By otakuyassine3@gmail.com 
Courier Capital LLC cut its stake in Cleveland-Cliffs Inc. (NYSE:CLF – Free Report) by 26.6% in the 4th quarter, Holdings Channel reports. The fund owned 27,716 shares of the mining company’s stock after selling 10,031 shares during the quarter. Courier Capital LLC’s holdings in Cleveland-Cliffs were worth $261,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in shares of Cleveland-Cliffs in the 2nd quarter worth about $26,000. Strengthening Families & Communities LLC lifted its position in Cleveland-Cliffs by 299.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after buying an additional 1,490 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Cleveland-Cliffs in the 3rd quarter worth approximately $34,000. Truvestments Capital LLC purchased a new stake in Cleveland-Cliffs in the third quarter worth approximately $34,000. Finally, Blue Trust Inc. grew its position in Cleveland-Cliffs by 231.9% during the third quarter. Blue Trust Inc. now owns 3,634 shares of the mining company’s stock valued at $46,000 after acquiring an additional 2,539 shares during the last quarter. Institutional investors own 67.68% of the company’s stock.
Cleveland-Cliffs Trading Down 2.6 %
CLF opened at $10.22 on Wednesday. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of -10.54 and a beta of 1.97. Cleveland-Cliffs Inc. has a one year low of $8.99 and a one year high of $22.97. The business has a 50 day simple moving average of $11.04 and a two-hundred day simple moving average of $12.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55.
Cleveland-Cliffs (NYSE:CLF – Get Free Report) last announced its earnings results on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. Cleveland-Cliffs’s revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. Analysts predict that Cleveland-Cliffs Inc. will post -0.45 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on CLF. Morgan Stanley cut their price objective on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. Citigroup cut their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group started coverage on Cleveland-Cliffs in a report on Monday, December 2nd. They set a “buy” rating and a $16.00 target price for the company. Finally, StockNews.com cut 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 given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cleveland-Cliffs has an average rating of “Hold” and a consensus target price of $16.93.
Get Our Latest Research Report on Cleveland-Cliffs
Cleveland-Cliffs 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.
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