MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $26.96 Million Stock Holdings in Cleveland-Cliffs Inc. $CLF

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 6.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,279,232 shares of the mining company’s stock after selling 220,412 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.66% of Cleveland-Cliffs worth $26,956,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Northern Trust Corp grew its position in shares of Cleveland-Cliffs by 24.5% in the fourth quarter. Northern Trust Corp now owns 3,960,192 shares of the mining company’s stock valued at $37,226,000 after purchasing an additional 779,099 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Cleveland-Cliffs by 77.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 29,964 shares of the mining company’s stock valued at $282,000 after buying an additional 13,048 shares in the last quarter. Captrust Financial Advisors grew its holdings in Cleveland-Cliffs by 20.1% in the 4th quarter. Captrust Financial Advisors now owns 11,988 shares of the mining company’s stock valued at $113,000 after buying an additional 2,010 shares in the last quarter. Cresset Asset Management LLC bought a new position in Cleveland-Cliffs during the 4th quarter worth $95,000. Finally, Deutsche Bank AG boosted its position in shares of Cleveland-Cliffs by 69.5% in the fourth quarter. Deutsche Bank AG now owns 3,552,516 shares of the mining company’s stock valued at $33,394,000 after acquiring an additional 1,456,236 shares during the period. 67.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CLF. KeyCorp raised shares of Cleveland-Cliffs from a “sector weight” rating to an “overweight” rating and set a $14.00 price target on the stock in a research report on Tuesday, July 22nd. Morgan Stanley lifted their price target on shares of Cleveland-Cliffs from $8.00 to $10.50 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price target on Cleveland-Cliffs from $7.50 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Wells Fargo & Company upgraded Cleveland-Cliffs to a “hold” rating in a research note on Thursday, August 14th. Finally, Glj Research downgraded Cleveland-Cliffs from a “strong-buy” rating to a “strong sell” rating and set a $3.91 target price for the company. in a research report on Wednesday, May 28th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cleveland-Cliffs presently has a consensus rating of “Hold” and a consensus target price of $10.96.

Cleveland-Cliffs Stock Performance

NYSE CLF opened at $11.40 on Friday. The firm’s 50 day simple moving average is $10.02 and its 200 day simple moving average is $8.80. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of -3.34 and a beta of 1.93. The company has a current ratio of 2.04, a quick ratio of 0.61 and a debt-to-equity ratio of 1.28. Cleveland-Cliffs Inc. has a 1 year low of $5.63 and a 1 year high of $14.34.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, July 21st. The mining company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.18. Cleveland-Cliffs had a negative net margin of 9.03% and a negative return on equity of 17.97%. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the business earned $0.11 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. As a group, research analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

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.