Vontobel Holding Ltd. Acquires 27,127 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Vontobel Holding Ltd. raised its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 109.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,019 shares of the mining company’s stock after acquiring an additional 27,127 shares during the quarter. Vontobel Holding Ltd.’s holdings in Cleveland-Cliffs were worth $489,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CLF. Strengthening Families & Communities LLC grew its position in 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 during the last quarter. Darwin Wealth Management LLC bought a new stake in Cleveland-Cliffs during the 3rd quarter worth approximately $34,000. Truvestments Capital LLC bought a new stake in Cleveland-Cliffs during the 3rd quarter worth approximately $34,000. Byrne Asset Management LLC raised its position in shares of Cleveland-Cliffs by 130.0% during the fourth quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company’s stock valued at $43,000 after buying an additional 2,600 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in Cleveland-Cliffs in the fourth quarter worth $44,000. 67.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CLF has been the topic of several research reports. Citigroup reduced their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group began coverage on Cleveland-Cliffs in a report on Monday, December 2nd. They issued a “buy” rating and a $16.00 price objective for the company. Glj Research upgraded shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a report on Tuesday, January 7th. Morgan Stanley cut their price objective on shares of 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 research report on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.68.

Cleveland-Cliffs Stock Performance

NYSE CLF opened at $11.98 on Friday. The stock has a market cap of $5.91 billion, a PE ratio of -12.35 and a beta of 1.96. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs Inc. has a twelve month low of $8.99 and a twelve month high of $22.97. The stock has a fifty day simple moving average of $10.19 and a 200-day simple moving average of $11.74.

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.