Bailard Inc. Has $215,000 Stock Position in Cleveland-Cliffs Inc. $CLF

Bailard Inc. decreased its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 75.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,199 shares of the mining company’s stock after selling 49,203 shares during the period. Bailard Inc.’s holdings in Cleveland-Cliffs were worth $215,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in shares of Cleveland-Cliffs by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 152,009 shares of the mining company’s stock worth $1,855,000 after purchasing an additional 943 shares in the last quarter. Moors & Cabot Inc. raised its stake in shares of Cleveland-Cliffs by 3.0% during the 3rd quarter. Moors & Cabot Inc. now owns 33,118 shares of the mining company’s stock worth $404,000 after purchasing an additional 960 shares in the last quarter. Whitcomb & Hess Inc. raised its stake in shares of Cleveland-Cliffs by 3.8% during the 4th quarter. Whitcomb & Hess Inc. now owns 26,752 shares of the mining company’s stock worth $357,000 after purchasing an additional 973 shares in the last quarter. Cidel Asset Management Inc. raised its stake in shares of Cleveland-Cliffs by 6.0% during the 4th quarter. Cidel Asset Management Inc. now owns 18,185 shares of the mining company’s stock worth $242,000 after purchasing an additional 1,037 shares in the last quarter. Finally, 4WEALTH Advisors Inc. raised its stake in shares of Cleveland-Cliffs by 1.5% during the 3rd quarter. 4WEALTH Advisors Inc. now owns 76,834 shares of the mining company’s stock worth $937,000 after purchasing an additional 1,118 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CLF. KeyCorp began coverage on Cleveland-Cliffs in a research note on Wednesday, March 25th. They set a “sector weight” rating on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $10.00 price target on shares of Cleveland-Cliffs in a research note on Friday, May 1st. Citigroup increased their price target on Cleveland-Cliffs from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Glj Research restated a “sell” rating and issued a $9.42 price target on shares of Cleveland-Cliffs in a research note on Monday, March 16th. Finally, JPMorgan Chase & Co. dropped their price target on Cleveland-Cliffs from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $11.77.

Insider Activity

In other news, COO Clifford T. Smith sold 200,000 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $10.46, for a total transaction of $2,092,000.00. Following the sale, the chief operating officer directly owned 560,529 shares of the company’s stock, valued at approximately $5,863,133.34. This represents a 26.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.95% of the company’s stock.

Cleveland-Cliffs Stock Down 5.9%

CLF stock opened at $10.29 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.02 and a quick ratio of 0.64. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of -4.40 and a beta of 2.00. The business’s fifty day moving average price is $9.39 and its two-hundred day moving average price is $11.41. Cleveland-Cliffs Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $16.70.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Monday, April 20th. The mining company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.04. The firm had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Cleveland-Cliffs had a negative return on equity of 15.48% and a negative net margin of 6.42%.The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.92) EPS. On average, equities analysts anticipate that Cleveland-Cliffs Inc. will post -0.46 earnings per share for the current 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.