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

Cleveland-Cliffs Inc. (NYSE:CLF) Director Ron A. Bloom sold 1,554 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $11.77, for a total value of $18,290.58. Following the completion of the transaction, the director now owns 64,024 shares of the company’s stock, valued at approximately $753,562.48. This trade represents a 2.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Cleveland-Cliffs Stock Performance

Shares of NYSE CLF traded up $0.59 during trading on Friday, reaching $12.48. 12,357,630 shares of the company traded hands, compared to its average volume of 10,335,740. Cleveland-Cliffs Inc. has a 52-week low of $10.21 and a 52-week high of $22.97. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The firm has a 50 day simple moving average of $12.63 and a 200-day simple moving average of $14.14. The stock has a market capitalization of $6.16 billion, a PE ratio of -12.85 and a beta of 1.97.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CLF. Twelve Points Wealth Management LLC raised its holdings in Cleveland-Cliffs by 58.5% in the 3rd quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company’s stock worth $1,708,000 after purchasing an additional 49,359 shares during the period. Hodges Capital Management Inc. lifted its position in shares of Cleveland-Cliffs by 5.0% during the 2nd quarter. Hodges Capital Management Inc. now owns 2,199,634 shares of the mining company’s stock valued at $33,852,000 after buying an additional 104,197 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Cleveland-Cliffs by 2.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 40,118 shares of the mining company’s stock valued at $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 raised its stake in Cleveland-Cliffs by 295.9% during the 3rd quarter. GSA Capital Partners LLP now owns 205,461 shares of the mining company’s stock worth $2,624,000 after acquiring an additional 153,560 shares during the period. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CLF shares. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Morgan Stanley reduced their price objective 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. Finally, Citigroup reduced their price target on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a report on Tuesday, September 10th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.56.

About Cleveland-Cliffs

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.