Community Bank of Raymore Raises Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

Community Bank of Raymore increased its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 9.6% during the fourth quarter, Holdings Channel reports. The fund owned 35,265 shares of the mining company’s stock after acquiring an additional 3,090 shares during the quarter. Community Bank of Raymore’s holdings in Cleveland-Cliffs were worth $331,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in shares of Cleveland-Cliffs by 10.3% during the 2nd quarter. American Century Companies Inc. now owns 900,670 shares of the mining company’s stock valued at $13,861,000 after acquiring an additional 84,191 shares during the last quarter. Intech Investment Management LLC increased its position in Cleveland-Cliffs by 815.7% during the second quarter. Intech Investment Management LLC now owns 131,148 shares of the mining company’s stock worth $2,018,000 after purchasing an additional 116,826 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Cleveland-Cliffs by 7.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 13,066 shares of the mining company’s stock worth $201,000 after purchasing an additional 949 shares during the period. EverSource Wealth Advisors LLC raised its stake in Cleveland-Cliffs by 144.5% during the second quarter. EverSource Wealth Advisors LLC now owns 4,608 shares of the mining company’s stock worth $71,000 after purchasing an additional 2,723 shares during the period. Finally, Altshuler Shaham Ltd acquired a new position in shares of Cleveland-Cliffs in the 2nd quarter valued at $26,000. 67.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. The Goldman Sachs Group initiated coverage on Cleveland-Cliffs in a research report on Monday, December 2nd. They issued a “buy” rating and a $16.00 target price on the stock. StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Citigroup decreased their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Finally, Glj Research raised shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, five 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, the company has an average rating of “Hold” and an average target price of $16.93.

Cleveland-Cliffs Price Performance

CLF opened at $10.28 on Monday. Cleveland-Cliffs Inc. has a twelve month low of $8.99 and a twelve month high of $22.97. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of -10.59 and a beta of 1.97. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $10.83 and a 200 day simple moving average of $12.49.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The firm’s revenue was down 18.5% on a year-over-year basis. Equities research analysts expect that Cleveland-Cliffs Inc. will post -0.67 EPS 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.