Harbor Investment Advisory LLC owns $77,000 worth of Cleveland-Cliffs Inc shares. (NYSE:CLF)


Harbor Investment Advisory LLC grew its stake in Cleveland-Cliffs Inc. (NYSE:CLF – Get Rating ) by 747.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,381 shares of the mining company’s stock after buying an additional 2,100 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Cleveland-Cliffs were worth $77,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CLF. Janus Henderson Group PLC acquired a new stake in Cleveland-Cliffs in the third quarter valued at $947,000. Patriot Financial Group Insurance Agency LLC increased its holdings in Cleveland-Cliffs by 47.5% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 15,571 shares of the mining company’s stock valued at $339,000 after purchasing an additional 5,012 shares during the period. Harbor Capital Advisors LLC boosted its holdings in Cleveland-Cliffs by 17.4% in the fourth quarter. Harbor Capital Advisors LLC now owns 25,950 shares of the mining company’s stock valued at $565,000 after purchasing an additional 3,850 shares during the period. Wedbush Securities Inc. boosted its holdings in Cleveland-Cliffs by 29.6% in the fourth quarter. Wedbush Securities Inc. now owns 16,000 shares of the mining company’s stock valued at $348,000 after purchasing an additional 3,657 shares during the period. Finally, E&G Advisors LP boosted its holdings in Cleveland-Cliffs by 10.4% during the fourth quarter. E&G Advisors LP now owns 13,800 shares of the mining company’s stock valued at $300,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 56.68% of the company’s shares.

A number of research analysts have weighed in on the stock. Goldman Sachs Group reduced their price objective on shares of Cleveland-Cliffs from $36.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, May 31st. StockNews.com assumed coverage on shares of Cleveland-Cliffs in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Cleveland-Cliffs from $43.00 to $37.00 in a research note on Tuesday, June 14th. Credit Suisse Group boosted their price objective on shares of Cleveland-Cliffs from $34.00 to $37.00 in a research note on Tuesday, April 19th. Finally, Clarkson Capital reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a research note on Tuesday, June 14th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Cleveland-Cliffs currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50, based on data from MarketBeat.

CLF opened at $15.76 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.28 and a quick ratio of 0.80. The company’s 50-day moving average is $21.47 and its 200-day moving average is $23.08. Cleveland-Cliffs Inc. has a fifty-two week low of $14.75 and a fifty-two week high of $34.04. The firm has a market cap of $8.27 billion, a P/E ratio of 2.30 and a beta of 2.28.

Cleveland-Cliffs (NYSE:CLF – Get Rating ) last posted its quarterly earnings results on Friday, April 22nd. The mining company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.27. Cleveland-Cliffs had a net margin of 16.77% and a return on equity of 78.74%. The company had revenue of $5.96 billion for the quarter, compared to analysts’ estimates of $5.43 billion. During the same period last year, the firm earned $0.35 earnings per share. The company’s revenues increased by 47.1% year-on-year. On average, stock analysts expect Cleveland-Cliffs Inc. to report 5.46 earnings per share for the current year.

In related news, CFO Celso L. Goncalves, Jr. acquired 4,000 shares of the stock in a transaction on Friday, April 29th. The shares were acquired at an average price of $26.32 per share, with a total value of $105,280.00. Following the completion of the transaction, the chief financial officer now owns 143,285 shares in the company, valued at approximately $3,771,261.20. The purchase was disclosed in a document filed with the SEC, which is available via this hyperlink. Also, EVP Keith Kochi acquired 4,600 shares of the stock in a transaction on Wednesday, May 11th. The stock was bought at an average price of $22.38 per share, for a total transaction of $102,948.00. Following the transaction, the executive vice president now owns 294,735 shares of the company’s stock, valued at approximately $6,596,169.30. Disclosure of this purchase can be found here. Over the last ninety days, insiders have acquired 13,100 shares of company stock valued at $330,358. Insiders own 1.43% of the company’s stock.

About Cleveland-Cliffs (Get Rating)

Cleveland-Cliffs is the largest flat-rolled steel company and the largest producer of iron ore pellets in North America. The company is vertically integrated from mining through ironmaking, 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.

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Institutional Ownership by Quarter for Cleveland-Cliffs (NYSE:CLF)



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