Cerity Partners LLC Has $4.68 Million Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Cerity Partners LLC increased its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 10.9% during the third quarter, Holdings Channel reports. The firm owned 366,619 shares of the mining company’s stock after buying an additional 35,995 shares during the quarter. Cerity Partners LLC’s holdings in Cleveland-Cliffs were worth $4,682,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of CLF. Altshuler Shaham Ltd bought a new stake in Cleveland-Cliffs in the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Cleveland-Cliffs by 247.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock worth $43,000 after acquiring an additional 1,343 shares during the last quarter. Strengthening Families & Communities LLC raised its stake in Cleveland-Cliffs by 299.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after acquiring an additional 1,490 shares during the period. LRI Investments LLC acquired a new stake in Cleveland-Cliffs during the 1st quarter valued at $45,000. Finally, Hobbs Group Advisors LLC bought a new position in Cleveland-Cliffs during the second quarter worth $31,000. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Price Performance

Cleveland-Cliffs stock opened at $12.14 on Friday. The firm has a market cap of $6.00 billion, a PE ratio of -12.52 and a beta of 1.97. 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’s fifty day moving average price is $12.68 and its two-hundred day moving average price is $13.97. Cleveland-Cliffs Inc. has a one year low of $10.21 and a one year high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The firm’s revenue for the quarter was down 18.5% on a year-over-year basis. As a group, research analysts expect that Cleveland-Cliffs Inc. will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup dropped their price objective on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. StockNews.com downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Morgan Stanley decreased their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Finally, Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cleveland-Cliffs has a consensus rating of “Hold” and an average target price of $17.56.

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.