RWA Wealth Partners LLC Has $1.07 Million Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

RWA Wealth Partners LLC decreased its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 1.9% in the 4th quarter, Holdings Channel reports. The fund owned 113,404 shares of the mining company’s stock after selling 2,235 shares during the period. RWA Wealth Partners LLC’s holdings in Cleveland-Cliffs were worth $1,066,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CLF. Norges Bank bought a new stake in shares of Cleveland-Cliffs in the fourth quarter worth $45,381,000. Vanguard Group Inc. lifted its holdings in Cleveland-Cliffs by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company’s stock worth $458,267,000 after buying an additional 2,556,332 shares during the period. Barclays PLC grew its position in shares of Cleveland-Cliffs by 232.4% in the 3rd quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock valued at $39,757,000 after buying an additional 2,176,837 shares during the last quarter. American Century Companies Inc. raised its position in shares of Cleveland-Cliffs by 135.4% during the fourth quarter. American Century Companies Inc. now owns 3,615,774 shares of the mining company’s stock worth $33,988,000 after acquiring an additional 2,079,589 shares during the last quarter. Finally, Stonegate Investment Group LLC acquired a new position in shares of Cleveland-Cliffs in the fourth quarter worth approximately $18,999,000. 67.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CLF has been the subject of several analyst reports. Citigroup lowered their price target 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 on the stock in a report on Thursday, February 27th. Morgan Stanley cut their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. B. Riley reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group dropped their price target on Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Two research 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’s stock. According to data from MarketBeat.com, Cleveland-Cliffs has an average rating of “Hold” and a consensus price target of $16.43.

Cleveland-Cliffs Stock Down 3.1 %

Cleveland-Cliffs stock opened at $8.26 on Tuesday. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of -8.51 and a beta of 1.94. The firm’s fifty day moving average price is $10.22 and its two-hundred day moving average price is $11.19. Cleveland-Cliffs Inc. has a 1-year low of $7.91 and a 1-year high of $22.97. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53.

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 business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.46 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. On average, equities research analysts predict that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

Insider Activity at Cleveland-Cliffs

In other news, Director John T. Baldwin acquired 4,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $8.70 per share, with a total value of $34,800.00. Following the acquisition, the director now directly owns 133,227 shares of the company’s stock, valued at $1,159,074.90. The trade was a 3.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jane M. Cronin bought 10,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $10.56 per share, with a total value of $105,600.00. Following the acquisition, the director now owns 24,522 shares of the company’s stock, valued at $258,952.32. The trade was a 68.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 23,500 shares of company stock valued at $243,095 over the last 90 days. Insiders own 1.76% of the company’s stock.

About Cleveland-Cliffs

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.