Rothschild Investment LLC Lowers Position in Cleveland-Cliffs Inc. $CLF

Rothschild Investment LLC trimmed its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 89.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,284 shares of the mining company’s stock after selling 117,200 shares during the quarter. Rothschild Investment LLC’s holdings in Cleveland-Cliffs were worth $174,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CLF. Strengthening Families & Communities LLC increased its position in Cleveland-Cliffs by 4,315.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after purchasing an additional 1,942 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in Cleveland-Cliffs by 72.6% during the third quarter. Deseret Mutual Benefit Administrators now owns 2,768 shares of the mining company’s stock worth $34,000 after acquiring an additional 1,164 shares during the period. Winch Advisory Services LLC raised its position in Cleveland-Cliffs by 131.3% in the second quarter. Winch Advisory Services LLC now owns 4,070 shares of the mining company’s stock worth $31,000 after acquiring an additional 2,310 shares in the last quarter. Islay Capital Management LLC purchased a new position in Cleveland-Cliffs in the second quarter worth $38,000. Finally, MTM Investment Management LLC acquired a new stake in Cleveland-Cliffs in the second quarter valued at $40,000. 67.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cleveland-Cliffs

In other news, Director Edilson Camara acquired 19,700 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was acquired at an average price of $10.13 per share, with a total value of $199,561.00. Following the completion of the transaction, the director directly owned 41,983 shares in the company, valued at approximately $425,287.79. This represents a 88.41% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Clifford T. Smith sold 200,000 shares of the company’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 transaction of $2,092,000.00. Following the transaction, the chief operating officer directly owned 560,529 shares in the company, valued at $5,863,133.34. The trade was a 26.30% decrease in their position. The SEC filing for this sale provides additional information. 1.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CLF. Citigroup increased their price target 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. KeyCorp cut shares of Cleveland-Cliffs from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 7th. 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. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Cleveland-Cliffs in a research note on Monday, February 9th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Cleveland-Cliffs presently has a consensus rating of “Hold” and an average target price of $13.89.

Cleveland-Cliffs Price Performance

CLF stock opened at $10.54 on Thursday. The stock’s 50 day moving average price is $13.25 and its 200 day moving average price is $12.26. The firm has a market cap of $6.01 billion, a P/E ratio of -3.61 and a beta of 1.93. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.50 and a current ratio of 1.95. Cleveland-Cliffs Inc. has a 1 year low of $5.63 and a 1 year high of $16.70.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Monday, February 9th. The mining company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.19. Cleveland-Cliffs had a negative return on equity of 18.94% and a negative net margin of 7.91%.The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the previous year, the firm posted ($0.68) earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

Cleveland-Cliffs Profile

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.