FNY Investment Advisers LLC Has $178,000 Stock Position in Cleveland-Cliffs Inc. (NYSE:CLF)

FNY Investment Advisers LLC lifted its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 27,841.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,000 shares of the mining company’s stock after purchasing an additional 18,932 shares during the period. FNY Investment Advisers LLC’s holdings in Cleveland-Cliffs were worth $178,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in Cleveland-Cliffs by 13.7% during the third quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock worth $330,665,000 after buying an additional 3,110,651 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cleveland-Cliffs by 54.7% in the 2nd 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 boosted its stake in Cleveland-Cliffs by 49.9% during the 2nd quarter. AQR Capital Management LLC now owns 6,093,632 shares of the mining company’s stock worth $93,172,000 after acquiring an additional 2,027,757 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cleveland-Cliffs by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,751,153 shares of the mining company’s stock valued at $47,902,000 after purchasing an additional 121,389 shares during the period. Finally, Drexel Morgan & Co. increased its stake in Cleveland-Cliffs by 3.8% in the third quarter. Drexel Morgan & Co. now owns 3,200,395 shares of the mining company’s stock valued at $40,869,000 after purchasing an additional 116,400 shares in the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

Cleveland-Cliffs Stock Performance

Shares of CLF opened at $10.22 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs Inc. has a 12 month low of $8.99 and a 12 month high of $22.97. The firm has a fifty day simple moving average of $11.04 and a 200 day simple moving average of $12.64. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of -10.54 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) earnings per share for the quarter, missing the consensus estimate 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 previous year, the business earned $0.54 EPS. Cleveland-Cliffs’s revenue was down 18.5% on a year-over-year basis. Research analysts forecast that Cleveland-Cliffs Inc. will post -0.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Morgan Stanley reduced their target price 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. Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price target for the company in a report on Tuesday, January 7th. Citigroup cut their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Finally, The Goldman Sachs Group began coverage on Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 target price for the company. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.93.

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.