Rational Advisors LLC Invests $26,000 in Cleveland-Cliffs Inc. (NYSE:CLF)

Rational Advisors LLC bought a new position in Cleveland-Cliffs Inc. (NYSE:CLFGet Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,196 shares of the mining company’s stock, valued at approximately $26,000.

Several other institutional investors and hedge funds have also made changes to their positions in CLF. Russell Investments Group Ltd. boosted its holdings in shares of Cleveland-Cliffs by 57.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 109,155 shares of the mining company’s stock worth $2,162,000 after acquiring an additional 39,793 shares in the last quarter. Commerce Bank acquired a new position in Cleveland-Cliffs during the 3rd quarter worth $419,000. CIBC Asset Management Inc lifted its holdings in Cleveland-Cliffs by 8.1% during the 3rd quarter. CIBC Asset Management Inc now owns 19,944 shares of the mining company’s stock worth $395,000 after buying an additional 1,492 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Cleveland-Cliffs by 26.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 77,217 shares of the mining company’s stock worth $1,530,000 after buying an additional 16,326 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Cleveland-Cliffs by 177.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,047 shares of the mining company’s stock worth $179,000 after buying an additional 5,792 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have issued reports on CLF shares. StockNews.com started coverage on Cleveland-Cliffs in a report on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. upped their price objective on Cleveland-Cliffs from $37.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, March 24th. TheStreet downgraded Cleveland-Cliffs from a “b-” rating to a “c+” rating in a report on Tuesday, March 1st. The Goldman Sachs Group upped their price objective on Cleveland-Cliffs from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, March 22nd. Finally, B. Riley upped their target price on shares of Cleveland-Cliffs from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, April 25th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $30.99.

Shares of CLF traded up $0.49 during trading hours on Friday, reaching $21.73. The stock had a trading volume of 14,945,571 shares, compared to its average volume of 19,307,966. The company has a quick ratio of 0.80, a current ratio of 2.28 and a debt-to-equity ratio of 0.76. Cleveland-Cliffs Inc. has a 52 week low of $15.81 and a 52 week high of $34.04. The firm has a 50-day moving average of $28.19 and a 200 day moving average of $23.49. The company has a market cap of $11.40 billion, a P/E ratio of 3.17 and a beta of 2.16.

Cleveland-Cliffs (NYSE:CLFGet Rating) last released its quarterly earnings data on Friday, April 22nd. The mining company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.27. Cleveland-Cliffs had a net margin of 16.77% and a return on equity of 78.74%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the company earned $0.35 EPS. The firm’s quarterly revenue was up 47.1% on a year-over-year basis. As a group, equities analysts expect that Cleveland-Cliffs Inc. will post 6.03 earnings per share for the current year.

In other news, CFO Celso L. Goncalves, Jr. bought 4,000 shares of the stock in a transaction on Friday, April 29th. The stock was purchased at an average price of $26.32 per share, for a total transaction of $105,280.00. Following the acquisition, the chief financial officer now owns 143,285 shares in the company, valued at $3,771,261.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Keith Koci bought 4,600 shares of the stock in a transaction on Wednesday, May 11th. The shares were purchased at an average price of $22.38 per share, with a total value of $102,948.00. Following the acquisition, the executive vice president now owns 294,735 shares in the company, valued at approximately $6,596,169.30. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 14,355 shares of company stock valued at $355,307. 1.43% of the stock is owned by corporate insiders.

About Cleveland-Cliffs (Get Rating)

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.

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Institutional Ownership by Quarter for Cleveland-Cliffs (NYSE:CLF)

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