Twelve Points Wealth Management LLC Increases Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Twelve Points Wealth Management LLC boosted its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 11.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,672 shares of the mining company’s stock after purchasing an additional 14,955 shares during the period. Twelve Points Wealth Management LLC’s holdings in Cleveland-Cliffs were worth $1,398,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CLF. Patriot Financial Group Insurance Agency LLC grew its holdings in Cleveland-Cliffs by 11.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 13,270 shares of the mining company’s stock valued at $125,000 after purchasing an additional 1,313 shares during the last quarter. Stonegate Investment Group LLC acquired a new stake in Cleveland-Cliffs in the 4th quarter valued at about $18,999,000. Secure Asset Management LLC grew its stake in Cleveland-Cliffs by 13.1% in the 4th quarter. Secure Asset Management LLC now owns 31,390 shares of the mining company’s stock valued at $295,000 after acquiring an additional 3,625 shares during the last quarter. D.B. Root & Company LLC purchased a new position in Cleveland-Cliffs during the 4th quarter valued at about $95,000. Finally, Janney Montgomery Scott LLC raised its position in Cleveland-Cliffs by 27.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 138,553 shares of the mining company’s stock worth $1,302,000 after acquiring an additional 29,532 shares during the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Cleveland-Cliffs Price Performance

CLF stock opened at $10.14 on Wednesday. The company has a market cap of $5.01 billion, a PE ratio of -10.46 and a beta of 1.97. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $10.60 and a two-hundred day moving average price of $12.21. Cleveland-Cliffs Inc. has a 12-month low of $8.99 and a 12-month 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 (EPS) for the quarter, missing analysts’ consensus estimates 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 business 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 firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. As a group, research analysts predict that Cleveland-Cliffs Inc. will post -0.71 EPS for the current year.

Analysts Set New Price Targets

CLF has been the subject of a number of recent research reports. Glj Research raised shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective for the company in a research note on Tuesday, January 7th. Citigroup reduced their price objective 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. The Goldman Sachs Group initiated 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, StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.