Courier Capital LLC Sells 10,031 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Courier Capital LLC cut its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 26.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,716 shares of the mining company’s stock after selling 10,031 shares during the period. Courier Capital LLC’s holdings in Cleveland-Cliffs were worth $261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in shares of Cleveland-Cliffs during the 2nd quarter valued at $26,000. Strengthening Families & Communities LLC increased its holdings in Cleveland-Cliffs by 299.8% during the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after buying an additional 1,490 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Cleveland-Cliffs in the third quarter worth about $34,000. Truvestments Capital LLC purchased a new position in Cleveland-Cliffs in the third quarter valued at about $34,000. Finally, Blue Trust Inc. grew its position in shares of Cleveland-Cliffs by 231.9% during the 3rd 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. 67.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Cleveland-Cliffs Stock Down 2.6 %

CLF opened at $10.22 on Wednesday. The firm has a market capitalization of $5.05 billion, a P/E ratio of -10.54 and a beta of 1.97. Cleveland-Cliffs Inc. has a one year low of $8.99 and a one year high of $22.97. The company has a fifty day moving average price of $11.04 and a 200-day moving average price of $12.64. 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 (NYSE:CLF) last posted its 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). 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 analysts’ expectations of $4.72 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. Cleveland-Cliffs’s quarterly revenue was down 18.5% compared to the same quarter last year. Equities research analysts expect that Cleveland-Cliffs Inc. will post -0.45 earnings per share 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.