Cleveland-Cliffs Inc. (NYSE:CLF) Shares Bought by NBC Securities Inc.

NBC Securities Inc. increased its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 62.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,118 shares of the mining company’s stock after buying an additional 22,423 shares during the quarter. NBC Securities Inc.’s holdings in Cleveland-Cliffs were worth $742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Cleveland-Cliffs by 54.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,906,597 shares of the mining company’s stock worth $244,794,000 after buying an additional 5,621,797 shares during the period. AQR Capital Management LLC increased its holdings in Cleveland-Cliffs by 49.9% in the 2nd quarter. AQR Capital Management LLC now owns 6,093,632 shares of the mining company’s stock worth $93,172,000 after buying an additional 2,027,757 shares during the period. Bank of New York Mellon Corp boosted its position in Cleveland-Cliffs by 23.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,597,662 shares of the mining company’s stock worth $86,148,000 after purchasing an additional 1,069,907 shares in the last quarter. Castle Hook Partners LP boosted its position in Cleveland-Cliffs by 13.8% in the 1st quarter. Castle Hook Partners LP now owns 3,374,716 shares of the mining company’s stock worth $76,741,000 after purchasing an additional 410,182 shares in the last quarter. Finally, Drexel Morgan & Co. boosted its position in Cleveland-Cliffs by 3.3% in the 2nd quarter. Drexel Morgan & Co. now owns 3,083,995 shares of the mining company’s stock worth $47,463,000 after purchasing an additional 97,450 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Up 1.3 %

Shares of CLF stock opened at $13.05 on Thursday. The stock’s fifty day moving average is $12.55 and its two-hundred day moving average is $15.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.60 and a current ratio of 1.87. The firm has a market capitalization of $6.20 billion, a P/E ratio of 17.64 and a beta of 1.98. Cleveland-Cliffs Inc. has a fifty-two week low of $10.21 and a fifty-two week high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, July 22nd. The mining company reported $0.11 earnings per share for the quarter. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.18 billion. Cleveland-Cliffs had a return on equity of 4.94% and a net margin of 0.21%. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. Research analysts expect that Cleveland-Cliffs Inc. will post -0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on CLF. Seaport Res Ptn upgraded Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Bank of America lowered their price objective on Cleveland-Cliffs from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Morgan Stanley lowered their price objective on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. B. Riley restated a “buy” rating and issued a $23.00 price objective on shares of Cleveland-Cliffs in a research report on Tuesday, June 25th. Finally, Citigroup decreased their target price on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cleveland-Cliffs has an average rating of “Hold” and an average price target of $17.56.

About Cleveland-Cliffs

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.