Landscape Capital Management L.L.C. Raises Holdings in Cleveland-Cliffs Inc. $CLF

Landscape Capital Management L.L.C. boosted its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 165.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 383,334 shares of the mining company’s stock after acquiring an additional 239,031 shares during the period. Landscape Capital Management L.L.C.’s holdings in Cleveland-Cliffs were worth $5,091,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CLF. Los Angeles Capital Management LLC purchased a new stake in shares of Cleveland-Cliffs during the fourth quarter valued at $25,000. IFP Advisors Inc raised its position in shares of Cleveland-Cliffs by 117.5% during the 4th quarter. IFP Advisors Inc now owns 2,221 shares of the mining company’s stock worth $29,000 after purchasing an additional 1,200 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Cleveland-Cliffs by 94.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,505 shares of the mining company’s stock worth $33,000 after purchasing an additional 1,214 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Cleveland-Cliffs by 306.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,461 shares of the mining company’s stock worth $33,000 after purchasing an additional 1,855 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Cleveland-Cliffs by 819.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,684 shares of the mining company’s stock worth $33,000 after purchasing an additional 2,392 shares during the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cleveland-Cliffs news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of Cleveland-Cliffs stock in a transaction on Friday, June 5th. The shares were sold at an average price of $13.41, for a total value of $2,873,870.28. Following the transaction, the executive vice president directly owned 184,542 shares in the company, valued at approximately $2,474,708.22. The trade was a 53.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.95% of the company’s stock.

Cleveland-Cliffs Trading Up 0.6%

NYSE CLF opened at $13.80 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.64 and a current ratio of 2.02. The firm has a market cap of $7.87 billion, a PE ratio of -5.90 and a beta of 2.09. Cleveland-Cliffs Inc. has a one year low of $6.72 and a one year high of $16.70. The firm’s fifty day moving average is $10.95 and its two-hundred day moving average is $11.58.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Monday, April 20th. The mining company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.04. The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.84 billion. Cleveland-Cliffs had a negative net margin of 6.42% and a negative return on equity of 15.48%. Cleveland-Cliffs’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.92) earnings per share. Analysts expect that Cleveland-Cliffs Inc. will post -0.41 earnings per share for the current year.

Analyst Ratings Changes

CLF has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Friday, April 24th. KeyCorp started coverage on shares of Cleveland-Cliffs in a report on Wednesday, March 25th. They issued a “sector weight” rating for the company. Glj Research upgraded shares of Cleveland-Cliffs from a “sell” rating to a “hold” rating and increased their price objective for the company from $9.03 to $15.01 in a report on Tuesday, June 9th. Finally, Wells Fargo & Company increased their price objective on shares of Cleveland-Cliffs from $9.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $12.85.

About Cleveland-Cliffs

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.