Cleveland-Cliffs (NYSE:CLF) Director Edilson Camara Purchases 7,400 Shares of Stock

Cleveland-Cliffs Inc. (NYSE:CLF) Director Edilson Camara purchased 7,400 shares of Cleveland-Cliffs stock in a transaction that occurred on Thursday, October 22nd. The shares were bought at an average price of $13.49 per share, for a total transaction of $99,826.00. Following the completion of the transaction, the director owned 64,717 shares in the company, valued at $873,032.33. The trade was a 12.91% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cleveland-Cliffs Trading Up 6.6%

CLF opened at $13.91 on Friday. The business has a 50 day simple moving average of $12.17 and a two-hundred day simple moving average of $11.42. Cleveland-Cliffs Inc. has a one year low of $7.73 and a one year high of $15.35. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of -16.37, a PEG ratio of 4.97 and a beta of 2.09. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.87 and a quick ratio of 0.63.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Monday, October 19th. The mining company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. Cleveland-Cliffs had a negative return on equity of 6.83% and a negative net margin of 2.36%. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.69 billion. During the same period in the prior year, the firm earned ($0.51) earnings per share. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. Analysts predict that Cleveland-Cliffs Inc. will post 0.12 EPS for the current year.

Hedge Funds Weigh In On Cleveland-Cliffs

Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in Cleveland-Cliffs by 13.0% in the 3rd quarter. Signaturefd LLC now owns 9,234 shares of the mining company’s stock worth $102,000 after purchasing an additional 1,059 shares during the period. IFP Advisors Inc grew its holdings in Cleveland-Cliffs by 39.5% during the 2nd quarter. IFP Advisors Inc now owns 5,127 shares of the mining company’s stock valued at $48,000 after buying an additional 1,453 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Cleveland-Cliffs by 4.2% during the second quarter. Baird Financial Group Inc. now owns 37,026 shares of the mining company’s stock valued at $348,000 after buying an additional 1,496 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Cleveland-Cliffs by 12.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 13,857 shares of the mining company’s stock valued at $153,000 after buying an additional 1,567 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Cleveland-Cliffs by 24.3% in the second quarter. Versant Capital Management Inc now owns 8,243 shares of the mining company’s stock worth $77,000 after buying an additional 1,614 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Trending Headlines about Cleveland-Cliffs

Here are the key news stories impacting Cleveland-Cliffs this week:

• Positive Sentiment: Cleveland-Cliffs’ quarterly earnings exceeded Wall Street expectations, while analysts cited steadier automotive steel demand as a supportive factor for the company’s outlook. Cleveland-Cliffs Surges After Earnings Beat as Auto Steel Demand Steadies
• Positive Sentiment: The stock is leading a broader rally among U.S. steelmakers, suggesting improving sentiment toward domestic steel producers even as a global steel fund declined. Cleveland-Cliffs Surges While Steel Fund Slips
• Positive Sentiment: A Cleveland-Cliffs director purchased 7,400 shares for nearly $100,000, increasing his direct ownership by about 13%. The insider buying may signal confidence in the company’s valuation and prospects. SEC Insider Transaction Filing
• Positive Sentiment: The consensus price target reportedly increased 10.73% to $14.38, reflecting somewhat improved expectations following the recent results. Cleveland-Cliffs Consensus Price Target Increased
• Neutral Sentiment: Analyst views remain mixed. JPMorgan raised its target to $13 but maintained a neutral rating, indicating limited upside at recent levels, while other analysts appear more constructive. JPMorgan Cleveland-Cliffs Rating
• Negative Sentiment: Canada has given Cleveland-Cliffs 15 days to reverse planned layoffs at its Stelco Ontario facility or potentially face sanctions, including a forced divestiture. The dispute creates regulatory, labor and operational uncertainty. Canada Gives Cleveland-Cliffs 15 Days to Reverse Planned Job Cuts

Wall Street Analyst Weigh In

CLF has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Cleveland-Cliffs from $12.50 to $14.00 and gave the company an “equal weight” rating in a report on Tuesday. Wall Street Zen upgraded Cleveland-Cliffs from a “hold” rating to a “buy” rating in a research note on Saturday. Bank of America cut their price target on Cleveland-Cliffs from $14.00 to $11.50 and set a “neutral” rating for the company in a research note on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a research report on Monday. Finally, UBS Group set a $13.00 price objective on shares of Cleveland-Cliffs in a research note on Monday, September 7th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Cleveland-Cliffs has an average rating of “Hold” and a consensus price target of $13.82.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs Inc is an integrated North American steel producer headquartered in Cleveland, Ohio. The company operates across the steelmaking value chain, from mining and processing iron ore to producing and distributing finished steel products. Its operations include iron ore mines and pelletizing facilities, steel mills, finishing plants, and related manufacturing and distribution assets.

The company produces carbon steel, stainless steel, electrical steel, and other specialty products, including hot-rolled, cold-rolled, and galvanized sheet steel.