Cleveland-Cliffs Inc. (NYSE:CLF) Shares Purchased by Cladis Investment Advisory LLC

Cladis Investment Advisory LLC boosted its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 16.4% during the third quarter, HoldingsChannel.com reports. The firm owned 71,200 shares of the mining company’s stock after acquiring an additional 10,050 shares during the period. Cladis Investment Advisory LLC’s holdings in Cleveland-Cliffs were worth $909,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Twelve Points Wealth Management LLC raised its position in shares of Cleveland-Cliffs by 58.5% in the 3rd quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company’s stock worth $1,708,000 after buying an additional 49,359 shares during the period. Commerce Bank raised its holdings in shares of Cleveland-Cliffs by 342.8% in the 3rd quarter. Commerce Bank now owns 116,870 shares of the mining company’s stock worth $1,492,000 after purchasing an additional 90,477 shares during the period. Hodges Capital Management Inc. lifted its stake in shares of Cleveland-Cliffs by 5.0% in the 2nd quarter. Hodges Capital Management Inc. now owns 2,199,634 shares of the mining company’s stock valued at $33,852,000 after purchasing an additional 104,197 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Cleveland-Cliffs by 2.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 40,118 shares of the mining company’s stock worth $879,000 after purchasing an additional 984 shares during the period. Finally, GSA Capital Partners LLP increased its position in Cleveland-Cliffs by 295.9% during the 3rd quarter. GSA Capital Partners LLP now owns 205,461 shares of the mining company’s stock worth $2,624,000 after purchasing an additional 153,560 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Price Performance

Shares of NYSE CLF opened at $12.45 on Monday. 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 fifty-two week low of $10.21 and a fifty-two week high of $22.97. The business has a 50 day moving average price of $12.69 and a two-hundred day moving average price of $13.90. The firm has a market cap of $6.15 billion, a PE ratio of -12.84 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share 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 analyst estimates of $4.72 billion. During the same period in the previous year, the business posted $0.54 EPS. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. Sell-side analysts expect that Cleveland-Cliffs Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on CLF shares. StockNews.com downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Seaport Res Ptn raised shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Morgan Stanley lowered their price target on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Citigroup reduced their price objective on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 10th. Finally, The Goldman Sachs Group initiated coverage on Cleveland-Cliffs in a research note on Monday. They issued a “buy” rating and a $16.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.39.

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.