Cwm LLC increased its holdings in Cleveland-Cliffs Inc. (NYSE:CLF – Get Rating) by 53.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,083 shares of the mining company’s stock after acquiring an additional 3,151 shares during the period. Cwm LLC’s holdings in Cleveland-Cliffs were worth $122,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in CLF. Ronald Blue Trust Inc. acquired a new stake in shares of Cleveland-Cliffs in the 2nd quarter worth about $32,000. Gradient Investments LLC raised its holdings in shares of Cleveland-Cliffs by 55.6% in the 2nd quarter. Gradient Investments LLC now owns 2,179 shares of the mining company’s stock worth $33,000 after acquiring an additional 779 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Cleveland-Cliffs by 218.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,088 shares of the mining company’s stock worth $35,000 after acquiring an additional 746 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of Cleveland-Cliffs in the 2nd quarter worth about $42,000. Finally, Founders Capital Management raised its holdings in shares of Cleveland-Cliffs by 30.4% in the 2nd quarter. Founders Capital Management now owns 3,000 shares of the mining company’s stock worth $46,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Cleveland-Cliffs from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, October 6th. Credit Suisse Group reduced their price objective on shares of Cleveland-Cliffs from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, September 21st. StockNews.com assumed coverage on shares of Cleveland-Cliffs in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Bank of America assumed coverage on shares of Cleveland-Cliffs in a research report on Wednesday, January 4th. They issued a “neutral” rating and a $19.00 price objective for the company. Finally, Morgan Stanley raised shares of Cleveland-Cliffs from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $13.60 to $26.00 in a research report on Wednesday, January 11th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.13.
Cleveland-Cliffs Stock Up 0.1 %
Cleveland-Cliffs (NYSE:CLF – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The mining company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.16). The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.79 billion. Cleveland-Cliffs had a return on equity of 40.41% and a net margin of 10.48%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the business posted $2.33 earnings per share. As a group, equities analysts predict that Cleveland-Cliffs Inc. will post 3.04 EPS for the current 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.
- Get a free copy of the StockNews.com research report on Cleveland-Cliffs (CLF)
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