Cleveland-Cliffs Inc. (NYSE:CLF) Stock Holdings Boosted by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 28.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,280 shares of the mining company’s stock after purchasing an additional 4,215 shares during the quarter. Advisors Asset Management Inc.’s holdings in Cleveland-Cliffs were worth $246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of Cleveland-Cliffs during the first quarter valued at approximately $45,000. Swedbank AB acquired a new position in Cleveland-Cliffs during the 1st quarter worth $1,934,000. Cetera Investment Advisers boosted its position in Cleveland-Cliffs by 316.1% during the 1st quarter. Cetera Investment Advisers now owns 318,990 shares of the mining company’s stock worth $7,254,000 after acquiring an additional 242,332 shares during the period. Cetera Advisors LLC grew its stake in shares of Cleveland-Cliffs by 27.7% in the first quarter. Cetera Advisors LLC now owns 50,839 shares of the mining company’s stock worth $1,156,000 after purchasing an additional 11,021 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Cleveland-Cliffs by 2.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 40,118 shares of the mining company’s stock valued at $879,000 after purchasing an additional 984 shares in the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Citigroup decreased their target price on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Seaport Res Ptn upgraded shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Morgan Stanley dropped their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Finally, StockNews.com cut Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.56.

Cleveland-Cliffs Trading Up 0.7 %

Shares of NYSE CLF opened at $12.14 on Friday. The business has a fifty day simple moving average of $12.68 and a 200-day simple moving average of $13.97. The company has a market cap of $6.00 billion, a price-to-earnings ratio of -12.52 and a beta of 1.97. Cleveland-Cliffs Inc. has a 12 month low of $10.21 and a 12 month 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.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results 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 during the quarter, compared to analyst estimates of $4.72 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. Sell-side analysts predict that Cleveland-Cliffs Inc. will post -0.4 EPS 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.