Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lowered its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,765 shares of the mining company’s stock after selling 772 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Cleveland-Cliffs were worth $858,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Stonebridge Capital Advisors LLC increased its stake in shares of Cleveland-Cliffs by 20.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 3,600 shares of the mining company’s stock worth $58,000 after acquiring an additional 600 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake in shares of Cleveland-Cliffs by 2.3% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 27,337 shares of the mining company’s stock worth $427,000 after acquiring an additional 609 shares during the period. Cibc World Market Inc. increased its stake in shares of Cleveland-Cliffs by 1.1% in the first quarter. Cibc World Market Inc. now owns 58,149 shares of the mining company’s stock worth $1,873,000 after acquiring an additional 623 shares during the period. Stratos Wealth Partners LTD. increased its stake in shares of Cleveland-Cliffs by 0.7% in the third quarter. Stratos Wealth Partners LTD. now owns 103,397 shares of the mining company’s stock worth $1,616,000 after acquiring an additional 674 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Cleveland-Cliffs by 14.9% in the third quarter. Fifth Third Bancorp now owns 5,513 shares of the mining company’s stock worth $86,000 after acquiring an additional 716 shares during the period. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Up 2.8 %

Shares of CLF traded up $0.61 during trading on Friday, reaching $22.74. 6,642,443 shares of the company traded hands, compared to its average volume of 8,549,458. Cleveland-Cliffs Inc. has a twelve month low of $13.61 and a twelve month high of $22.78. The stock has a market cap of $11.33 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 0.76 and a beta of 2.02. The stock has a 50-day simple moving average of $20.08 and a 200-day simple moving average of $18.07. The company has a quick ratio of 0.62, a current ratio of 1.89 and a debt-to-equity ratio of 0.39.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings results on Tuesday, January 30th. The mining company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). Cleveland-Cliffs had a net margin of 1.81% and a return on equity of 6.79%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.16 billion. During the same period last year, the business earned ($0.30) earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts anticipate that Cleveland-Cliffs Inc. will post 1.84 earnings per share for the current year.

Insider Transactions at Cleveland-Cliffs

In related news, CEO Lourenco Goncalves sold 187,136 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total transaction of $3,778,275.84. Following the completion of the transaction, the chief executive officer now directly owns 2,699,089 shares of the company’s stock, valued at approximately $54,494,606.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Lourenco Goncalves sold 187,136 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total value of $3,778,275.84. Following the completion of the sale, the chief executive officer now directly owns 2,699,089 shares of the company’s stock, valued at approximately $54,494,606.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Terry G. Fedor sold 27,430 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $20.19, for a total value of $553,811.70. Following the completion of the sale, the executive vice president now directly owns 534,617 shares of the company’s stock, valued at $10,793,917.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,066 shares of company stock valued at $4,464,688. 1.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CLF has been the topic of several analyst reports. TheStreet lowered shares of Cleveland-Cliffs from a “b-” rating to a “c” rating in a research report on Tuesday, January 30th. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price objective on shares of Cleveland-Cliffs in a report on Tuesday. BNP Paribas downgraded shares of Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 price objective on the stock. in a report on Wednesday, February 28th. Citigroup downgraded shares of Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 price objective on the stock. in a report on Wednesday, March 13th. Finally, StockNews.com downgraded shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.30.

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.