Creative Planning Increases Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Creative Planning raised its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,908 shares of the mining company’s stock after purchasing an additional 3,147 shares during the quarter. Creative Planning’s holdings in Cleveland-Cliffs were worth $1,557,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CLF. Altshuler Shaham Ltd purchased a new position in shares of Cleveland-Cliffs in the 2nd quarter valued at approximately $26,000. Hexagon Capital Partners LLC lifted its position in Cleveland-Cliffs by 41.7% during the first quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock valued at $39,000 after buying an additional 500 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Cleveland-Cliffs by 247.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock valued at $43,000 after buying an additional 1,343 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Cleveland-Cliffs in the 1st quarter worth about $45,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Cleveland-Cliffs in the 2nd quarter worth about $31,000. 67.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CLF. Seaport Res Ptn raised shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Morgan Stanley dropped their price target on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Finally, Citigroup reduced their price objective on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.56.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $13.72 on Wednesday. The business has a 50-day simple moving average of $12.67 and a two-hundred day simple moving average of $14.87. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.60 and a current ratio of 1.87. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 18.54 and a beta of 1.98. Cleveland-Cliffs Inc. has a fifty-two week low of $10.21 and a fifty-two week high of $22.97.

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.