Stifel Financial Corp Sells 16,301 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Stifel Financial Corp trimmed its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 14.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 97,531 shares of the mining company’s stock after selling 16,301 shares during the quarter. Stifel Financial Corp’s holdings in Cleveland-Cliffs were worth $1,245,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CLF. Altus Wealth Group LLC raised its position in shares of Cleveland-Cliffs by 7.2% in the 3rd quarter. Altus Wealth Group LLC now owns 11,900 shares of the mining company’s stock valued at $152,000 after acquiring an additional 800 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Cleveland-Cliffs by 7.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 13,066 shares of the mining company’s stock valued at $201,000 after purchasing an additional 949 shares in the last quarter. Clear Creek Financial Management LLC raised its holdings in Cleveland-Cliffs by 6.9% in the second quarter. Clear Creek Financial Management LLC now owns 15,450 shares of the mining company’s stock worth $238,000 after purchasing an additional 1,000 shares during the period. National Bank of Canada FI boosted its position in shares of Cleveland-Cliffs by 16.2% during the second quarter. National Bank of Canada FI now owns 8,428 shares of the mining company’s stock worth $129,000 after purchasing an additional 1,173 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Cleveland-Cliffs by 3.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 40,408 shares of the mining company’s stock valued at $515,000 after buying an additional 1,237 shares during the period. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CLF. The Goldman Sachs Group initiated coverage on Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective on the stock. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. StockNews.com lowered 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 $12.50 to $11.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Morgan Stanley cut their price target on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cleveland-Cliffs currently has a consensus rating of “Hold” and an average target price of $17.22.

Cleveland-Cliffs Trading Up 0.5 %

NYSE:CLF opened at $9.38 on Monday. 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 Inc. has a twelve month low of $9.13 and a twelve month high of $22.97. The company has a market cap of $4.63 billion, a P/E ratio of -9.67 and a beta of 1.92. The business has a 50 day moving average price of $12.22 and a two-hundred day moving average price of $13.27.

Cleveland-Cliffs (NYSE:CLF) last released its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same period last 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, analysts expect that Cleveland-Cliffs Inc. will post -0.45 EPS for the current fiscal year.

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.