Cypress Wealth Services LLC Acquires New Position in Cleveland-Cliffs Inc. $CLF

Cypress Wealth Services LLC acquired a new stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,487 shares of the mining company’s stock, valued at approximately $118,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cleveland-Cliffs by 10.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,596,026 shares of the mining company’s stock valued at $37,779,000 after acquiring an additional 419,832 shares during the last quarter. Drexel Morgan & Co. boosted its holdings in shares of Cleveland-Cliffs by 2.1% during the 1st quarter. Drexel Morgan & Co. now owns 4,389,075 shares of the mining company’s stock valued at $36,078,000 after acquiring an additional 88,680 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Cleveland-Cliffs by 16.1% during the 1st quarter. Deutsche Bank AG now owns 4,124,778 shares of the mining company’s stock valued at $33,906,000 after acquiring an additional 572,262 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Cleveland-Cliffs by 1.4% during the 1st quarter. Northern Trust Corp now owns 4,014,436 shares of the mining company’s stock valued at $32,999,000 after acquiring an additional 54,244 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Cleveland-Cliffs by 168.8% during the 1st quarter. Allianz Asset Management GmbH now owns 3,555,383 shares of the mining company’s stock valued at $29,225,000 after acquiring an additional 2,232,799 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Analyst Upgrades and Downgrades

CLF has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cleveland-Cliffs in a report on Wednesday, October 8th. The Goldman Sachs Group raised their price target on shares of Cleveland-Cliffs from $12.85 to $14.50 and gave the company a “buy” rating in a report on Thursday, October 9th. Morgan Stanley raised their price objective on shares of Cleveland-Cliffs from $8.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price objective on shares of Cleveland-Cliffs from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Citigroup raised their price objective on shares of Cleveland-Cliffs from $7.50 to $11.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.93.

Cleveland-Cliffs Stock Up 0.9%

NYSE CLF opened at $13.95 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.28. The company has a fifty day moving average of $11.40 and a two-hundred day moving average of $9.24. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of -4.09 and a beta of 1.96. Cleveland-Cliffs Inc. has a 52 week low of $5.63 and a 52 week high of $14.51.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Monday, July 21st. The mining company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.18. The company had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.90 billion. Cleveland-Cliffs had a negative net margin of 9.03% and a negative return on equity of 17.97%. Cleveland-Cliffs’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 earnings per share. On average, analysts predict that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

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.