Edmond DE Rothschild Holding S.A. Has $10.11 Million Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Edmond DE Rothschild Holding S.A. decreased its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,075,000 shares of the mining company’s stock after selling 25,000 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Cleveland-Cliffs were worth $10,105,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CLF. Bank of New York Mellon Corp lifted its position in shares of Cleveland-Cliffs by 20.1% during the 4th quarter. Bank of New York Mellon Corp now owns 7,382,769 shares of the mining company’s stock worth $69,398,000 after purchasing an additional 1,236,247 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Cleveland-Cliffs by 105.6% in the third quarter. Franklin Resources Inc. now owns 262,771 shares of the mining company’s stock worth $3,429,000 after acquiring an additional 134,939 shares during the last quarter. Stonegate Investment Group LLC bought a new position in Cleveland-Cliffs during the fourth quarter worth $18,999,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Cleveland-Cliffs in the 4th quarter valued at $4,432,000. Finally, Janus Henderson Group PLC grew its position in Cleveland-Cliffs by 987.0% in the 3rd quarter. Janus Henderson Group PLC now owns 207,000 shares of the mining company’s stock worth $2,644,000 after purchasing an additional 187,957 shares during the last quarter. 67.68% of the stock is currently owned by institutional investors.

Cleveland-Cliffs Stock Down 3.1 %

CLF opened at $8.26 on Tuesday. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of -8.51 and a beta of 1.94. The firm’s 50-day simple moving average is $10.22 and its 200-day simple moving average is $11.19. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. Cleveland-Cliffs Inc. has a twelve month low of $7.91 and a twelve month high of $22.97.

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 analysts’ consensus estimates 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 business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.46 billion. Equities research analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Insider Transactions at Cleveland-Cliffs

In other news, EVP Keith Koci bought 9,500 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $10.81 per share, for a total transaction of $102,695.00. Following the completion of the transaction, the executive vice president now directly owns 543,475 shares in the company, valued at $5,874,964.75. The trade was a 1.78 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John T. Baldwin purchased 4,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $8.70 per share, for a total transaction of $34,800.00. Following the purchase, the director now directly owns 133,227 shares of the company’s stock, valued at $1,159,074.90. This trade represents a 3.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 23,500 shares of company stock worth $243,095. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Morgan Stanley cut their price objective on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Glj Research reduced their price objective on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a research report on Thursday, February 27th. Citigroup lowered 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. The Goldman Sachs Group reduced their target price on Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Finally, B. Riley reissued a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.43.

Cleveland-Cliffs Company 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.