Banco Bilbao Vizcaya Argentaria S.A. Has $176,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 32.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,733 shares of the mining company’s stock after buying an additional 4,592 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Cleveland-Cliffs were worth $176,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Summit Investment Advisors Inc. grew its stake in Cleveland-Cliffs by 1.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 96,956 shares of the mining company’s stock valued at $911,000 after acquiring an additional 932 shares in the last quarter. AllSquare Wealth Management LLC boosted its holdings in shares of Cleveland-Cliffs by 24.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company’s stock worth $48,000 after purchasing an additional 1,000 shares during the period. MRP Capital Investments LLC grew its position in Cleveland-Cliffs by 10.0% during the fourth quarter. MRP Capital Investments LLC now owns 11,000 shares of the mining company’s stock valued at $103,000 after purchasing an additional 1,000 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Cleveland-Cliffs by 21.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,723 shares of the mining company’s stock valued at $63,000 after buying an additional 1,182 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in Cleveland-Cliffs by 11.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 13,270 shares of the mining company’s stock worth $125,000 after buying an additional 1,313 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

NYSE:CLF opened at $8.42 on Wednesday. The firm has a market capitalization of $4.16 billion, a PE ratio of -8.68 and a beta of 1.93. Cleveland-Cliffs Inc. has a 1 year low of $6.17 and a 1 year high of $18.10. 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 firm’s fifty day simple moving average is $8.76 and its 200 day simple moving average is $10.42.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $4.46 billion. On average, sell-side analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

CLF has been the topic of a number of research reports. The Goldman Sachs Group dropped their price target on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. B. Riley reaffirmed a “buy” rating and issued a $17.00 target price (down from $20.00) on shares of Cleveland-Cliffs in a research report on Wednesday, April 23rd. Glj Research reduced their price target on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley dropped their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cleveland-Cliffs presently has a consensus rating of “Moderate Buy” and an average price target of $15.49.

Insiders Place Their Bets

In related news, Director John T. Baldwin purchased 4,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $8.70 per share, for a total transaction of $34,800.00. Following the transaction, the director now directly owns 133,227 shares of the company’s stock, valued at approximately $1,159,074.90. This trade represents a 3.10 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jane M. Cronin acquired 10,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $10.56 per share, with a total value of $105,600.00. Following the transaction, the director now directly owns 24,522 shares of the company’s stock, valued at $258,952.32. The trade was a 68.86 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 23,500 shares of company stock valued at $243,095 in the last three months. Company insiders own 1.76% of the company’s stock.

Cleveland-Cliffs 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.