Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 34.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,568 shares of the mining company’s stock after selling 45,580 shares during the quarter. Intech Investment Management LLC’s holdings in Cleveland-Cliffs were worth $1,093,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CLF. Twelve Points Wealth Management LLC increased its stake in shares of Cleveland-Cliffs by 58.5% in the third quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company’s stock worth $1,708,000 after acquiring an additional 49,359 shares during the period. Commerce Bank grew its position in Cleveland-Cliffs by 342.8% during 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. raised its stake in shares of Cleveland-Cliffs by 5.0% during 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 buying an additional 104,197 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Cleveland-Cliffs by 2.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 40,118 shares of the mining company’s stock valued at $879,000 after buying an additional 984 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in shares of Cleveland-Cliffs by 295.9% in the third quarter. GSA Capital Partners LLP now owns 205,461 shares of the mining company’s stock worth $2,624,000 after buying an additional 153,560 shares during the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Cleveland-Cliffs Stock Up 0.8 %

Shares of NYSE CLF opened at $12.15 on Thursday. Cleveland-Cliffs Inc. has a 52-week low of $10.21 and a 52-week high of $22.97. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The company’s 50-day simple moving average is $12.66 and its 200-day simple moving average is $13.99. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of -12.62 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. Cleveland-Cliffs’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. Equities analysts predict that Cleveland-Cliffs Inc. will post -0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CLF. Citigroup reduced their price target on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. StockNews.com downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Seaport Res Ptn upgraded shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Morgan Stanley decreased 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 report on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cleveland-Cliffs currently has a consensus rating of “Hold” and an average price target of $17.56.

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.