Private Advisor Group LLC Has $3.14 Million Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

Private Advisor Group LLC raised its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 334,253 shares of the mining company’s stock after buying an additional 6,263 shares during the period. Private Advisor Group LLC’s holdings in Cleveland-Cliffs were worth $3,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CLF. Creative Planning raised its holdings in Cleveland-Cliffs by 2.6% in the 3rd quarter. Creative Planning now owns 121,908 shares of the mining company’s stock valued at $1,557,000 after buying an additional 3,147 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Cleveland-Cliffs by 231.9% in the 3rd 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 in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Cleveland-Cliffs during the third quarter valued at about $327,000. Signaturefd LLC boosted its holdings in Cleveland-Cliffs by 138.8% in the third quarter. Signaturefd LLC now owns 8,682 shares of the mining company’s stock worth $111,000 after acquiring an additional 5,047 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Cleveland-Cliffs by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,612 shares of the mining company’s stock valued at $161,000 after purchasing an additional 1,810 shares during the period. Institutional investors own 67.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Cleveland-Cliffs Stock Down 5.3 %

CLF stock opened at $11.35 on Monday. Cleveland-Cliffs Inc. has a fifty-two week low of $8.99 and a fifty-two week high of $22.97. The stock has a fifty day moving average of $10.22 and a 200-day moving average of $11.71. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of -11.70 and a beta of 1.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85.

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.