Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by Mcdonald Partners LLC

Mcdonald Partners LLC cut its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 31.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,707 shares of the mining company’s stock after selling 14,510 shares during the period. Mcdonald Partners LLC’s holdings in Cleveland-Cliffs were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. acquired a new position in Cleveland-Cliffs during the fourth quarter valued at $108,000. Mraz Amerine & Associates Inc. lifted its position in Cleveland-Cliffs by 9.6% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 165,726 shares of the mining company’s stock valued at $1,558,000 after purchasing an additional 14,503 shares during the period. D.A. Davidson & CO. lifted its position in Cleveland-Cliffs by 21.7% during the fourth quarter. D.A. Davidson & CO. now owns 117,260 shares of the mining company’s stock valued at $1,102,000 after purchasing an additional 20,911 shares during the period. Principal Financial Group Inc. lifted its position in Cleveland-Cliffs by 2.6% during the fourth quarter. Principal Financial Group Inc. now owns 1,114,888 shares of the mining company’s stock valued at $10,480,000 after purchasing an additional 28,184 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its position in Cleveland-Cliffs by 3.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 190,235 shares of the mining company’s stock valued at $1,788,000 after purchasing an additional 7,168 shares during the period. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Cleveland-Cliffs in a report on Monday, December 2nd. They issued a “buy” rating and a $16.00 price objective for the company. Morgan Stanley cut their price objective on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Glj Research raised shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective for the company in a report on Tuesday, January 7th. StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Citigroup cut their price objective on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.68.

Cleveland-Cliffs Stock Up 4.7 %

Shares of NYSE CLF opened at $12.03 on Wednesday. Cleveland-Cliffs Inc. has a 12-month low of $8.99 and a 12-month high of $22.97. The stock has a market cap of $5.94 billion, a PE ratio of -12.40 and a beta of 1.96. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $10.17 and a 200 day moving average of $11.74.

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.