Cleveland-Cliffs Inc. (NYSE:CLF) is on recovery track with 51.08% gain from a 1-year low price of $7.4. The company added 2.85% to attain the price of $11.18 on 7/30/2019. Throughout the recent session, the prices were hovering between $10.64 and $11.19. These shares are 21.65% off its target price of $13.6 and the current market capitalization stands at $3B. The recent change has given its price a 10.39% lead over SMA 50 and -14.66% deficit over its 52-week high. The stock witnessed 4.78% gains, 11.91% gains and 21.65% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found CLF’s volatility during a week at 3.18% and during a month it has been found around 3.3%.
What Does Cleveland-Cliffs Inc. (CLF) Do?
The company describes itself in regulatory filings as, “Cleveland-Cliffs, Inc. is an iron ore mining company. It supplies iron ore pellets to the North American steel industry from mines and pellet plants located in Michigan and Minnesota. It operates through the following segments: Mining & Pelletizing and Metallics. The Mining & Pelletizing segment owns operational iron ore mines plus and indefinitely idled mine. The Metallics segment constructs an HBI production plant in Toledo, Ohio. The company was founded in 1847 and is headquartered in Cleveland, OH.” [Text can be found here: https://www.marketwatch.com/investing/stock/CLF/profile under company description.]Cleveland-Cliffs Inc. (CLF) Top Holders
Institutional investors currently hold around $2.43 billion or 85.2% in CLF stock. Look at its top three institutional owners: Vanguard Group Inc owns $294.35 million in Cleveland-Cliffs Inc., which represents roughly 9.81% of the company’s market cap and approximately 12.11% of the institutional ownership. Similar statistics are true for the second largest owner, Blackrock Inc., which owns 20,132,356 shares of the stock are valued at $218.84 million. The third largest holder is Ruffer Llp, which currently holds $190.26 million worth of this stock and that ownership represents nearly 6.34% of its market capitalization.
At the end of March reporting period, 155 institutional holders increased their position in Cleveland-Cliffs Inc. (NYSE:CLF) by some 38,836,375 shares, 139 decreased positions by 28,884,992 and 42 held positions by 155,847,206. That puts total institutional holdings at 223,568,573 shares, according to SEC filings. The stock grabbed 60 new institutional investments totaling 18,891,262 shares while 40 institutional investors sold out their entire positions totaling 5,346,449 shares.Cleveland-Cliffs Inc. (NYSE:CLF) Insider Trades
Multiple company employees have indulged in significant insider trading. Cleveland-Cliffs Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Chairman, President & CEO GONCALVES LOURENCO has acquired 10,000 shares of Cleveland-Cliffs Inc. (CLF) in the trading session dated Jun. 10, 2019. These shares are worth $93,600 and were traded at $9.36 each. The SEC filing shows that Fisher Robert P Jr performed a purchase of 3,000 shares. The Director added these shares by way of transaction on Jun. 03, 2019. The company’s shares were assimilated at $8.92 per share worth to an investment of some $26,760 to the account of Fisher Robert P Jr.
EVP, CFO, Koci Keith, purchased 5,000 common shares of Cleveland-Cliffs Inc. (CLF) in the open market. In a transaction dated May. 22, 2019, the shares were bought at an average price of $9.65, giving away a sum of $48,250. After this purchase, 44,349 common shares of CLF are directly owned by the insider, with total stake valued at $495,822.
In the transaction dated May. 13, 2019, a great number of shares acquired came courtesy the Director; Rychel Eric M added a total of 5,000 shares at an average price of $9.7, amounting to approximately $48,500. The insider now directly owns 24,845 shares worth $277,767.Cleveland-Cliffs Inc. (CLF) Analyst Guide
Several analysts have released their opinion on Cleveland-Cliffs Inc. (NYSE:CLF), with 2 analysts believing it is a strong buy. Whereas 3 of them predict the stock is a hold. Also, there are 5 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.1 average brokerage recommendation [T1].