Vontobel Holding Ltd. Increases Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Vontobel Holding Ltd. grew its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 109.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 52,019 shares of the mining company’s stock after buying an additional 27,127 shares during the quarter. Vontobel Holding Ltd.’s holdings in Cleveland-Cliffs were worth $489,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CLF. Pacer Advisors Inc. raised its position in shares of Cleveland-Cliffs by 13.7% during the 3rd quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock worth $330,665,000 after acquiring an additional 3,110,651 shares in the last quarter. Barclays PLC boosted its stake in shares of Cleveland-Cliffs by 232.4% in the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock valued at $39,757,000 after buying an additional 2,176,837 shares in the last quarter. Stonegate Investment Group LLC purchased a new stake in shares of Cleveland-Cliffs in the fourth quarter valued at approximately $18,999,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Cleveland-Cliffs in the third quarter valued at approximately $22,122,000. Finally, International Assets Investment Management LLC boosted its position in Cleveland-Cliffs by 1,893.6% during the third quarter. International Assets Investment Management LLC now owns 1,227,848 shares of the mining company’s stock worth $156,800,000 after purchasing an additional 1,166,258 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Up 1.1 %

CLF opened at $11.98 on Friday. Cleveland-Cliffs Inc. has a 12 month low of $8.99 and a 12 month high of $22.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The stock has a market cap of $5.91 billion, a P/E ratio of -12.35 and a beta of 1.96. The stock’s 50 day moving average price is $10.19 and its 200 day moving average price is $11.74.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley cut their price target 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. The Goldman Sachs Group began coverage on Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 price target for the company. Glj Research raised Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a research report on Tuesday, January 7th. Citigroup reduced their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Finally, StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.68.

About Cleveland-Cliffs

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.