Cleveland-Cliffs Inc (NYSE:CLF) Director John T. Baldwin bought 9,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were bought at an average cost of $7.27 per share, for a total transaction of $65,430.00. Following the transaction, the director now owns 123,727 shares in the company, valued at approximately $899,495.29. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

CLF traded down $0.21 during trading hours on Friday, reaching $7.26. 8,491,554 shares of the company’s stock traded hands, compared to its average volume of 10,204,879. The firm has a 50-day moving average price of $9.03 and a 200 day moving average price of $9.82. Cleveland-Cliffs Inc has a 52-week low of $6.64 and a 52-week high of $13.10. The company has a quick ratio of 1.81, a current ratio of 2.56 and a debt-to-equity ratio of 7.37. The firm has a market capitalization of $1.97 billion, a PE ratio of 3.41 and a beta of 2.15.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Friday, July 19th. The mining company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.11. Cleveland-Cliffs had a return on equity of 238.16% and a net margin of 50.72%. The company had revenue of $697.40 million during the quarter, compared to analysts’ expectations of $624.23 million. During the same quarter in the previous year, the business earned $0.55 EPS. Cleveland-Cliffs’s revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that Cleveland-Cliffs Inc will post 1.7 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, October 4th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, October 3rd. Cleveland-Cliffs’s payout ratio is currently 11.27%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors purchased a new stake in shares of Cleveland-Cliffs in the 2nd quarter worth $28,000. Advisors Preferred LLC purchased a new stake in shares of Cleveland-Cliffs in the 2nd quarter worth $32,000. Schroder Investment Management Group purchased a new stake in shares of Cleveland-Cliffs in the 2nd quarter worth $33,000. Neo Ivy Capital Management purchased a new stake in shares of Cleveland-Cliffs in the 2nd quarter worth $34,000. Finally, Harvest Group Wealth Management LLC purchased a new stake in shares of Cleveland-Cliffs in the 1st quarter worth $78,000. Institutional investors own 82.43% of the company’s stock.

Several equities analysts have recently weighed in on CLF shares. Cowen set a $10.00 target price on Cleveland-Cliffs and gave the company a “hold” rating in a research report on Thursday, August 22nd. Citigroup cut their target price on Cleveland-Cliffs from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, ValuEngine downgraded Cleveland-Cliffs from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Cleveland-Cliffs has an average rating of “Hold” and an average target price of $11.78.

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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