Cleveland-Cliffs Inc. (NYSE:CLF) Stock Position Decreased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 30.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,784 shares of the mining company’s stock after selling 3,828 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cleveland-Cliffs were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CLF. Strengthening Families & Communities LLC raised its holdings in shares of Cleveland-Cliffs by 299.8% during the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after purchasing an additional 1,490 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Cleveland-Cliffs in the 3rd quarter valued at approximately $34,000. Truvestments Capital LLC acquired a new stake in Cleveland-Cliffs in the 3rd quarter worth approximately $34,000. Blue Trust Inc. grew its holdings in Cleveland-Cliffs by 231.9% during the third quarter. Blue Trust Inc. now owns 3,634 shares of the mining company’s stock valued at $46,000 after purchasing an additional 2,539 shares during the last quarter. Finally, Eastern Bank acquired a new stake in shares of Cleveland-Cliffs in the third quarter worth $64,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Up 0.9 %

CLF stock opened at $11.49 on Friday. Cleveland-Cliffs Inc. has a 1-year low of $8.99 and a 1-year high of $22.97. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $10.19 and its 200-day moving average is $11.82. The firm has a market cap of $5.67 billion, a P/E ratio of -11.84 and a beta of 1.96.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Glj Research upgraded shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price on the stock in a report on Tuesday, January 7th. StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. The Goldman Sachs Group initiated coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 target price for the company. Morgan Stanley decreased their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, 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 report on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cleveland-Cliffs currently 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.