SG Americas Securities LLC Has $6.15 Million Stock Holdings in Cleveland-Cliffs Inc. $CLF

SG Americas Securities LLC trimmed its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 20.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 728,040 shares of the mining company’s stock after selling 184,912 shares during the quarter. SG Americas Securities LLC owned approximately 0.13% of Cleveland-Cliffs worth $6,152,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Barclays PLC raised its stake in Cleveland-Cliffs by 281.9% in the 3rd quarter. Barclays PLC now owns 2,308,271 shares of the mining company’s stock valued at $28,161,000 after acquiring an additional 1,703,791 shares during the period. Phocas Financial Corp. boosted its position in Cleveland-Cliffs by 47.0% during the fourth quarter. Phocas Financial Corp. now owns 474,862 shares of the mining company’s stock worth $6,306,000 after purchasing an additional 151,868 shares during the period. Contrarius Group Holdings Ltd bought a new position in Cleveland-Cliffs during the third quarter worth $10,932,000. Lighthouse Investment Partners LLC acquired a new position in shares of Cleveland-Cliffs in the third quarter valued at $9,171,000. Finally, Neo Ivy Capital Management bought a new position in shares of Cleveland-Cliffs in the third quarter valued at about $1,408,000. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cleveland-Cliffs news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $13.41, for a total transaction of $2,873,870.28. Following the sale, the executive vice president directly owned 184,542 shares of the company’s stock, valued at $2,474,708.22. The trade was a 53.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.95% of the stock is owned by insiders.

Analyst Ratings Changes

CLF has been the subject of several research analyst reports. Barclays started coverage on shares of Cleveland-Cliffs in a report on Thursday, May 21st. They set an “underweight” rating and a $9.00 target price for the company. The Goldman Sachs Group restated a “neutral” rating and set a $10.00 price objective on shares of Cleveland-Cliffs in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their target price on Cleveland-Cliffs from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, June 10th. KeyCorp assumed coverage on Cleveland-Cliffs in a research note on Wednesday, March 25th. They set a “sector weight” rating on the stock. Finally, Wells Fargo & Company lifted their price target on Cleveland-Cliffs from $9.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Nine research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $12.90.

Cleveland-Cliffs Stock Performance

Shares of NYSE:CLF opened at $9.94 on Monday. Cleveland-Cliffs Inc. has a 1 year low of $7.01 and a 1 year high of $16.70. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of -4.25 and a beta of 2.08. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.02 and a quick ratio of 0.64. The company’s 50 day simple moving average is $11.52 and its 200 day simple moving average is $11.51.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Monday, April 20th. The mining company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.04. The firm had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.84 billion. Cleveland-Cliffs had a negative return on equity of 15.48% and a negative net margin of 6.42%.The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.92) earnings per share. As a group, research analysts predict that Cleveland-Cliffs Inc. will post -0.27 EPS for the current fiscal year.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.