Cleveland-Cliffs Inc. (NYSE:CLF) Position Raised by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. raised its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 8.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 67,700 shares of the mining company’s stock after buying an additional 5,200 shares during the period. Beech Hill Advisors Inc.’s holdings in Cleveland-Cliffs were worth $636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC grew its holdings in Cleveland-Cliffs by 29.1% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 14,008 shares of the mining company’s stock worth $132,000 after acquiring an additional 3,155 shares during the period. Cullen Investment Group LTD. grew its stake in shares of Cleveland-Cliffs by 25.1% in the 4th quarter. Cullen Investment Group LTD. now owns 48,069 shares of the mining company’s stock worth $452,000 after purchasing an additional 9,650 shares during the last quarter. FNY Investment Advisers LLC raised its holdings in shares of Cleveland-Cliffs by 27,841.2% in the 4th quarter. FNY Investment Advisers LLC now owns 19,000 shares of the mining company’s stock worth $178,000 after purchasing an additional 18,932 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in Cleveland-Cliffs during the fourth quarter valued at approximately $137,000. Finally, Matrix Trust Co boosted its holdings in Cleveland-Cliffs by 813.5% during the fourth quarter. Matrix Trust Co now owns 17,412 shares of the mining company’s stock worth $164,000 after buying an additional 15,506 shares in the last quarter. Institutional investors own 67.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CLF shares. Glj Research raised Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price target on the stock in a report on Tuesday, January 7th. Citigroup reduced their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. StockNews.com cut Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. The Goldman Sachs Group assumed coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective for the company. Finally, Morgan Stanley dropped their target price on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.93.

Cleveland-Cliffs Stock Up 1.8 %

CLF traded up $0.18 during trading on Thursday, reaching $10.42. 747,306 shares of the stock traded hands, compared to its average volume of 14,364,971. 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 Inc. has a fifty-two week low of $8.99 and a fifty-two week high of $22.97. The stock’s 50-day simple moving average is $10.94 and its two-hundred day simple moving average is $12.59. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of -10.74 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last announced 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). The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. As a group, equities research analysts expect that Cleveland-Cliffs Inc. will post -0.67 EPS for the current year.

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.