Cleveland-Cliffs Inc. (NYSE:CLF) Shares Bought by RWA Wealth Partners LLC

RWA Wealth Partners LLC lifted its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 1.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 105,150 shares of the mining company’s stock after purchasing an additional 1,450 shares during the quarter. RWA Wealth Partners LLC’s holdings in Cleveland-Cliffs were worth $2,147,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC purchased a new stake in shares of Cleveland-Cliffs during the 3rd quarter worth about $29,000. Anchor Investment Management LLC purchased a new position in Cleveland-Cliffs in the 4th quarter worth approximately $31,000. Lindbrook Capital LLC boosted its holdings in Cleveland-Cliffs by 83.7% in the 4th quarter. Lindbrook Capital LLC now owns 1,571 shares of the mining company’s stock worth $32,000 after acquiring an additional 716 shares during the period. HighMark Wealth Management LLC purchased a new position in Cleveland-Cliffs in the 4th quarter worth approximately $35,000. Finally, Allworth Financial LP boosted its holdings in Cleveland-Cliffs by 50.3% in the 4th quarter. Allworth Financial LP now owns 1,850 shares of the mining company’s stock worth $38,000 after acquiring an additional 619 shares during the period. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Down 11.1 %

NYSE:CLF opened at $18.53 on Wednesday. Cleveland-Cliffs Inc. has a 1 year low of $13.61 and a 1 year high of $22.97. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 0.72 and a beta of 2.03. The business has a fifty day moving average of $20.98 and a 200-day moving average of $18.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 1.89.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Tuesday, April 23rd. The mining company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). Cleveland-Cliffs had a net margin of 1.78% and a return on equity of 8.50%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the prior year, the business earned ($0.11) EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts predict that Cleveland-Cliffs Inc. will post 1.66 earnings per share for the current year.

Insider Activity at Cleveland-Cliffs

In other news, Director Arlene M. Yocum bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $20.02 per share, with a total value of $40,040.00. Following the completion of the purchase, the director now directly owns 94,887 shares of the company’s stock, valued at approximately $1,899,637.74. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, Director Arlene M. Yocum bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $20.02 per share, with a total value of $40,040.00. Following the completion of the purchase, the director now directly owns 94,887 shares of the company’s stock, valued at approximately $1,899,637.74. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lourenco Goncalves sold 187,136 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $20.19, for a total value of $3,778,275.84. Following the transaction, the chief executive officer now directly owns 2,699,089 shares of the company’s stock, valued at approximately $54,494,606.91. The disclosure for this sale can be found here. Insiders sold 221,066 shares of company stock valued at $4,464,688 over the last 90 days. 1.76% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CLF shares. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 target price on shares of Cleveland-Cliffs in a research note on Tuesday, March 26th. StockNews.com raised Cleveland-Cliffs from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. TheStreet lowered Cleveland-Cliffs from a “b-” rating to a “c” rating in a research report on Tuesday, January 30th. Argus lowered Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Finally, BNP Paribas lowered Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 target price on the stock. in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Cleveland-Cliffs currently has a consensus rating of “Hold” and a consensus target price of $19.92.

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.