D.A. Davidson & CO. Increases Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

D.A. Davidson & CO. lifted its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 21.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,260 shares of the mining company’s stock after buying an additional 20,911 shares during the quarter. D.A. Davidson & CO.’s holdings in Cleveland-Cliffs were worth $1,102,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CLF. Pacer Advisors Inc. lifted its stake 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 purchasing an additional 3,110,651 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Cleveland-Cliffs by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,751,153 shares of the mining company’s stock worth $47,902,000 after purchasing an additional 121,389 shares during the last quarter. Hodges Capital Management Inc. lifted its position in shares of Cleveland-Cliffs by 13.4% in the fourth quarter. Hodges Capital Management Inc. now owns 3,316,786 shares of the mining company’s stock worth $31,178,000 after buying an additional 391,109 shares in the last quarter. Drexel Morgan & Co. boosted its stake in Cleveland-Cliffs by 3.8% during the third quarter. Drexel Morgan & Co. now owns 3,200,395 shares of the mining company’s stock valued at $40,869,000 after buying an additional 116,400 shares during the last quarter. Finally, Barclays PLC grew its holdings in Cleveland-Cliffs by 232.4% during the 3rd quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock valued at $39,757,000 after buying an additional 2,176,837 shares in the last quarter. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Down 5.3 %

CLF opened at $11.35 on Monday. 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’s 50 day moving average price is $10.22 and its 200-day moving average price is $11.71. Cleveland-Cliffs Inc. has a one year low of $8.99 and a one year high of $22.97. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of -11.70 and a beta of 1.96.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup lowered their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group started coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective for the company. Glj Research upgraded shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price on the stock in a report on Tuesday, January 7th. StockNews.com downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Morgan Stanley reduced their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cleveland-Cliffs currently has a consensus rating of “Hold” and an average target price of $16.68.

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.