Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by Cwm LLC

Cwm LLC lessened its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 13.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,799 shares of the mining company’s stock after selling 3,817 shares during the quarter. Cwm LLC’s holdings in Cleveland-Cliffs were worth $317,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in Cleveland-Cliffs in the second quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Cleveland-Cliffs during the 2nd quarter valued at $31,000. Gradient Investments LLC increased its holdings in shares of Cleveland-Cliffs by 138.8% during the 2nd quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock worth $33,000 after buying an additional 1,249 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Cleveland-Cliffs by 41.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock worth $39,000 after buying an additional 500 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Cleveland-Cliffs by 247.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock worth $43,000 after buying an additional 1,343 shares during the period. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Down 2.2 %

NYSE CLF opened at $13.64 on Tuesday. The stock has a market cap of $6.49 billion, a P/E ratio of 18.43 and a beta of 1.98. The company’s fifty day simple moving average is $12.59 and its 200-day simple moving average is $15.24. The company has a current ratio of 1.87, a quick ratio of 0.60 and a debt-to-equity ratio of 0.48. Cleveland-Cliffs Inc. has a 52 week low of $10.21 and a 52 week high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Monday, July 22nd. The mining company reported $0.11 EPS for the quarter. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.18 billion. Cleveland-Cliffs had a net margin of 0.21% and a return on equity of 4.94%. The firm’s revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 EPS. Equities research analysts predict that Cleveland-Cliffs Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CLF has been the subject of a number of research reports. Morgan Stanley lowered their price target on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Bank of America decreased their target price on Cleveland-Cliffs from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Citigroup cut their price target on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Seaport Res Ptn raised shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, B. Riley reissued a “buy” rating and issued a $23.00 price objective on shares of Cleveland-Cliffs in a research report on Tuesday, June 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.56.

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.