De Lisle Partners LLP Acquires 15,000 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

De Lisle Partners LLP raised its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 25.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,000 shares of the mining company’s stock after purchasing an additional 15,000 shares during the period. De Lisle Partners LLP’s holdings in Cleveland-Cliffs were worth $945,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. D.A. Davidson & CO. grew its stake in shares of Cleveland-Cliffs by 19.3% in the 3rd quarter. D.A. Davidson & CO. now owns 96,349 shares of the mining company’s stock worth $1,230,000 after buying an additional 15,580 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Cleveland-Cliffs by 3.8% in the third quarter. Private Trust Co. NA now owns 40,531 shares of the mining company’s stock worth $518,000 after acquiring an additional 1,500 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Cleveland-Cliffs in the third quarter worth $34,000. Pekin Hardy Strauss Inc. bought a new position in shares of Cleveland-Cliffs during the third quarter valued at $649,000. Finally, Cerity Partners LLC raised its position in shares of Cleveland-Cliffs by 10.9% in the 3rd quarter. Cerity Partners LLC now owns 366,619 shares of the mining company’s stock worth $4,682,000 after purchasing an additional 35,995 shares during the last quarter. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CLF has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Citigroup cut their price objective on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cleveland-Cliffs has an average rating of “Hold” and an average price target of $17.56.

Cleveland-Cliffs Trading Up 0.7 %

Cleveland-Cliffs stock opened at $12.14 on Friday. Cleveland-Cliffs Inc. has a 1 year low of $10.21 and a 1 year high of $22.97. The firm’s 50 day moving average price is $12.68 and its 200-day moving average price is $13.97. 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 has a market cap of $6.00 billion, a P/E ratio of -12.52 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) 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 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 prior year, the firm posted $0.54 earnings per share. The business’s revenue was down 18.5% on a year-over-year basis. On average, equities analysts predict that Cleveland-Cliffs Inc. will post -0.4 earnings per share for the current fiscal year.

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.