Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lowered its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 14.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,730 shares of the mining company’s stock after selling 22,400 shares during the period. Kestra Private Wealth Services LLC’s holdings in Cleveland-Cliffs were worth $1,132,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CLF. Vanguard Group Inc. grew its stake 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 buying an additional 2,556,332 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cleveland-Cliffs by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,247,426 shares of the mining company’s stock worth $199,724,000 after acquiring an additional 647,282 shares during the period. Slate Path Capital LP raised its stake in Cleveland-Cliffs by 35.4% during the 4th quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company’s stock valued at $152,355,000 after acquiring an additional 4,239,000 shares in the last quarter. Geode Capital Management LLC raised its stake in Cleveland-Cliffs by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 8,466,747 shares of the mining company’s stock valued at $79,611,000 after acquiring an additional 264,078 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd. Can bought a new position in shares of Cleveland-Cliffs during the 4th quarter valued at about $55,453,000. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup raised their target price on Cleveland-Cliffs from $7.50 to $11.00 and gave the company a “neutral” rating in a report on Monday. Morgan Stanley boosted their target price on Cleveland-Cliffs from $8.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Tuesday. Glj Research cut Cleveland-Cliffs from a “strong-buy” rating to a “strong sell” rating and set a $3.91 target price on the stock. in a research note on Wednesday, May 28th. KeyCorp upgraded Cleveland-Cliffs from a “sector weight” rating to an “overweight” rating and set a $14.00 price target for the company in a research note on Tuesday. Finally, The Goldman Sachs Group decreased their price target on Cleveland-Cliffs from $13.00 to $11.25 and set a “buy” rating for the company in a research note on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.74.

Insider Buying and Selling at Cleveland-Cliffs

In related news, EVP James D. Graham sold 120,000 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $6.85, for a total transaction of $822,000.00. Following the completion of the transaction, the executive vice president directly owned 492,249 shares in the company, valued at $3,371,905.65. The trade was a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.71% of the company’s stock.

Cleveland-Cliffs Price Performance

Cleveland-Cliffs stock opened at $11.27 on Thursday. The company has a market capitalization of $5.57 billion, a PE ratio of -3.31 and a beta of 1.91. The stock has a 50-day moving average price of $7.92 and a two-hundred day moving average price of $8.82. The company has a current ratio of 2.04, a quick ratio of 0.64 and a debt-to-equity ratio of 1.28. Cleveland-Cliffs Inc. has a 12 month low of $5.63 and a 12 month high of $16.00.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings results on Monday, July 21st. The mining company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.18. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.90 billion. Cleveland-Cliffs had a negative return on equity of 17.97% and a negative net margin of 9.03%. Cleveland-Cliffs’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 earnings per share. Analysts expect that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

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.