Private Advisor Group LLC Has $3.14 Million Stock Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Private Advisor Group LLC raised its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 334,253 shares of the mining company’s stock after acquiring an additional 6,263 shares during the quarter. Private Advisor Group LLC owned approximately 0.07% of Cleveland-Cliffs worth $3,142,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Strengthening Families & Communities LLC grew its position 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 in the last quarter. Darwin Wealth Management LLC bought a new stake in Cleveland-Cliffs during the 3rd quarter worth about $34,000. Truvestments Capital LLC acquired a new position in shares of Cleveland-Cliffs during the 3rd quarter worth about $34,000. Byrne Asset Management LLC grew its holdings in shares of Cleveland-Cliffs by 130.0% in the 4th quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company’s stock valued at $43,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Cleveland-Cliffs in the fourth quarter valued at about $44,000. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Stock Performance

Shares of CLF stock opened at $11.35 on Monday. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of -11.70 and a beta of 1.96. 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 52 week low of $8.99 and a 52 week high of $22.97. The company has a 50-day simple moving average of $10.22 and a 200 day simple moving average of $11.71.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CLF. Citigroup reduced their price target 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. Morgan Stanley cut their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. StockNews.com downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. B. Riley reiterated a “buy” rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group began coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cleveland-Cliffs has a consensus rating of “Hold” and a consensus price target of $16.68.

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.