SJS Investment Consulting Inc. Reduces Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

SJS Investment Consulting Inc. decreased its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 40.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,000 shares of the mining company’s stock after selling 2,012 shares during the quarter. SJS Investment Consulting Inc.’s holdings in Cleveland-Cliffs were worth $28,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CLF. Secure Asset Management LLC grew its holdings in shares of Cleveland-Cliffs by 13.1% during the fourth quarter. Secure Asset Management LLC now owns 31,390 shares of the mining company’s stock worth $295,000 after buying an additional 3,625 shares during the last quarter. D.B. Root & Company LLC purchased a new position in shares of Cleveland-Cliffs during the fourth quarter worth about $95,000. Janney Montgomery Scott LLC grew its holdings in shares of 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 buying an additional 29,532 shares during the last quarter. Community Bank of Raymore grew its holdings in shares of Cleveland-Cliffs by 9.6% during the fourth quarter. Community Bank of Raymore now owns 35,265 shares of the mining company’s stock worth $331,000 after buying an additional 3,090 shares during the last quarter. Finally, M.E. Allison & CO. Inc. acquired a new stake in Cleveland-Cliffs in the fourth quarter valued at about $108,000. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Wall Street Analyst Weigh In

CLF has been the subject of a number of recent analyst reports. Citigroup reduced their price objective on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. StockNews.com downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. The Goldman Sachs Group started 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 raised shares of 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. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.93.

Cleveland-Cliffs Price Performance

Shares of Cleveland-Cliffs stock opened at $10.01 on Friday. The company has a fifty day moving average price of $10.65 and a 200 day moving average price of $12.34. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs Inc. has a twelve month low of $8.99 and a twelve month high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) 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 firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. Equities analysts expect that Cleveland-Cliffs Inc. will post -0.71 EPS for the current fiscal 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.