J.W. Cole Advisors Inc. Purchases 4,500 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

J.W. Cole Advisors Inc. lifted its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 16.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,365 shares of the mining company’s stock after purchasing an additional 4,500 shares during the period. J.W. Cole Advisors Inc.’s holdings in Cleveland-Cliffs were worth $295,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of Cleveland-Cliffs by 13.7% during the 3rd quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock worth $330,665,000 after buying an additional 3,110,651 shares in the last quarter. Barclays PLC lifted its holdings in Cleveland-Cliffs by 232.4% during the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock worth $39,757,000 after acquiring an additional 2,176,837 shares during the period. Stonegate Investment Group LLC purchased a new position in Cleveland-Cliffs in the fourth quarter worth $18,999,000. Rockefeller Capital Management L.P. bought a new position in Cleveland-Cliffs in the 3rd quarter valued at $22,122,000. Finally, International Assets Investment Management LLC increased its position in shares of Cleveland-Cliffs by 1,893.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,227,848 shares of the mining company’s stock valued at $156,800,000 after purchasing an additional 1,166,258 shares during the last quarter. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Cleveland-Cliffs Price Performance

Cleveland-Cliffs stock opened at $11.98 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. Cleveland-Cliffs Inc. has a one year low of $8.99 and a one year high of $22.97. The firm has a market capitalization of $5.91 billion, a P/E ratio of -12.35 and a beta of 1.96. The business has a fifty day moving average price of $10.19 and a 200-day moving average price of $11.74.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CLF. Citigroup cut their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group initiated coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 target price for the company. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Morgan Stanley dropped their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Finally, Glj Research raised Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.68.

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.