Neville Rodie & Shaw Inc. Reduces Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Neville Rodie & Shaw Inc. cut its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 83.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,370 shares of the mining company’s stock after selling 70,625 shares during the period. Neville Rodie & Shaw Inc.’s holdings in Cleveland-Cliffs were worth $135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CLF. Altshuler Shaham Ltd acquired a new position in shares of Cleveland-Cliffs in the second quarter worth about $26,000. Strengthening Families & Communities LLC raised its holdings 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 purchasing an additional 1,490 shares during the period. Darwin Wealth Management LLC purchased a new position in Cleveland-Cliffs during the third quarter worth approximately $34,000. Truvestments Capital LLC acquired a new stake in Cleveland-Cliffs in the third quarter valued at approximately $34,000. Finally, Blue Trust Inc. increased its position in shares of Cleveland-Cliffs by 231.9% in the third quarter. Blue Trust Inc. now owns 3,634 shares of the mining company’s stock valued at $46,000 after buying an additional 2,539 shares in the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Cleveland-Cliffs Stock Up 4.0 %

NYSE CLF opened at $9.88 on Tuesday. The business’s fifty day simple moving average is $11.37 and its 200-day simple moving average is $12.81. 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 firm has a market cap of $4.88 billion, a PE ratio of -10.19 and a beta of 1.97. Cleveland-Cliffs Inc. has a 52 week low of $8.99 and a 52 week high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share 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 net margin of 2.31% and a negative return on equity of 0.59%. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, equities analysts anticipate that Cleveland-Cliffs Inc. will post -0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. StockNews.com downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. The Goldman Sachs Group started coverage on Cleveland-Cliffs in a report on Monday, December 2nd. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Citigroup decreased their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.22.

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.