Jones Financial Companies Lllp Purchases 1,182 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Jones Financial Companies Lllp boosted its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 21.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,723 shares of the mining company’s stock after acquiring an additional 1,182 shares during the period. Jones Financial Companies Lllp’s holdings in Cleveland-Cliffs were worth $63,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CLF. Pacer Advisors Inc. boosted its holdings in Cleveland-Cliffs by 13.7% in the third quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock worth $330,665,000 after acquiring an additional 3,110,651 shares in the last quarter. Barclays PLC lifted its holdings in shares of Cleveland-Cliffs by 232.4% in the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock valued at $39,757,000 after purchasing an additional 2,176,837 shares in the last quarter. Stonegate Investment Group LLC bought a new position in shares of Cleveland-Cliffs in the fourth quarter valued at approximately $18,999,000. Rockefeller Capital Management L.P. bought a new position in shares of Cleveland-Cliffs in the third quarter valued at approximately $22,122,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Cleveland-Cliffs by 20.1% in 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 purchasing an additional 1,236,247 shares in the last quarter. Institutional investors own 67.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director John T. Baldwin purchased 4,000 shares of Cleveland-Cliffs stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $8.70 per share, for a total transaction of $34,800.00. Following the completion of the transaction, the director now owns 133,227 shares in the company, valued at $1,159,074.90. This trade represents a 3.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jane M. Cronin purchased 10,000 shares of Cleveland-Cliffs stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $10.56 per share, with a total value of $105,600.00. Following the completion of the transaction, the director now owns 24,522 shares of the company’s stock, valued at $258,952.32. This represents a 68.86 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 23,500 shares of company stock valued at $243,095 over the last ninety days. 1.76% of the stock is currently owned by insiders.

Cleveland-Cliffs Stock Performance

NYSE:CLF opened at $10.16 on Tuesday. 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 business has a fifty day simple moving average of $10.40 and a two-hundred day simple moving average of $11.37. Cleveland-Cliffs Inc. has a 1 year low of $8.50 and a 1 year high of $22.97. The company has a market capitalization of $5.02 billion, a P/E ratio of -10.47 and a beta of 1.94.

Cleveland-Cliffs (NYSE:CLF) last released its earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.46 billion. On average, analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

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.