Stratos Wealth Partners LTD. Has $371,000 Stock Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Stratos Wealth Partners LTD. trimmed its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 30.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,428 shares of the mining company’s stock after selling 17,282 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Cleveland-Cliffs were worth $371,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC increased its position in Cleveland-Cliffs by 299.8% in the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after purchasing an additional 1,490 shares during the period. Darwin Wealth Management LLC acquired a new stake in Cleveland-Cliffs in the third quarter worth about $34,000. Truvestments Capital LLC acquired a new stake in Cleveland-Cliffs in the third quarter worth about $34,000. Blue Trust Inc. increased its position in Cleveland-Cliffs by 231.9% in the third quarter. Blue Trust Inc. now owns 3,634 shares of the mining company’s stock worth $46,000 after purchasing an additional 2,539 shares during the period. Finally, Eastern Bank bought a new position in Cleveland-Cliffs during the third quarter worth about $64,000. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Trading Down 6.6 %

NYSE:CLF opened at $10.55 on Thursday. Cleveland-Cliffs Inc. has a fifty-two week low of $8.99 and a fifty-two week high of $22.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The stock has a market capitalization of $5.21 billion, a PE ratio of -10.88 and a beta of 1.96. The business’s 50-day simple moving average is $10.21 and its 200-day simple moving average is $11.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup reduced their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. StockNews.com cut Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Morgan Stanley reduced their target price on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. The Goldman Sachs Group assumed coverage on Cleveland-Cliffs in a report on Monday, December 2nd. They set a “buy” rating and a $16.00 target price on the stock. Finally, Glj Research upgraded 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. Three research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.68.

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.