Mirae Asset Global Investments Co. Ltd. Buys 1,810 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Mirae Asset Global Investments Co. Ltd. increased its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 16.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,612 shares of the mining company’s stock after buying an additional 1,810 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cleveland-Cliffs were worth $161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CLF. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Cleveland-Cliffs by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,053 shares of the mining company’s stock worth $570,000 after acquiring an additional 476 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Cleveland-Cliffs by 5.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 20,037 shares of the mining company’s stock worth $456,000 after purchasing an additional 1,006 shares during the period. Mediolanum International Funds Ltd bought a new stake in Cleveland-Cliffs in the first quarter worth about $1,687,000. Csenge Advisory Group boosted its position in shares of Cleveland-Cliffs by 11.1% during the first quarter. Csenge Advisory Group now owns 28,716 shares of the mining company’s stock valued at $653,000 after buying an additional 2,874 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Cleveland-Cliffs during the first quarter valued at approximately $575,000. 67.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CLF has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price objective on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Citigroup decreased their target price 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. Finally, Seaport Res Ptn upgraded shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.56.

Cleveland-Cliffs Stock Performance

Shares of Cleveland-Cliffs stock opened at $13.11 on Tuesday. The company has a 50 day moving average price of $12.68 and a 200 day moving average price of $14.70. The firm has a market capitalization of $6.14 billion, a P/E ratio of 189.03 and a beta of 1.97. The company has a quick ratio of 0.60, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. Cleveland-Cliffs Inc. has a 52 week low of $10.21 and a 52 week high of $22.97.

Cleveland-Cliffs 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.