Janney Montgomery Scott LLC Acquires 29,532 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Janney Montgomery Scott LLC increased its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 27.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 138,553 shares of the mining company’s stock after buying an additional 29,532 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cleveland-Cliffs were worth $1,302,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Community Bank of Raymore lifted its stake in shares of Cleveland-Cliffs by 9.6% during the 4th quarter. Community Bank of Raymore now owns 35,265 shares of the mining company’s stock valued at $331,000 after buying an additional 3,090 shares in the last quarter. M.E. Allison & CO. Inc. purchased a new stake in shares of Cleveland-Cliffs during the fourth quarter worth $108,000. Arkadios Wealth Advisors boosted its holdings in shares of Cleveland-Cliffs by 31.4% in the fourth quarter. Arkadios Wealth Advisors now owns 68,251 shares of the mining company’s stock worth $642,000 after acquiring an additional 16,300 shares during the period. KMG Fiduciary Partners LLC grew its position in shares of Cleveland-Cliffs by 58.5% in the fourth quarter. KMG Fiduciary Partners LLC now owns 237,031 shares of the mining company’s stock valued at $2,228,000 after purchasing an additional 87,454 shares in the last quarter. Finally, Empirical Asset Management LLC bought a new stake in shares of Cleveland-Cliffs during the 4th quarter valued at $96,000. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Up 8.0 %

Shares of CLF opened at $10.52 on Wednesday. Cleveland-Cliffs Inc. has a fifty-two week low of $8.99 and a fifty-two 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 company’s fifty day moving average is $10.41 and its 200 day moving average is $12.02. The stock has a market capitalization of $5.19 billion, a PE ratio of -10.84 and a beta of 1.96.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter last year, the firm posted $0.54 EPS. Cleveland-Cliffs’s revenue for the quarter was down 18.5% compared to the same quarter last year. Sell-side analysts expect that Cleveland-Cliffs Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on CLF. StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. The Goldman Sachs Group initiated coverage on shares of Cleveland-Cliffs in a research report 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 price objective for the company in a research note on Tuesday, January 7th. Citigroup decreased their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, Morgan Stanley dropped their price target on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cleveland-Cliffs has a consensus rating of “Hold” and an average price target of $16.68.

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.