Sanctuary Advisors LLC Sells 3,523 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Sanctuary Advisors LLC lessened its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,608 shares of the mining company’s stock after selling 3,523 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cleveland-Cliffs were worth $532,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in shares of Cleveland-Cliffs by 13.7% during the 3rd 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 during the last quarter. Barclays PLC raised its holdings in Cleveland-Cliffs by 232.4% in the 3rd quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock worth $39,757,000 after purchasing an additional 2,176,837 shares during the period. Stonegate Investment Group LLC purchased a new position in Cleveland-Cliffs during the fourth quarter valued at $18,999,000. Rockefeller Capital Management L.P. bought a new stake in Cleveland-Cliffs during the third quarter valued at about $22,122,000. Finally, Ninety One UK Ltd grew its holdings in Cleveland-Cliffs by 121.5% during the fourth quarter. Ninety One UK Ltd now owns 1,501,297 shares of the mining company’s stock valued at $14,112,000 after purchasing an additional 823,562 shares during the period. Institutional investors own 67.68% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CLF shares. Glj Research lowered their price objective on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley lowered their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Citigroup dropped their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group initiated coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective on the stock. Finally, StockNews.com downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cleveland-Cliffs has a consensus rating of “Hold” and an average price target of $16.54.

Insider Activity at Cleveland-Cliffs

In other Cleveland-Cliffs news, Director Jane M. Cronin purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $10.56 per share, with a total value of $105,600.00. Following the completion of the purchase, the director now directly owns 24,522 shares in the company, valued at $258,952.32. This trade represents a 68.86 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Keith Koci acquired 9,500 shares of the company’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $10.81 per share, with a total value of $102,695.00. Following the completion of the purchase, the executive vice president now directly owns 543,475 shares in the company, valued at approximately $5,874,964.75. This represents a 1.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.76% of the stock is owned by corporate insiders.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $10.83 on Friday. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of -11.16 and a beta of 1.96. The firm has a fifty day moving average price of $10.34 and a 200 day moving average price of $11.64. Cleveland-Cliffs Inc. has a fifty-two week low of $8.99 and a fifty-two week high of $22.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85.

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