JB Capital LLC Has $961,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

JB Capital LLC increased its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 17.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,248 shares of the mining company’s stock after acquiring an additional 15,046 shares during the period. JB Capital LLC’s holdings in Cleveland-Cliffs were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in Cleveland-Cliffs by 105.6% during the 3rd quarter. Franklin Resources Inc. now owns 262,771 shares of the mining company’s stock worth $3,429,000 after purchasing an additional 134,939 shares in the last quarter. Stonegate Investment Group LLC bought a new position in shares of Cleveland-Cliffs in the 4th quarter valued at $18,999,000. Twelve Points Wealth Management LLC lifted its stake in shares of Cleveland-Cliffs by 58.5% in the 3rd quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company’s stock valued at $1,708,000 after acquiring an additional 49,359 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Cleveland-Cliffs by 987.0% during the 3rd quarter. Janus Henderson Group PLC now owns 207,000 shares of the mining company’s stock valued at $2,644,000 after acquiring an additional 187,957 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in Cleveland-Cliffs during the 3rd quarter worth $22,122,000. 67.68% of the stock is owned by institutional investors.

Cleveland-Cliffs Stock Down 2.2 %

Shares of NYSE:CLF opened at $10.26 on Monday. Cleveland-Cliffs Inc. has a 1 year low of $8.99 and a 1 year high of $22.97. 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 business’s 50-day moving average is $10.50 and its 200-day moving average is $12.09.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $4.72 billion. During the same period last year, the business earned $0.54 EPS. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. On average, research analysts anticipate that Cleveland-Cliffs Inc. will post -0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.