Parametrica Management Ltd Makes New $105,000 Investment in Cleveland-Cliffs Inc. (NYSE:CLF)

Parametrica Management Ltd purchased a new stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 11,156 shares of the mining company’s stock, valued at approximately $105,000.

Several other large investors have also recently made changes to their positions in the business. Truvestments Capital LLC purchased a new stake in shares of Cleveland-Cliffs during the third quarter valued at $34,000. Byrne Asset Management LLC increased its stake in Cleveland-Cliffs by 130.0% in the 4th quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company’s stock worth $43,000 after acquiring an additional 2,600 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in Cleveland-Cliffs during the fourth quarter valued at $44,000. AllSquare Wealth Management LLC lifted its holdings in shares of Cleveland-Cliffs by 24.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company’s stock valued at $48,000 after acquiring an additional 1,000 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Cleveland-Cliffs by 1,190.6% during the 4th quarter. GAMMA Investing LLC now owns 5,330 shares of the mining company’s stock valued at $50,000 after purchasing an additional 4,917 shares during the last quarter. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cleveland-Cliffs

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

Cleveland-Cliffs Stock Performance

Shares of CLF stock opened at $9.41 on Wednesday. Cleveland-Cliffs Inc. has a 52-week low of $8.50 and a 52-week high of $22.97. The stock’s 50-day moving average price is $10.34 and its 200 day moving average price is $11.26. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $4.65 billion, a PE ratio of -9.70 and a beta of 1.94.

Cleveland-Cliffs (NYSE:CLF) last announced its 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 firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. As a group, equities research analysts forecast that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. B. Riley restated a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Morgan Stanley decreased their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. The Goldman Sachs Group lowered their target price on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Glj Research dropped their price target on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Citigroup reduced their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Two equities 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $16.43.

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.