Cleveland-Cliffs Inc. (NYSE:CLF) Shares Acquired by First Dallas Securities Inc.

First Dallas Securities Inc. increased its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 27.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 206,750 shares of the mining company’s stock after acquiring an additional 45,150 shares during the quarter. Cleveland-Cliffs comprises 1.1% of First Dallas Securities Inc.’s investment portfolio, making the stock its 26th biggest position. First Dallas Securities Inc.’s holdings in Cleveland-Cliffs were worth $2,640,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CLF. Altshuler Shaham Ltd acquired a new position in shares of Cleveland-Cliffs during the 2nd quarter worth approximately $26,000. Strengthening Families & Communities LLC lifted its position in Cleveland-Cliffs by 299.8% during the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after buying an additional 1,490 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Cleveland-Cliffs during the second quarter worth $31,000. Gradient Investments LLC grew its holdings in Cleveland-Cliffs by 138.8% in the 2nd quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock valued at $33,000 after buying an additional 1,249 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Cleveland-Cliffs in the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

NYSE:CLF opened at $12.29 on Tuesday. The business’s fifty day moving average price is $12.68 and its 200 day moving average price is $13.66. The firm has a market capitalization of $6.07 billion, a PE ratio of -12.66 and a beta of 1.93. Cleveland-Cliffs Inc. has a 12 month low of $10.21 and a 12 month 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.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same period in the previous year, the company posted $0.54 earnings per share. Cleveland-Cliffs’s quarterly revenue was down 18.5% on a year-over-year basis. On average, sell-side analysts anticipate that Cleveland-Cliffs Inc. will post -0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CLF shares. 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 research report on Wednesday, September 18th. The Goldman Sachs Group initiated coverage on shares of Cleveland-Cliffs in a report on Monday, December 2nd. They issued a “buy” rating and a $16.00 price objective on the stock. Seaport Res Ptn upgraded shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Citigroup lowered their price objective on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cleveland-Cliffs presently has a consensus rating of “Hold” and a consensus target price of $17.39.

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.