D.A. Davidson & CO. Grows Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

D.A. Davidson & CO. lifted its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 21.7% during the fourth quarter, Holdings Channel reports. 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 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CLF. Pacer Advisors Inc. grew its holdings in Cleveland-Cliffs by 13.7% in the third 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 during the last quarter. Barclays PLC boosted its position 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 purchasing an additional 2,176,837 shares in the last quarter. Stonegate Investment Group LLC acquired a new stake in shares of Cleveland-Cliffs in the 4th quarter worth $18,999,000. Rockefeller Capital Management L.P. purchased a new position in Cleveland-Cliffs during the 3rd quarter worth $22,122,000. Finally, Ninety One UK Ltd increased its position in Cleveland-Cliffs by 121.5% during the 4th quarter. Ninety One UK Ltd now owns 1,501,297 shares of the mining company’s stock valued at $14,112,000 after buying an additional 823,562 shares in the last quarter. Institutional investors own 67.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CLF. Citigroup dropped their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley dropped their target price on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Glj Research raised shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price target for the company in a report on Tuesday, January 7th. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, B. Riley restated a “buy” rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cleveland-Cliffs currently has an average rating of “Hold” and an average target price of $16.68.

Cleveland-Cliffs Price Performance

NYSE:CLF opened at $11.35 on Monday. The firm’s fifty day moving average is $10.22 and its two-hundred day moving average is $11.71. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of -11.70 and a beta of 1.96. Cleveland-Cliffs Inc. has a one year low of $8.99 and a one year high of $22.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85.

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.