Janus Henderson Group PLC Acquires 187,957 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Janus Henderson Group PLC lifted its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 987.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 207,000 shares of the mining company’s stock after purchasing an additional 187,957 shares during the period. Janus Henderson Group PLC’s holdings in Cleveland-Cliffs were worth $2,644,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CLF. Dimensional Fund Advisors LP grew its holdings in shares of Cleveland-Cliffs by 54.7% during 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 purchasing an additional 5,621,797 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Cleveland-Cliffs by 13.7% in the 3rd quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock worth $330,665,000 after acquiring an additional 3,110,651 shares during the last quarter. AQR Capital Management LLC grew its holdings in Cleveland-Cliffs by 49.9% in 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. Rockefeller Capital Management L.P. bought a new stake in Cleveland-Cliffs in the 3rd quarter worth $22,122,000. Finally, International Assets Investment Management LLC grew its holdings in Cleveland-Cliffs by 1,893.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,227,848 shares of the mining company’s stock worth $156,800,000 after acquiring an additional 1,166,258 shares during the last quarter. Institutional investors own 67.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 target price on the stock. Seaport Res Ptn raised shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Citigroup cut their target price on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 10th. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley lowered their price target on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cleveland-Cliffs currently has a consensus rating of “Hold” and a consensus target price of $17.39.

Cleveland-Cliffs Stock Down 3.7 %

Shares of Cleveland-Cliffs stock opened at $11.77 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. The stock has a market capitalization of $5.81 billion, a PE ratio of -12.13 and a beta of 1.93. Cleveland-Cliffs Inc. has a 52-week low of $10.21 and a 52-week high of $22.97. The company has a 50-day simple moving average of $12.64 and a two-hundred day simple moving average of $13.61.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period last year, the firm posted $0.54 earnings per share. On average, analysts anticipate that Cleveland-Cliffs Inc. will post -0.45 EPS 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.