Stratos Wealth Partners LTD. Sells 17,282 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Stratos Wealth Partners LTD. trimmed its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 30.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,428 shares of the mining company’s stock after selling 17,282 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Cleveland-Cliffs were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CLF. Pacer Advisors Inc. lifted its position in Cleveland-Cliffs by 13.7% in the third quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock worth $330,665,000 after purchasing an additional 3,110,651 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Cleveland-Cliffs by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,751,153 shares of the mining company’s stock worth $47,902,000 after purchasing an additional 121,389 shares during the period. Hodges Capital Management Inc. lifted its position in Cleveland-Cliffs by 13.4% in 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 during the period. Drexel Morgan & Co. lifted its position in Cleveland-Cliffs by 3.8% in the third quarter. Drexel Morgan & Co. now owns 3,200,395 shares of the mining company’s stock worth $40,869,000 after purchasing an additional 116,400 shares during the period. Finally, Barclays PLC lifted its position in Cleveland-Cliffs by 232.4% in the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock worth $39,757,000 after purchasing an additional 2,176,837 shares during the period. 67.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Glj Research raised Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a research report on Tuesday, January 7th. Morgan Stanley reduced their target price on 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. StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Citigroup dropped their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group assumed 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 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 company has an average rating of “Hold” and a consensus target price of $16.68.

Cleveland-Cliffs Stock Performance

Shares of NYSE:CLF opened at $10.55 on Thursday. Cleveland-Cliffs Inc. has a twelve month low of $8.99 and a twelve month high of $22.97. The firm has a market cap of $5.21 billion, a PE ratio of -10.88 and a beta of 1.96. 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 business has a fifty day moving average of $10.21 and a 200-day moving average of $11.85.

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.