De Lisle Partners LLP Boosts Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

De Lisle Partners LLP raised its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 25.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,000 shares of the mining company’s stock after acquiring an additional 15,000 shares during the quarter. De Lisle Partners LLP’s holdings in Cleveland-Cliffs were worth $945,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CLF. LRI Investments LLC purchased a new stake in Cleveland-Cliffs in the 1st quarter worth about $45,000. Swedbank AB bought a new stake in shares of Cleveland-Cliffs during the 1st quarter valued at $1,934,000. Cetera Investment Advisers lifted its holdings in shares of Cleveland-Cliffs by 316.1% in the first quarter. Cetera Investment Advisers now owns 318,990 shares of the mining company’s stock worth $7,254,000 after buying an additional 242,332 shares in the last quarter. Cetera Advisors LLC lifted its stake in Cleveland-Cliffs by 27.7% in the 1st quarter. Cetera Advisors LLC now owns 50,839 shares of the mining company’s stock worth $1,156,000 after purchasing an additional 11,021 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Cleveland-Cliffs by 2.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 40,118 shares of the mining company’s stock valued at $879,000 after buying an additional 984 shares during the period. 67.68% of the stock is owned by institutional investors.

Cleveland-Cliffs Price Performance

CLF opened at $12.14 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. The stock has a market capitalization of $6.00 billion, a PE ratio of -12.52 and a beta of 1.97. The stock’s 50 day moving average price is $12.68 and its 200-day moving average price is $13.97. Cleveland-Cliffs Inc. has a 52-week low of $10.21 and a 52-week high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data 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 net margin of 2.31% and a negative return on equity of 0.59%. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. On average, equities research analysts predict that Cleveland-Cliffs Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CLF. Citigroup dropped their price objective on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a report on Tuesday, September 10th. StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Morgan Stanley reduced their price target on 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 issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.56.

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.