Clear Harbor Asset Management LLC Has $133,000 Stock Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Clear Harbor Asset Management LLC cut its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 9.6% in the fourth quarter, HoldingsChannel reports. The fund owned 14,150 shares of the mining company’s stock after selling 1,500 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Cleveland-Cliffs were worth $133,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Strengthening Families & Communities LLC boosted its holdings in shares of 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 purchasing an additional 1,490 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Cleveland-Cliffs during the 3rd quarter valued at $34,000. Truvestments Capital LLC purchased a new position in shares of Cleveland-Cliffs during the 3rd quarter valued at $34,000. Blue Trust Inc. increased its stake in shares of Cleveland-Cliffs by 231.9% in the third quarter. Blue Trust Inc. now owns 3,634 shares of the mining company’s stock worth $46,000 after acquiring an additional 2,539 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Cleveland-Cliffs by 1,190.6% during the fourth quarter. GAMMA Investing LLC now owns 5,330 shares of the mining company’s stock worth $50,000 after acquiring an additional 4,917 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Down 3.6 %

CLF stock opened at $9.72 on Thursday. 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 company has a 50-day moving average of $10.70 and a two-hundred day moving average of $12.39. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of -10.02 and a beta of 1.97. Cleveland-Cliffs Inc. has a 52-week low of $8.99 and a 52-week high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last released its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (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 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. As a group, equities research analysts anticipate that Cleveland-Cliffs Inc. will post -0.67 EPS for the current year.

Analyst Ratings Changes

CLF has been the topic of several research reports. StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Glj Research raised shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective on the stock in a research report on Tuesday, January 7th. Citigroup decreased their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group initiated coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 price target on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.93.

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.