Cleveland-Cliffs Inc (NYSE:CLF) Director Robert P. Fisher, Jr. acquired 5,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were bought at an average price of $7.94 per share, for a total transaction of $39,700.00.
CLF remained flat at $$7.94 during trading on Thursday. 10,460,306 shares of the company’s stock traded hands, compared to its average volume of 10,986,323. Cleveland-Cliffs Inc has a 12 month low of $6.59 and a 12 month high of $12.26. The stock’s 50-day moving average is $7.47 and its 200 day moving average is $8.65. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 3.73 and a beta of 2.10. The company has a current ratio of 2.32, a quick ratio of 1.61 and a debt-to-equity ratio of 5.86.
Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Wednesday, October 23rd. The mining company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.09. The business had revenue of $555.60 million for the quarter, compared to the consensus estimate of $544.88 million. Cleveland-Cliffs had a net margin of 38.99% and a return on equity of 125.91%. The business’s revenue for the quarter was down 25.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.41 EPS. Sell-side analysts forecast that Cleveland-Cliffs Inc will post 1.11 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 3.02%. Cleveland-Cliffs’s dividend payout ratio (DPR) is 11.27%.
Several research analysts recently weighed in on CLF shares. JPMorgan Chase & Co. lowered Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $14.00 to $8.00 in a research report on Monday, September 23rd. Credit Suisse Group reduced their target price on Cleveland-Cliffs from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. Cowen set a $10.00 price target on Cleveland-Cliffs and gave the company a “hold” rating in a research report on Thursday, August 22nd. Citigroup dropped their price target on Cleveland-Cliffs from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, ValuEngine upgraded Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $10.67.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. NEXT Financial Group Inc boosted its stake in shares of Cleveland-Cliffs by 16.9% in the second quarter. NEXT Financial Group Inc now owns 10,261 shares of the mining company’s stock valued at $109,000 after purchasing an additional 1,486 shares during the period. Commonwealth Equity Services LLC grew its holdings in Cleveland-Cliffs by 11.8% during the second quarter. Commonwealth Equity Services LLC now owns 124,918 shares of the mining company’s stock worth $1,332,000 after acquiring an additional 13,158 shares during the period. Quantitative Systematic Strategies LLC lifted its holdings in Cleveland-Cliffs by 155.6% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 36,480 shares of the mining company’s stock valued at $389,000 after acquiring an additional 22,209 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Cleveland-Cliffs during the second quarter valued at approximately $110,000. Finally, Virginia Retirement Systems ET AL lifted its stake in Cleveland-Cliffs by 4.1% during the second quarter. Virginia Retirement Systems ET AL now owns 118,200 shares of the mining company’s stock valued at $1,261,000 after purchasing an additional 4,700 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.
Cleveland-Cliffs Company Profile
Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific. 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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