Cwm LLC Sells 38,809 Shares of Cleveland-Cliffs Inc. $CLF

Cwm LLC decreased its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 72.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,862 shares of the mining company’s stock after selling 38,809 shares during the period. Cwm LLC’s holdings in Cleveland-Cliffs were worth $113,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. bought a new position in Cleveland-Cliffs during the 2nd quarter worth $27,000. Trust Co. of Toledo NA OH bought a new position in Cleveland-Cliffs during the 2nd quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Cleveland-Cliffs during the 1st quarter worth $36,000. AlphaQuest LLC grew its holdings in shares of Cleveland-Cliffs by 408,600.0% during the 1st quarter. AlphaQuest LLC now owns 8,174 shares of the mining company’s stock worth $67,000 after purchasing an additional 8,172 shares in the last quarter. Finally, Byrne Asset Management LLC grew its holdings in shares of Cleveland-Cliffs by 44.2% during the 2nd quarter. Byrne Asset Management LLC now owns 9,159 shares of the mining company’s stock worth $70,000 after purchasing an additional 2,806 shares in the last quarter. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Price Performance

CLF stock opened at $12.45 on Friday. The company has a fifty day moving average price of $12.30 and a 200-day moving average price of $9.78. The company has a market capitalization of $6.16 billion, a P/E ratio of -3.66 and a beta of 1.96. Cleveland-Cliffs Inc. has a 52-week low of $5.63 and a 52-week high of $16.70. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.61 and a current ratio of 2.04.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Monday, October 20th. The mining company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.03. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.90 billion. Cleveland-Cliffs had a negative net margin of 9.00% and a negative return on equity of 20.02%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.33) earnings per share. As a group, equities analysts expect that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on CLF. UBS Group set a $15.00 target price on Cleveland-Cliffs in a report on Monday. KeyCorp raised their price objective on Cleveland-Cliffs from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup raised their price objective on Cleveland-Cliffs from $7.50 to $11.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Morgan Stanley raised their price objective on Cleveland-Cliffs from $8.00 to $10.50 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. Finally, The Goldman Sachs Group raised their price objective on Cleveland-Cliffs from $14.50 to $16.00 and gave the company a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Cleveland-Cliffs has a consensus rating of “Hold” and a consensus target price of $12.88.

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.