Cleveland-Cliffs Inc. (NYSE:CLF) Shares Bought by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. grew its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 74.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 24,088 shares of the mining company’s stock after buying an additional 10,288 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Cleveland-Cliffs were worth $308,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in Cleveland-Cliffs by 54.7% in the second quarter. Dimensional Fund Advisors LP now owns 15,906,597 shares of the mining company’s stock valued at $244,794,000 after acquiring an additional 5,621,797 shares during the period. AQR Capital Management LLC lifted its stake in shares of Cleveland-Cliffs by 49.9% in the second quarter. AQR Capital Management LLC now owns 6,093,632 shares of the mining company’s stock valued at $93,172,000 after purchasing an additional 2,027,757 shares during the period. International Assets Investment Management LLC boosted its holdings in Cleveland-Cliffs by 1,893.6% during the third quarter. International Assets Investment Management LLC now owns 1,227,848 shares of the mining company’s stock worth $156,800,000 after buying an additional 1,166,258 shares in the last quarter. Bank of New York Mellon Corp grew its position in Cleveland-Cliffs by 23.6% during the second quarter. Bank of New York Mellon Corp now owns 5,597,662 shares of the mining company’s stock worth $86,148,000 after buying an additional 1,069,907 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in Cleveland-Cliffs by 1,650.8% in the second quarter. WINTON GROUP Ltd now owns 874,464 shares of the mining company’s stock valued at $13,458,000 after buying an additional 824,518 shares in the last quarter. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CLF shares. Seaport Res Ptn raised 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. Citigroup lowered their target price on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Finally, Morgan Stanley cut 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. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.56.

Cleveland-Cliffs Stock Up 4.9 %

CLF opened at $12.46 on Monday. The firm has a market cap of $6.15 billion, a P/E ratio of -12.85 and a beta of 1.97. The business’s fifty day simple moving average is $12.64 and its 200 day simple moving average is $14.06. Cleveland-Cliffs Inc. has a 52 week low of $10.21 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 results on Monday, November 4th. The mining company reported ($0.33) earnings per share (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 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 period in the prior year, the business earned $0.54 earnings per share. As a group, equities research analysts anticipate that Cleveland-Cliffs Inc. will post -0.4 EPS for the current fiscal year.

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.