Cleveland-Cliffs Inc. (NYSE:CLF) Stock Position Increased by Moors & Cabot Inc.

Moors & Cabot Inc. raised its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 6.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,818 shares of the mining company’s stock after purchasing an additional 2,012 shares during the period. Moors & Cabot Inc.’s holdings in Cleveland-Cliffs were worth $432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Cleveland-Cliffs by 54.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,906,597 shares of the mining company’s stock worth $244,794,000 after buying an additional 5,621,797 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Cleveland-Cliffs by 49.9% during the second quarter. AQR Capital Management LLC now owns 6,093,632 shares of the mining company’s stock valued at $93,172,000 after purchasing an additional 2,027,757 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Cleveland-Cliffs by 1,893.6% during the third quarter. International Assets Investment Management LLC now owns 1,227,848 shares of the mining company’s stock valued at $156,800,000 after purchasing an additional 1,166,258 shares during the period. Bank of New York Mellon Corp lifted its holdings in Cleveland-Cliffs by 23.6% in the second quarter. Bank of New York Mellon Corp now owns 5,597,662 shares of the mining company’s stock worth $86,148,000 after purchasing an additional 1,069,907 shares during the period. Finally, WINTON GROUP Ltd lifted its holdings in Cleveland-Cliffs by 1,650.8% in the second quarter. WINTON GROUP Ltd now owns 874,464 shares of the mining company’s stock worth $13,458,000 after purchasing an additional 824,518 shares during the period. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Up 4.9 %

Shares of NYSE CLF opened at $12.46 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs Inc. has a 12 month low of $10.21 and a 12 month high of $22.97. The company has a market cap of $6.15 billion, a price-to-earnings ratio of -12.85 and a beta of 1.97. The business has a fifty day simple moving average of $12.64 and a 200-day simple moving average of $14.08.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the previous year, the business earned $0.54 earnings per share. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. Sell-side analysts predict that Cleveland-Cliffs Inc. will post -0.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on CLF shares. Morgan Stanley dropped their price target on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Citigroup cut their target price on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.56.

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.