Strategic Financial Concepts LLC Takes $442,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Strategic Financial Concepts LLC bought a new stake in Cleveland-Cliffs Inc. (NYSE:CLF) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 47,000 shares of the mining company’s stock, valued at approximately $442,000.

A number of other institutional investors have also modified their holdings of the stock. Altus Wealth Group LLC increased its holdings in shares of Cleveland-Cliffs by 7.2% in the third quarter. Altus Wealth Group LLC now owns 11,900 shares of the mining company’s stock valued at $152,000 after purchasing an additional 800 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Cleveland-Cliffs by 3.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 40,408 shares of the mining company’s stock valued at $515,000 after purchasing an additional 1,237 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in Cleveland-Cliffs by 11.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 13,270 shares of the mining company’s stock worth $125,000 after acquiring an additional 1,313 shares during the period. Strengthening Families & Communities LLC grew its holdings in Cleveland-Cliffs by 299.8% during the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after acquiring an additional 1,490 shares during the period. Finally, Private Trust Co. NA grew its holdings in Cleveland-Cliffs by 3.8% during the third quarter. Private Trust Co. NA now owns 40,531 shares of the mining company’s stock worth $518,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Down 6.6 %

CLF opened at $10.55 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. Cleveland-Cliffs Inc. has a one year low of $8.99 and a one year high of $22.97. The business’s fifty day moving average is $10.21 and its two-hundred day moving average is $11.85. The company has a market cap of $5.21 billion, a price-to-earnings ratio of -10.88 and a beta of 1.96.

Analysts Set New Price Targets

CLF has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on Cleveland-Cliffs in a report on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective on the stock. Citigroup dropped their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Glj Research raised Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective on the stock in a report on Tuesday, January 7th. Morgan Stanley dropped their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Finally, StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.68.

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.