US Bancorp DE Reduces Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

US Bancorp DE lowered its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF – Get Rating) by 15.6% in the third quarter, Holdings Channel reports. The firm owned 39,973 shares of the mining company’s stock after selling 7,379 shares during the quarter. US Bancorp DE’s holdings in Cleveland-Cliffs were worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Natixis Advisors L.P. increased its holdings in Cleveland-Cliffs by 39.8% during the 1st quarter. Natixis Advisors L.P. now owns 43,986 shares of the mining company’s stock valued at $1,417,000 after acquiring an additional 12,531 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Cleveland-Cliffs in the first quarter worth approximately $486,000. Great West Life Assurance Co. Can boosted its position in shares of Cleveland-Cliffs by 12.7% in the first quarter. Great West Life Assurance Co. Can now owns 259,092 shares of the mining company’s stock worth $8,577,000 after acquiring an additional 29,178 shares during the last quarter. Cibc World Market Inc. lifted its position in Cleveland-Cliffs by 1.1% during the first quarter. Cibc World Market Inc. now owns 58,149 shares of the mining company’s stock valued at $1,873,000 after buying an additional 623 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in Cleveland-Cliffs by 14.5% during the first quarter. Blair William & Co. IL now owns 167,800 shares of the mining company’s stock valued at $5,405,000 after buying an additional 21,233 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Cleveland-Cliffs Stock Up 2.9 %

NYSE:CLF opened at $20.97 on Friday. The firm has a market capitalization of $10.81 billion, a price-to-earnings ratio of 4.55 and a beta of 2.12. Cleveland-Cliffs Inc. has a twelve month low of $11.82 and a twelve month high of $34.04. The stock’s 50 day moving average price is $16.75 and its two-hundred day moving average price is $16.23. The company has a quick ratio of 0.78, a current ratio of 2.33 and a debt-to-equity ratio of 0.62.

Cleveland-Cliffs (NYSE:CLF – Get Rating) last released its quarterly earnings results on Tuesday, October 25th. The mining company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.16). The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.79 billion. Cleveland-Cliffs had a net margin of 10.48% and a return on equity of 40.41%. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 earnings per share. Equities research analysts expect that Cleveland-Cliffs Inc. will post 3.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CLF. Bank of America began coverage on shares of Cleveland-Cliffs in a research report on Wednesday, January 4th. They set a “neutral” rating and a $19.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of Cleveland-Cliffs from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com assumed coverage on shares of Cleveland-Cliffs in a research report on Wednesday, October 12th. They set a “hold” rating for the company. UBS Group began coverage on shares of Cleveland-Cliffs in a report on Friday, December 16th. They issued a “neutral” rating and a $17.00 price objective for the company. Finally, Wolfe Research downgraded shares of Cleveland-Cliffs from a “peer perform” rating to an “underperform” rating and set a $12.00 price target for the company. in a report on Wednesday, November 2nd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cleveland-Cliffs has a consensus rating of “Hold” and a consensus price target of $21.47.

About Cleveland-Cliffs

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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.