Mirae Asset Global Investments Co. Ltd. Has $81,000 Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 30.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,784 shares of the mining company’s stock after selling 3,828 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cleveland-Cliffs were worth $81,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Yousif Capital Management LLC increased its holdings in Cleveland-Cliffs by 2.0% during the 4th quarter. Yousif Capital Management LLC now owns 184,438 shares of the mining company’s stock valued at $1,734,000 after purchasing an additional 3,610 shares in the last quarter. Retirement Systems of Alabama grew its holdings in Cleveland-Cliffs by 1.7% during the 4th quarter. Retirement Systems of Alabama now owns 1,201,661 shares of the mining company’s stock worth $11,296,000 after acquiring an additional 20,024 shares during the last quarter. Ninety One UK Ltd increased its position in Cleveland-Cliffs by 121.5% in the 4th quarter. Ninety One UK Ltd now owns 1,501,297 shares of the mining company’s stock valued at $14,112,000 after acquiring an additional 823,562 shares in the last quarter. Hodges Capital Management Inc. lifted its position in shares of Cleveland-Cliffs by 13.4% during the fourth quarter. Hodges Capital Management Inc. now owns 3,316,786 shares of the mining company’s stock worth $31,178,000 after purchasing an additional 391,109 shares in the last quarter. Finally, JB Capital LLC increased its holdings in shares of Cleveland-Cliffs by 17.3% in the fourth quarter. JB Capital LLC now owns 102,248 shares of the mining company’s stock valued at $961,000 after purchasing an additional 15,046 shares in the last quarter. Institutional investors own 67.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective on the stock in a research report on Tuesday, January 7th. Citigroup lowered their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Morgan Stanley dropped their target price on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Finally, 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 objective for the company. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.68.

Cleveland-Cliffs Price Performance

Shares of CLF opened at $11.49 on Friday. The stock has a 50 day simple moving average of $10.19 and a 200 day simple moving average of $11.82. Cleveland-Cliffs Inc. has a 52-week low of $8.99 and a 52-week high of $22.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. The firm has a market capitalization of $5.67 billion, a PE ratio of -11.84 and a beta of 1.96.

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.