Stonebridge Financial Group LLC Acquires Shares of 4,724 Cleveland-Cliffs Inc. (NYSE:CLF)

Stonebridge Financial Group LLC bought a new position in Cleveland-Cliffs Inc. (NYSE:CLF) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,724 shares of the mining company’s stock, valued at approximately $44,000.

Other large investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its stake in Cleveland-Cliffs by 13.7% during the third quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock worth $330,665,000 after buying an additional 3,110,651 shares during the last quarter. Barclays PLC boosted its holdings in shares of Cleveland-Cliffs by 232.4% in the 3rd quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock worth $39,757,000 after acquiring an additional 2,176,837 shares in the last quarter. Stonegate Investment Group LLC bought a new stake in Cleveland-Cliffs during the 4th quarter worth approximately $18,999,000. Rockefeller Capital Management L.P. acquired a new stake in Cleveland-Cliffs during the 3rd quarter valued at $22,122,000. Finally, International Assets Investment Management LLC raised its position 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 valued at $156,800,000 after purchasing an additional 1,166,258 shares during the last quarter. Institutional investors own 67.68% of the company’s stock.

Analyst Ratings Changes

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

Cleveland-Cliffs Trading Up 7.9 %

NYSE CLF opened at $11.40 on Friday. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs Inc. has a 12 month low of $8.99 and a 12 month high of $22.97. The company has a market capitalization of $5.63 billion, a PE ratio of -11.75 and a beta of 1.96. The stock has a 50-day simple moving average of $10.20 and a 200 day simple moving average of $11.85.

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.