First Dallas Securities Inc. Sells 5,250 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

First Dallas Securities Inc. decreased its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 201,500 shares of the mining company’s stock after selling 5,250 shares during the quarter. First Dallas Securities Inc.’s holdings in Cleveland-Cliffs were worth $1,894,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CLF. Franklin Resources Inc. raised its holdings in Cleveland-Cliffs by 105.6% during the third quarter. Franklin Resources Inc. now owns 262,771 shares of the mining company’s stock worth $3,429,000 after buying an additional 134,939 shares during the last quarter. Stonegate Investment Group LLC bought a new stake in shares of Cleveland-Cliffs during the fourth quarter valued at about $18,999,000. Twelve Points Wealth Management LLC increased its position in shares of Cleveland-Cliffs by 58.5% during the third quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company’s stock valued at $1,708,000 after buying an additional 49,359 shares during the period. Janus Henderson Group PLC increased its position in shares of Cleveland-Cliffs by 987.0% in the third quarter. Janus Henderson Group PLC now owns 207,000 shares of the mining company’s stock worth $2,644,000 after purchasing an additional 187,957 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Cleveland-Cliffs in the third quarter worth approximately $22,122,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Down 4.8 %

Shares of CLF opened at $9.75 on Tuesday. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs Inc. has a 12 month low of $8.99 and a 12 month high of $22.97. The stock’s 50 day moving average is $10.44 and its two-hundred day moving average is $12.05. The firm has a market cap of $4.81 billion, a P/E ratio of -10.05 and a beta of 1.96.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. Analysts predict that Cleveland-Cliffs Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CLF. Morgan Stanley cut their target price on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday. Citigroup reduced their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group assumed coverage on Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 price target for the company. StockNews.com cut Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.68.

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.