Stifel Financial Corp Has $1.25 Million Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Stifel Financial Corp lessened its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 14.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,531 shares of the mining company’s stock after selling 16,301 shares during the period. Stifel Financial Corp’s holdings in Cleveland-Cliffs were worth $1,245,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CLF. Fifth Third Bancorp grew its holdings in shares of Cleveland-Cliffs by 57.1% during the 2nd quarter. Fifth Third Bancorp now owns 9,665 shares of the mining company’s stock worth $149,000 after purchasing an additional 3,514 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Cleveland-Cliffs by 9.7% during the second quarter. New York State Teachers Retirement System now owns 508,257 shares of the mining company’s stock worth $7,822,000 after buying an additional 44,985 shares in the last quarter. Clear Creek Financial Management LLC increased its holdings in Cleveland-Cliffs by 6.9% in the 2nd quarter. Clear Creek Financial Management LLC now owns 15,450 shares of the mining company’s stock valued at $238,000 after buying an additional 1,000 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Cleveland-Cliffs by 23.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,597,662 shares of the mining company’s stock valued at $86,148,000 after buying an additional 1,069,907 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of Cleveland-Cliffs during the 2nd quarter worth about $155,000. 67.68% of the stock is owned by institutional investors and hedge funds.

Cleveland-Cliffs Stock Up 0.5 %

Shares of NYSE CLF opened at $9.38 on Monday. Cleveland-Cliffs Inc. has a 12-month low of $9.13 and a 12-month high of $22.97. The firm’s 50-day simple moving average is $12.22 and its 200 day simple moving average is $13.27. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The company has a market cap of $4.63 billion, a price-to-earnings ratio of -9.67 and a beta of 1.92.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.72 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. Cleveland-Cliffs’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 earnings per share. On average, research analysts expect that Cleveland-Cliffs Inc. will post -0.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CLF. Morgan Stanley lowered their target price on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. Seaport Res Ptn upgraded Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. The Goldman Sachs Group began coverage on Cleveland-Cliffs in a research report on Monday, December 2nd. They issued a “buy” rating and a $16.00 price target on the stock. Finally, Citigroup cut their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.22.

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.