Oregon Public Employees Retirement Fund Raises Stock Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Oregon Public Employees Retirement Fund increased its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 3.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 98,462 shares of the mining company’s stock after acquiring an additional 3,700 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Cleveland-Cliffs were worth $926,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CLF. Pacer Advisors Inc. increased its holdings in Cleveland-Cliffs by 13.7% in the 3rd quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock worth $330,665,000 after acquiring an additional 3,110,651 shares in the last quarter. Barclays PLC increased its holdings in Cleveland-Cliffs by 232.4% in the 3rd quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock worth $39,757,000 after acquiring an additional 2,176,837 shares in the last quarter. Stonegate Investment Group LLC purchased a new stake in Cleveland-Cliffs in the 4th quarter worth $18,999,000. Rockefeller Capital Management L.P. purchased a new stake in Cleveland-Cliffs in the 3rd quarter worth $22,122,000. Finally, Bank of New York Mellon Corp increased its holdings in Cleveland-Cliffs by 20.1% in 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 acquiring an additional 1,236,247 shares in the last quarter. Hedge funds and other 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 firm’s stock in a transaction on Friday, February 28th. The shares were bought 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 directly owns 24,522 shares of the company’s stock, valued at $258,952.32. This represents a 68.86 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Keith Koci bought 9,500 shares of the firm’s stock in a transaction 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 directly owns 543,475 shares of the company’s stock, valued at $5,874,964.75. The trade was a 1.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.76% of the stock is currently owned by corporate insiders.

Cleveland-Cliffs Trading Up 0.9 %

Shares of CLF stock opened at $10.83 on Friday. The company’s 50-day moving average price is $10.34 and its 200-day moving average price is $11.64. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of -11.16 and a beta of 1.96. Cleveland-Cliffs Inc. has a twelve month low of $8.99 and a twelve month high of $22.97.

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

Analysts Set New Price Targets

CLF has been the subject of a number of research reports. Citigroup dropped their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Glj Research dropped their target price on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a report on Thursday. B. Riley reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. The Goldman Sachs Group initiated coverage on shares of Cleveland-Cliffs in a report on Monday, December 2nd. They set a “buy” rating and a $16.00 target price for the company. Finally, StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cleveland-Cliffs has an average rating of “Hold” and a consensus target price of $16.54.

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.