Cleveland-Cliffs Inc. (NYSE:CLF) Shares Bought by Matrix Trust Co

Matrix Trust Co lifted its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 813.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,412 shares of the mining company’s stock after purchasing an additional 15,506 shares during the quarter. Matrix Trust Co’s holdings in Cleveland-Cliffs were worth $164,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CLF. GAMMA Investing LLC grew its position in Cleveland-Cliffs by 1,190.6% during the fourth quarter. GAMMA Investing LLC now owns 5,330 shares of the mining company’s stock worth $50,000 after buying an additional 4,917 shares during the period. Franklin Resources Inc. boosted its stake in shares of Cleveland-Cliffs by 105.6% during the 3rd quarter. Franklin Resources Inc. now owns 262,771 shares of the mining company’s stock worth $3,429,000 after acquiring an additional 134,939 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cleveland-Cliffs in the 3rd quarter worth approximately $64,000. Arete Wealth Advisors LLC purchased a new position in Cleveland-Cliffs in the 3rd quarter valued at approximately $1,222,000. Finally, Neo Ivy Capital Management acquired a new position in Cleveland-Cliffs during the third quarter worth $1,444,000. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Up 5.8 %

CLF opened at $10.47 on Tuesday. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of -10.79 and a beta of 1.97. Cleveland-Cliffs Inc. has a 12 month low of $8.99 and a 12 month high of $22.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The business has a 50-day moving average of $11.09 and a two-hundred day moving average of $12.67.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly 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). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period last year, the company posted $0.54 EPS. The business’s revenue for the quarter was down 18.5% on a year-over-year basis. On average, research analysts expect that Cleveland-Cliffs Inc. will post -0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CLF shares. StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Morgan Stanley cut their target price 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. Citigroup lowered their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group began coverage on Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective for the company. Finally, Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price on the stock in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.93.

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.