Cleveland-Cliffs Inc. $CLF Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC raised its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 62.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,976 shares of the mining company’s stock after buying an additional 88,800 shares during the period. International Assets Investment Management LLC’s holdings in Cleveland-Cliffs were worth $1,902,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in Cleveland-Cliffs in the fourth quarter valued at approximately $25,000. IFP Advisors Inc raised its holdings in Cleveland-Cliffs by 117.5% during the fourth quarter. IFP Advisors Inc now owns 2,221 shares of the mining company’s stock worth $29,000 after purchasing an additional 1,200 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Cleveland-Cliffs by 94.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,505 shares of the mining company’s stock worth $33,000 after buying an additional 1,214 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Cleveland-Cliffs by 306.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,461 shares of the mining company’s stock valued at $33,000 after buying an additional 1,855 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Cleveland-Cliffs by 819.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,684 shares of the mining company’s stock valued at $33,000 after buying an additional 2,392 shares in the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cleveland-Cliffs

In other news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $13.41, for a total value of $2,873,870.28. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CLF shares. Argus raised shares of Cleveland-Cliffs to a “hold” rating in a research report on Monday, April 6th. Wells Fargo & Company dropped their price objective on Cleveland-Cliffs from $14.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday. Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “hold” rating and lifted their target price for the stock from $9.03 to $15.01 in a research report on Tuesday, June 9th. Morgan Stanley reissued an “equal weight” rating and issued a $12.50 target price (up from $12.00) on shares of Cleveland-Cliffs in a report on Monday, June 22nd. Finally, Barclays initiated coverage on Cleveland-Cliffs in a research report on Thursday, May 21st. They issued an “underweight” rating and a $9.00 target price for the company. Nine analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $11.80.

Cleveland-Cliffs Trading Down 0.3%

Shares of Cleveland-Cliffs stock opened at $9.38 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.64 and a current ratio of 2.02. The company has a market capitalization of $5.35 billion, a P/E ratio of -4.01 and a beta of 2.13. Cleveland-Cliffs Inc. has a 1 year low of $7.73 and a 1 year high of $16.70. The company’s fifty day moving average is $11.47 and its two-hundred day moving average is $11.27.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Monday, April 20th. The mining company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.04. The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.84 billion. Cleveland-Cliffs had a negative net margin of 6.42% and a negative return on equity of 15.48%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.92) earnings per share. Analysts forecast that Cleveland-Cliffs Inc. will post -0.27 earnings per share for the current year.

Cleveland-Cliffs Profile

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.