Cleveland-Cliffs Inc. (NYSE:CLF) Director Ron A. Bloom Sells 1,554 Shares

Cleveland-Cliffs Inc. (NYSE:CLF) Director Ron A. Bloom sold 1,554 shares of Cleveland-Cliffs stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $11.77, for a total transaction of $18,290.58. Following the transaction, the director now directly owns 64,024 shares in the company, valued at approximately $753,562.48. This represents a 2.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cleveland-Cliffs Price Performance

Shares of Cleveland-Cliffs stock opened at $12.46 on Friday. Cleveland-Cliffs Inc. has a 52-week low of $10.21 and a 52-week high of $22.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. The stock’s 50-day simple moving average is $12.63 and its 200 day simple moving average is $14.14.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The business’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. On average, equities research analysts forecast that Cleveland-Cliffs Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CLF. StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Morgan Stanley decreased their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Citigroup cut their price target on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Finally, Seaport Res Ptn upgraded shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cleveland-Cliffs currently has an average rating of “Hold” and an average target price of $17.56.

Institutional Investors Weigh In On Cleveland-Cliffs

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Twelve Points Wealth Management LLC increased its position in shares of Cleveland-Cliffs by 58.5% during the third quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company’s stock valued at $1,708,000 after buying an additional 49,359 shares during the period. Hodges Capital Management Inc. grew its stake in Cleveland-Cliffs by 5.0% during the second quarter. Hodges Capital Management Inc. now owns 2,199,634 shares of the mining company’s stock valued at $33,852,000 after acquiring an additional 104,197 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Cleveland-Cliffs by 2.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 40,118 shares of the mining company’s stock worth $879,000 after acquiring an additional 984 shares during the period. Natixis purchased a new stake in Cleveland-Cliffs in the 1st quarter worth approximately $100,000. Finally, GSA Capital Partners LLP boosted its holdings in Cleveland-Cliffs by 295.9% in the 3rd quarter. GSA Capital Partners LLP now owns 205,461 shares of the mining company’s stock valued at $2,624,000 after purchasing an additional 153,560 shares during the period. Institutional investors own 67.68% of the company’s stock.

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.