Cleveland-Cliffs Inc. (NYSE:CLF) Shares Purchased by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC boosted its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 271.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,900 shares of the mining company’s stock after purchasing an additional 35,000 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Cleveland-Cliffs were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CLF. Strengthening Families & Communities LLC increased its stake in Cleveland-Cliffs by 299.8% in the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after purchasing an additional 1,490 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in Cleveland-Cliffs during the third quarter valued at about $34,000. Truvestments Capital LLC purchased a new stake in Cleveland-Cliffs during the third quarter valued at about $34,000. Blue Trust Inc. grew its position in Cleveland-Cliffs by 231.9% during 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 during the period. Finally, GAMMA Investing LLC grew its position in Cleveland-Cliffs by 1,190.6% during the fourth quarter. GAMMA Investing LLC now owns 5,330 shares of the mining company’s stock valued at $50,000 after acquiring an additional 4,917 shares during the period. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Trading Down 2.2 %

NYSE:CLF opened at $10.26 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. Cleveland-Cliffs Inc. has a one year low of $8.99 and a one year high of $22.97. The business’s 50-day simple moving average is $10.50 and its 200 day simple moving average is $12.14. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of -10.57 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last released its earnings results 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 for the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the prior year, the business earned $0.54 EPS. The company’s quarterly revenue was down 18.5% on a year-over-year basis. As a group, sell-side analysts predict that Cleveland-Cliffs Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.