Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. lowered its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,075,000 shares of the mining company’s stock after selling 25,000 shares during the quarter. Edmond DE Rothschild Holding S.A. owned about 0.22% of Cleveland-Cliffs worth $10,105,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Cleveland-Cliffs by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company’s stock valued at $458,267,000 after purchasing an additional 2,556,332 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Cleveland-Cliffs by 20.1% during the fourth quarter. Bank of New York Mellon Corp now owns 7,382,769 shares of the mining company’s stock valued at $69,398,000 after buying an additional 1,236,247 shares in the last quarter. Norges Bank acquired a new position in Cleveland-Cliffs during the fourth quarter worth about $45,381,000. Drexel Morgan & Co. raised its position in Cleveland-Cliffs by 34.4% in the fourth quarter. Drexel Morgan & Co. now owns 4,300,395 shares of the mining company’s stock worth $40,424,000 after acquiring an additional 1,100,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Cleveland-Cliffs by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,176,194 shares of the mining company’s stock valued at $39,256,000 after acquiring an additional 425,041 shares during the last quarter. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Down 3.1 %

NYSE:CLF opened at $8.26 on Tuesday. The stock has a market cap of $4.08 billion, a PE ratio of -8.51 and a beta of 1.94. Cleveland-Cliffs Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $22.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The stock’s 50-day moving average is $10.22 and its two-hundred day moving average is $11.19.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, February 24th. The mining company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.03). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.46 billion. As a group, equities research analysts forecast that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

Insider Activity

In other Cleveland-Cliffs news, Director John T. Baldwin acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $8.70 per share, for a total transaction of $34,800.00. Following the completion of the acquisition, the director now owns 133,227 shares of the company’s stock, valued at approximately $1,159,074.90. This trade represents a 3.10 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jane M. Cronin bought 10,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were bought at an average price of $10.56 per share, for a total transaction of $105,600.00. Following the completion of the acquisition, the director now owns 24,522 shares of the company’s stock, valued at approximately $258,952.32. This represents a 68.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 23,500 shares of company stock worth $243,095 in the last three months. 1.76% of the stock is owned by insiders.

Analysts Set New Price Targets

CLF has been the topic of several recent research reports. Morgan Stanley lowered their price objective on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. B. Riley reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. The Goldman Sachs Group reduced their price objective on Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Glj Research cut their target price on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Citigroup decreased their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $16.43.

Cleveland-Cliffs 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.