Amundi Has $2.66 Million Holdings in Cleveland-Cliffs Inc. $CLF

Amundi lessened its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 323,183 shares of the mining company’s stock after selling 4,141 shares during the quarter. Amundi’s holdings in Cleveland-Cliffs were worth $2,657,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CLF. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cleveland-Cliffs by 22.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,298,868 shares of the mining company’s stock worth $12,209,000 after purchasing an additional 242,386 shares in the last quarter. Twelve Points Wealth Management LLC lifted its position in shares of Cleveland-Cliffs by 51.7% in the first quarter. Twelve Points Wealth Management LLC now owns 225,499 shares of the mining company’s stock worth $1,854,000 after purchasing an additional 76,827 shares in the last quarter. Wexford Capital LP lifted its position in shares of Cleveland-Cliffs by 1,212.0% in the fourth quarter. Wexford Capital LP now owns 1,018,950 shares of the mining company’s stock worth $9,578,000 after purchasing an additional 941,284 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Cleveland-Cliffs by 231.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,561,774 shares of the mining company’s stock worth $12,838,000 after purchasing an additional 1,090,237 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in shares of Cleveland-Cliffs in the fourth quarter worth $260,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CLF. Citigroup boosted their price objective on shares of Cleveland-Cliffs from $7.50 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Glj Research lowered shares of Cleveland-Cliffs from a “strong-buy” rating to a “strong sell” rating and set a $3.91 price objective on the stock. in a research report on Wednesday, May 28th. KeyCorp raised shares of Cleveland-Cliffs from a “sector weight” rating to an “overweight” rating and set a $14.00 price objective on the stock in a research report on Tuesday, July 22nd. Morgan Stanley boosted their price objective on shares of Cleveland-Cliffs from $8.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Cleveland-Cliffs from $7.50 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.96.

Cleveland-Cliffs Stock Performance

NYSE CLF opened at $11.82 on Friday. The company has a current ratio of 2.04, a quick ratio of 0.61 and a debt-to-equity ratio of 1.28. The firm’s fifty day moving average price is $10.26 and its two-hundred day moving average price is $8.81. Cleveland-Cliffs Inc. has a 1 year low of $5.63 and a 1 year high of $14.34. The firm has a market capitalization of $5.85 billion, a P/E ratio of -3.47 and a beta of 1.93.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Monday, July 21st. The mining company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.18. Cleveland-Cliffs had a negative net margin of 9.03% and a negative return on equity of 17.97%. The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the firm posted $0.11 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

Cleveland-Cliffs 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.