Landscape Capital Management L.L.C. Purchases 239,031 Shares of Cleveland-Cliffs Inc. $CLF

Landscape Capital Management L.L.C. grew its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 165.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,334 shares of the mining company’s stock after buying an additional 239,031 shares during the quarter. Landscape Capital Management L.L.C. owned 0.07% of Cleveland-Cliffs worth $5,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Arax Advisory Partners purchased a new stake in shares of Cleveland-Cliffs in the 4th quarter worth $52,000. Barclays PLC increased its stake in shares of Cleveland-Cliffs by 3.3% in the 4th quarter. Barclays PLC now owns 2,384,204 shares of the mining company’s stock worth $31,662,000 after purchasing an additional 75,933 shares in the last quarter. Aigen Investment Management LP increased its stake in shares of Cleveland-Cliffs by 342.5% in the 4th quarter. Aigen Investment Management LP now owns 86,106 shares of the mining company’s stock worth $1,143,000 after purchasing an additional 66,646 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Cleveland-Cliffs by 8.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 401,035 shares of the mining company’s stock worth $5,326,000 after purchasing an additional 31,789 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Cleveland-Cliffs by 23.1% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 348,124 shares of the mining company’s stock worth $4,620,000 after purchasing an additional 65,228 shares in the last quarter. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Cleveland-Cliffs Stock Up 0.6%

Shares of NYSE CLF opened at $13.80 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.02 and a quick ratio of 0.64. The company has a market cap of $7.87 billion, a P/E ratio of -5.90 and a beta of 2.09. Cleveland-Cliffs Inc. has a 1 year low of $6.72 and a 1 year high of $16.70. The firm has a 50-day simple moving average of $10.95 and a two-hundred day simple moving average of $11.58.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, April 20th. The mining company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.04. The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.84 billion. Cleveland-Cliffs had a negative net margin of 6.42% and a negative return on equity of 15.48%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.92) earnings per share. Research analysts anticipate that Cleveland-Cliffs Inc. will post -0.41 earnings per share for the current year.

Insider Buying and Selling at Cleveland-Cliffs

In other news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of Cleveland-Cliffs stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $13.41, for a total transaction of $2,873,870.28. Following the completion of the sale, the executive vice president owned 184,542 shares of the company’s stock, valued at approximately $2,474,708.22. The trade was a 53.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. KeyCorp initiated coverage on Cleveland-Cliffs in a research note on Wednesday, March 25th. They issued a “sector weight” rating for the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $10.00 price target on shares of Cleveland-Cliffs in a research note on Friday, May 1st. Barclays initiated coverage on Cleveland-Cliffs in a research note on Thursday, May 21st. They issued an “underweight” rating and a $9.00 price target for the company. Argus upgraded Cleveland-Cliffs to a “hold” rating in a research note on Monday, April 6th. Finally, JPMorgan Chase & Co. increased their price target on Cleveland-Cliffs from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Cleveland-Cliffs has an average rating of “Reduce” and a consensus target price of $12.85.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.