GAMMA Investing LLC Purchases 4,917 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

GAMMA Investing LLC boosted its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 1,190.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,330 shares of the mining company’s stock after buying an additional 4,917 shares during the period. GAMMA Investing LLC’s holdings in Cleveland-Cliffs were worth $50,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Cleveland-Cliffs during the second quarter valued at approximately $26,000. Strengthening Families & Communities LLC boosted its stake in Cleveland-Cliffs by 299.8% during the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after buying an additional 1,490 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Cleveland-Cliffs during the third quarter valued at approximately $34,000. Truvestments Capital LLC bought a new position in Cleveland-Cliffs during the third quarter valued at approximately $34,000. Finally, Blue Trust Inc. boosted its stake 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 buying an additional 2,539 shares during the last quarter. 67.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CLF has been the subject of a number of research reports. Morgan Stanley dropped their price target on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. Citigroup lowered 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. Glj Research raised Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group began coverage on Cleveland-Cliffs in a research note on Monday, December 2nd. They issued a “buy” rating and a $16.00 price objective for the company. Finally, StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $16.93.

Cleveland-Cliffs Trading Up 5.8 %

CLF opened at $10.47 on Tuesday. The stock’s fifty day moving average is $11.09 and its two-hundred day moving average is $12.67. The company has a market capitalization of $5.17 billion, a P/E ratio of -10.79 and a beta of 1.97. Cleveland-Cliffs Inc. has a 52 week low of $8.99 and a 52 week high of $22.97. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. Analysts forecast that Cleveland-Cliffs Inc. will post -0.45 earnings per share for the current year.

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.