Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by Dakota Wealth Management

Dakota Wealth Management lessened its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 4.5% in the fourth quarter, Holdings Channel reports. The firm owned 57,882 shares of the mining company’s stock after selling 2,698 shares during the period. Dakota Wealth Management’s holdings in Cleveland-Cliffs were worth $544,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Strengthening Families & Communities LLC boosted its position in shares of Cleveland-Cliffs by 299.8% in the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after buying an additional 1,490 shares during the period. Darwin Wealth Management LLC acquired a new position in Cleveland-Cliffs during the 3rd quarter worth approximately $34,000. Truvestments Capital LLC purchased a new position in Cleveland-Cliffs in the 3rd quarter worth approximately $34,000. Blue Trust Inc. grew its position in 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 acquiring an additional 2,539 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Cleveland-Cliffs by 144.5% during the second quarter. EverSource Wealth Advisors LLC now owns 4,608 shares of the mining company’s stock valued at $71,000 after purchasing an additional 2,723 shares during the period. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Analyst Ratings Changes

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

Cleveland-Cliffs Stock Performance

Cleveland-Cliffs stock opened at $10.01 on Friday. The company has a market cap of $4.94 billion, a PE ratio of -10.31 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 fifty day moving average price of $10.65 and a two-hundred day moving average price of $12.32. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the prior year, the company earned $0.54 EPS. Cleveland-Cliffs’s quarterly revenue was down 18.5% on a year-over-year basis. Research analysts expect that Cleveland-Cliffs Inc. will post -0.71 earnings per share 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.