Susan Miranda Green Sells 6,500 Shares of Cleveland-Cliffs Inc. (NYSE:CLF) Stock

Cleveland-Cliffs Inc. (NYSE:CLFGet Free Report) Director Susan Miranda Green sold 6,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $20.40, for a total value of $132,600.00. Following the transaction, the director now owns 90,286 shares in the company, valued at $1,841,834.40. The sale was disclosed in a document filed with the SEC, which is available at this link.

Cleveland-Cliffs Trading Up 0.5 %

Shares of CLF opened at $19.76 on Friday. The business has a 50-day moving average of $19.54 and a 200 day moving average of $17.69. Cleveland-Cliffs Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $21.47. The firm has a market cap of $9.85 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 0.67 and a beta of 2.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 1.89.

Cleveland-Cliffs (NYSE:CLFGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The mining company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Cleveland-Cliffs had a return on equity of 6.79% and a net margin of 1.81%. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same quarter last year, the firm posted ($0.30) EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts forecast that Cleveland-Cliffs Inc. will post 1.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CLF shares. TheStreet cut Cleveland-Cliffs from a “b-” rating to a “c” rating in a research note on Tuesday, January 30th. StockNews.com cut Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Morgan Stanley cut Cleveland-Cliffs from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $21.50 to $20.00 in a research note on Thursday, February 15th. Citigroup cut Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research note on Wednesday. Finally, BNP Paribas cut Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 target price on the stock. in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.30.

View Our Latest Analysis on Cleveland-Cliffs

Institutional Investors Weigh In On Cleveland-Cliffs

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Cleveland-Cliffs by 3.8% in the 1st quarter. BlackRock Inc. now owns 56,453,183 shares of the mining company’s stock worth $1,034,787,000 after acquiring an additional 2,041,111 shares during the last quarter. Vanguard Group Inc. grew its holdings in Cleveland-Cliffs by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 45,757,539 shares of the mining company’s stock valued at $616,355,000 after buying an additional 387,794 shares in the last quarter. State Street Corp grew its holdings in Cleveland-Cliffs by 18.6% during the 2nd quarter. State Street Corp now owns 21,000,065 shares of the mining company’s stock valued at $322,771,000 after buying an additional 3,295,448 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cleveland-Cliffs by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 7,662,500 shares of the mining company’s stock valued at $128,217,000 after buying an additional 186,299 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Cleveland-Cliffs by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,216,964 shares of the mining company’s stock valued at $120,966,000 after buying an additional 109,059 shares in the last quarter. Hedge funds and other institutional investors own 60.97% of the company’s stock.

Cleveland-Cliffs Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Cleveland-Cliffs (NYSE:CLF)

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