California First Leasing Corp Sells 139,000 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

California First Leasing Corp lessened its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 58.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 100,000 shares of the mining company’s stock after selling 139,000 shares during the quarter. California First Leasing Corp’s holdings in Cleveland-Cliffs were worth $940,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in CLF. Strengthening Families & Communities LLC boosted its stake in shares of Cleveland-Cliffs by 299.8% during the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after acquiring an additional 1,490 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Cleveland-Cliffs in the 3rd quarter valued at approximately $34,000. Truvestments Capital LLC acquired a new position in Cleveland-Cliffs in the 3rd quarter valued at approximately $34,000. Byrne Asset Management LLC raised its holdings in shares of Cleveland-Cliffs by 130.0% in the 4th quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company’s stock worth $43,000 after buying an additional 2,600 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Cleveland-Cliffs in the 4th quarter worth approximately $44,000. Institutional investors own 67.68% of the company’s stock.

Insider Buying and Selling at Cleveland-Cliffs

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

Cleveland-Cliffs Stock Performance

CLF opened at $10.83 on Friday. The business’s 50-day moving average price is $10.31 and its two-hundred day moving average price is $11.66. Cleveland-Cliffs Inc. has a 1 year low of $8.99 and a 1 year high of $22.97. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of -11.16 and a beta of 1.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55.

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

Analysts Set New Price Targets

CLF has been the topic of a number of research analyst reports. Morgan Stanley decreased their price target on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. The Goldman Sachs Group assumed coverage on Cleveland-Cliffs in a research report on Monday, December 2nd. They issued a “buy” rating and a $16.00 price objective on the stock. StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Citigroup decreased their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Finally, B. Riley reiterated a “buy” rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cleveland-Cliffs currently has an average rating of “Hold” and an average price target of $16.54.

Cleveland-Cliffs 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.