Archer Investment Corp Sells 1,000 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Archer Investment Corp decreased its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 8.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,299 shares of the mining company’s stock after selling 1,000 shares during the period. Archer Investment Corp’s holdings in Cleveland-Cliffs were worth $210,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cleveland-Cliffs by 81.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 158,096 shares of the mining company’s stock worth $3,228,000 after acquiring an additional 71,105 shares in the last quarter. Cullen Investment Group LTD. bought a new stake in Cleveland-Cliffs during the fourth quarter worth about $795,000. Louisiana State Employees Retirement System bought a new stake in Cleveland-Cliffs during the fourth quarter worth about $2,896,000. Perigon Wealth Management LLC bought a new stake in Cleveland-Cliffs during the fourth quarter worth about $839,000. Finally, Cerity Partners LLC bought a new stake in Cleveland-Cliffs during the fourth quarter worth about $3,347,000. Institutional investors own 67.68% of the company’s stock.

Insider Activity at Cleveland-Cliffs

In related news, EVP Terry G. Fedor sold 27,430 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $20.19, for a total transaction of $553,811.70. Following the sale, the executive vice president now owns 534,617 shares of the company’s stock, valued at $10,793,917.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Terry G. Fedor sold 27,430 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $20.19, for a total transaction of $553,811.70. Following the sale, the executive vice president now owns 534,617 shares of the company’s stock, valued at $10,793,917.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Susan Miranda Green sold 6,500 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $20.40, for a total transaction of $132,600.00. Following the sale, the director now directly owns 90,286 shares in the company, valued at approximately $1,841,834.40. The disclosure for this sale can be found here. Insiders have sold a total of 221,066 shares of company stock valued at $4,464,688 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CLF has been the topic of several research reports. Morgan Stanley reissued an “equal weight” rating and set a $20.00 price objective on shares of Cleveland-Cliffs in a research note on Tuesday, March 26th. StockNews.com cut shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Argus cut shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. TheStreet cut shares of Cleveland-Cliffs from a “b-” rating to a “c” rating in a report on Tuesday, January 30th. Finally, Citigroup cut shares of Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 target price for the company. in a report on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Cleveland-Cliffs presently has a consensus rating of “Hold” and a consensus target price of $19.92.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $21.21 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 1.89. The firm has a fifty day moving average price of $20.90 and a 200 day moving average price of $18.83. Cleveland-Cliffs Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $22.97. The firm has a market cap of $10.08 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 0.74 and a beta of 2.03.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Tuesday, January 30th. The mining company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.16 billion. Cleveland-Cliffs had a net margin of 1.81% and a return on equity of 6.79%. Cleveland-Cliffs’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.30) earnings per share. As a group, sell-side analysts expect that Cleveland-Cliffs Inc. will post 1.63 earnings per share for the current fiscal year.

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.