11,500 Shares in Cleveland-Cliffs Inc. (NYSE:CLF) Bought by M.E. Allison & CO. Inc.

M.E. Allison & CO. Inc. acquired a new stake in Cleveland-Cliffs Inc. (NYSE:CLF) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,500 shares of the mining company’s stock, valued at approximately $108,000.

Several other hedge funds also recently made changes to their positions in CLF. Altus Wealth Group LLC lifted its position in shares of Cleveland-Cliffs by 7.2% during the 3rd quarter. Altus Wealth Group LLC now owns 11,900 shares of the mining company’s stock valued at $152,000 after acquiring an additional 800 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Cleveland-Cliffs by 7.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 13,066 shares of the mining company’s stock valued at $201,000 after purchasing an additional 949 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Cleveland-Cliffs by 3.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 40,408 shares of the mining company’s stock valued at $515,000 after purchasing an additional 1,237 shares in the last quarter. Sterneck Capital Management LLC raised its holdings in Cleveland-Cliffs by 7.6% during the third quarter. Sterneck Capital Management LLC now owns 19,512 shares of the mining company’s stock worth $249,000 after purchasing an additional 1,378 shares during the last quarter. Finally, Peddock Capital Advisors LLC grew its holdings in Cleveland-Cliffs by 7.4% in the third quarter. Peddock Capital Advisors LLC now owns 20,229 shares of the mining company’s stock valued at $258,000 after purchasing an additional 1,396 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Down 1.4 %

Shares of NYSE:CLF opened at $10.28 on Tuesday. Cleveland-Cliffs Inc. has a 12-month low of $8.99 and a 12-month high of $22.97. The stock’s 50-day moving average price is $10.78 and its two-hundred day moving average price is $12.45. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of -10.59 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. Cleveland-Cliffs’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 earnings per share. On average, research analysts forecast that Cleveland-Cliffs Inc. will post -0.67 EPS for the current year.

Analyst Upgrades and Downgrades

CLF has been the topic of several recent research reports. Citigroup decreased their price objective on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock 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 report on Thursday, November 7th. Glj Research raised shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective for the company in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group initiated coverage on Cleveland-Cliffs in a research note on Monday, December 2nd. They issued a “buy” rating and a $16.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cleveland-Cliffs presently 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.