Key Points
- COO Clifford Smith sold 200,000 shares on Feb. 17 at an average price of $10.46 for proceeds of $2,092,000, cutting his position by 26.3% to 560,529 shares, according to the SEC filing.
- Cleveland‑Cliffs reported Q results showing an EPS of ($0.43) that beat estimates (vs. ($0.62)), but revenue of $4.31 billion missed forecasts and the company posted a negative net margin (‑7.91%) and negative ROE (‑18.94%); analysts project a full‑year EPS around ‑0.79.
- The stock trades near $10.54 with a $6.01 billion market cap; analyst coverage is mixed with a consensus "Hold" rating and a $13.89 target (3 Buy, 5 Hold, 2 Sell).
Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) COO Clifford Smith sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $10.46, for a total value of $2,092,000.00. Following the completion of the transaction, the chief operating officer owned 560,529 shares in the company, valued at approximately $5,863,133.34. This trade represents a 26.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Cleveland-Cliffs Stock Up 0.1%
NYSE CLF opened at $10.54 on Thursday. The business has a fifty day moving average price of $13.25 and a 200 day moving average price of $12.26. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.50 and a current ratio of 1.95. The company has a market cap of $6.01 billion, a P/E ratio of -3.61 and a beta of 1.93. Cleveland-Cliffs Inc. has a one year low of $5.63 and a one year high of $16.70.
Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its earnings results on Monday, February 9th. The mining company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.62) by $0.19. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.60 billion. Cleveland-Cliffs had a negative net margin of 7.91% and a negative return on equity of 18.94%. The company's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.68) earnings per share. Research analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research firms have commented on CLF. Weiss Ratings reissued a "sell (d-)" rating on shares of Cleveland-Cliffs in a research note on Tuesday, January 27th. UBS Group set a $15.00 price target on Cleveland-Cliffs in a report on Monday, October 27th. KeyCorp lowered Cleveland-Cliffs from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, January 7th. Wells Fargo & Company raised Cleveland-Cliffs from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $11.00 to $12.00 in a research note on Friday, November 14th. Finally, Citigroup upped their price objective on shares of Cleveland-Cliffs from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Monday, February 9th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.89.
View Our Latest Research Report on Cleveland-Cliffs
Institutional Investors Weigh In On Cleveland-Cliffs
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLF. Focus Partners Wealth acquired a new position in shares of Cleveland-Cliffs in the 1st quarter valued at $339,000. Concurrent Investment Advisors LLC acquired a new position in Cleveland-Cliffs in the second quarter valued at about $222,000. Vanguard Personalized Indexing Management LLC boosted its stake in Cleveland-Cliffs by 18.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 62,267 shares of the mining company's stock worth $473,000 after buying an additional 9,719 shares during the period. Yousif Capital Management LLC boosted its stake in Cleveland-Cliffs by 2.2% during the second quarter. Yousif Capital Management LLC now owns 188,904 shares of the mining company's stock worth $1,436,000 after buying an additional 4,088 shares during the period. Finally, Atria Wealth Solutions Inc. increased its position in shares of Cleveland-Cliffs by 40.5% during the second quarter. Atria Wealth Solutions Inc. now owns 47,712 shares of the mining company's stock valued at $363,000 after acquiring an additional 13,762 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company's stock.
Cleveland-Cliffs Company Profile
(
Get Free Report)
Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.
The company's integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.
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