Mercer Global Advisors Inc. ADV Buys Shares of 30,058 Cleveland-Cliffs Inc. (NYSE:CLF)

Mercer Global Advisors Inc. ADV bought a new stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF – Get Rating) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 30,058 shares of the mining company’s stock, valued at approximately $484,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. L.M. Kohn & Company grew its holdings in shares of Cleveland-Cliffs by 4.2% during the fourth quarter. L.M. Kohn & Company now owns 33,455 shares of the mining company’s stock worth $539,000 after buying an additional 1,350 shares in the last quarter. Vantage Financial Partners LLC purchased a new stake in shares of Cleveland-Cliffs during the fourth quarter worth about $487,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Cleveland-Cliffs by 6.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 86,108 shares of the mining company’s stock worth $1,387,000 after acquiring an additional 5,399 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Cleveland-Cliffs by 9.9% in the fourth quarter. Van ECK Associates Corp now owns 563,208 shares of the mining company’s stock worth $9,073,000 after acquiring an additional 50,841 shares during the last quarter. Finally, C2C Wealth Management LLC boosted its position in shares of Cleveland-Cliffs by 41.3% in the fourth quarter. C2C Wealth Management LLC now owns 74,737 shares of the mining company’s stock worth $1,524,000 after acquiring an additional 21,837 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Keith Koci acquired 7,300 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The shares were purchased at an average price of $14.87 per share, for a total transaction of $108,551.00. Following the completion of the acquisition, the executive vice president now owns 383,358 shares of the company’s stock, valued at approximately $5,700,533.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Keith Koci bought 7,300 shares of the firm’s stock in a transaction on Thursday, April 27th. The stock was purchased at an average price of $14.87 per share, with a total value of $108,551.00. Following the completion of the transaction, the executive vice president now directly owns 383,358 shares of the company’s stock, valued at $5,700,533.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Susan Miranda Green sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $22.66, for a total value of $197,142.00. Following the sale, the director now directly owns 87,353 shares of the company’s stock, valued at approximately $1,979,418.98. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 125,300 shares of company stock worth $1,875,531. Insiders own 1.57% of the company’s stock.

Cleveland-Cliffs Stock Down 0.4 %

CLF stock opened at $14.87 on Tuesday. The firm has a fifty day moving average price of $16.55 and a two-hundred day moving average price of $17.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.15 and a quick ratio of 0.73. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 16.52 and a beta of 2.22. Cleveland-Cliffs Inc. has a 1-year low of $11.82 and a 1-year high of $24.66.

Cleveland-Cliffs (NYSE:CLF – Get Rating) last issued its earnings results on Tuesday, April 25th. The mining company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. Cleveland-Cliffs had a return on equity of 8.32% and a net margin of 2.14%. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.21 billion. During the same quarter in the prior year, the company earned $1.71 EPS. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. Research analysts predict that Cleveland-Cliffs Inc. will post 2.07 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on CLF. StockNews.com raised shares of Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research report on Tuesday. B. Riley decreased their target price on shares of Cleveland-Cliffs from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, February 15th. BNP Paribas raised shares of Cleveland-Cliffs from an “underperform” rating to a “neutral” rating and set a $21.00 price target on the stock in a research report on Wednesday, January 25th. Wolfe Research raised shares of Cleveland-Cliffs from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 20th. Finally, Citigroup lifted their price target on shares of Cleveland-Cliffs from $16.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday, February 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.11.

About Cleveland-Cliffs

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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.