Centaurus Financial Inc. Has $286,000 Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Centaurus Financial Inc. cut its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 26.5% during the 4th quarter, Holdings Channel reports. The firm owned 14,000 shares of the mining company’s stock after selling 5,050 shares during the quarter. Centaurus Financial Inc.’s holdings in Cleveland-Cliffs were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Peconic Partners LLC acquired a new position in Cleveland-Cliffs in the 4th quarter valued at about $42,370,000. Forest Avenue Capital Management LP acquired a new position in Cleveland-Cliffs in the 4th quarter valued at about $6,206,000. Pinnacle Holdings LLC grew its stake in Cleveland-Cliffs by 1.0% in the 4th quarter. Pinnacle Holdings LLC now owns 97,021 shares of the mining company’s stock valued at $1,981,000 after buying an additional 968 shares during the last quarter. Intrepid Capital Management Inc. acquired a new position in Cleveland-Cliffs in the 4th quarter valued at about $123,000. Finally, Seven Eight Capital LP acquired a new position in Cleveland-Cliffs in the 4th quarter valued at about $6,505,000. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cleveland-Cliffs

In related news, CEO Lourenco Goncalves acquired 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average price of $16.76 per share, with a total value of $1,005,600.00. Following the purchase, the chief executive officer now directly owns 2,759,089 shares in the company, valued at $46,242,331.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cleveland-Cliffs news, CFO Celso L. Goncalves, Jr. purchased 7,250 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was purchased at an average price of $14.98 per share, with a total value of $108,605.00. Following the completion of the purchase, the chief financial officer now owns 314,362 shares of the company’s stock, valued at $4,709,142.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lourenco Goncalves purchased 60,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average cost of $16.76 per share, with a total value of $1,005,600.00. Following the purchase, the chief executive officer now directly owns 2,759,089 shares of the company’s stock, valued at approximately $46,242,331.64. The disclosure for this purchase can be found here. Insiders purchased a total of 98,950 shares of company stock valued at $1,639,638 in the last quarter. Insiders own 1.76% of the company’s stock.

Cleveland-Cliffs Stock Performance

Shares of Cleveland-Cliffs stock opened at $14.85 on Tuesday. The company has a 50 day moving average of $17.83 and a 200-day moving average of $19.17. Cleveland-Cliffs Inc. has a 1-year low of $13.84 and a 1-year high of $22.97. The company has a current ratio of 1.90, a quick ratio of 0.59 and a debt-to-equity ratio of 0.49. The company has a market cap of $7.06 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 0.66 and a beta of 2.08.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Monday, April 22nd. The mining company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. Cleveland-Cliffs had a net margin of 1.78% and a return on equity of 8.69%. Cleveland-Cliffs’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.11) EPS. As a group, equities research analysts forecast that Cleveland-Cliffs Inc. will post 0.48 earnings per share for the current fiscal year.

Cleveland-Cliffs announced that its board has authorized a stock buyback program on Monday, April 22nd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the mining company to repurchase up to 17.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CLF shares. B. Riley decreased their target price on shares of Cleveland-Cliffs from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. StockNews.com lowered shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Morgan Stanley decreased their target price on shares of Cleveland-Cliffs from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Wolfe Research restated an “underperform” rating and set a $18.00 target price on shares of Cleveland-Cliffs in a research report on Tuesday, April 9th. Finally, BNP Paribas lowered shares of Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 target price on the stock. in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.79.

Cleveland-Cliffs Company Profile

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.