining company’s stock worth $33,988,000 after purchasing an additional 2,079,589 shares in the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CLF. Morgan Stanley lowered their price target 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 reaffirmed a “buy” rating and set a $17.00 target price (down from $20.00) on shares of Cleveland-Cliffs in a report on Wednesday, April 23rd. Glj Research cut their price target on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, The Goldman Sachs Group lowered their price objective on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, four have assigned 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.49.

Cleveland-Cliffs Trading Up 2.6 %

Shares of CLF opened at $8.46 on Friday. The business’s 50-day moving average price is $8.64 and its 200 day moving average price is $10.37. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $4.18 billion, a P/E ratio of -8.72 and a beta of 1.93. Cleveland-Cliffs Inc. has a 1-year low of $6.17 and a 1-year high of $18.10.

Cleveland-Cliffs (NYSE:CLF) last released its earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.03). The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. Analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Insider Buying and Selling at Cleveland-Cliffs

In other Cleveland-Cliffs news, EVP Keith Koci purchased 9,500 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $10.81 per share, for a total transaction of $102,695.00. Following the completion of the acquisition, the executive vice president now owns 543,475 shares of the company’s stock, valued at $5,874,964.75. This represents a 1.78 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jane M. Cronin acquired 10,000 shares of Cleveland-Cliffs stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $10.56 per share, with a total value of $105,600.00. Following the completion of the purchase, the director now owns 24,522 shares in the company, valued at approximately $258,952.32. This represents a 68.86 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 23,500 shares of company stock valued at $243,095 in the last three months. 1.76% of the stock is currently owned by company insiders.

Cleveland-Cliffs Company 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.