Barclays PLC Raises Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Barclays PLC raised its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 232.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,113,337 shares of the mining company's stock after purchasing an additional 2,176,837 shares during the quarter. Barclays PLC owned 0.63% of Cleveland-Cliffs worth $39,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CLF. Strengthening Families & Communities LLC lifted its holdings in shares of Cleveland-Cliffs by 299.8% during the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company's stock worth $25,000 after acquiring an additional 1,490 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in Cleveland-Cliffs during the second quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Cleveland-Cliffs in the 2nd quarter worth about $31,000. Gradient Investments LLC increased its position in shares of Cleveland-Cliffs by 138.8% during the 2nd quarter. Gradient Investments LLC now owns 2,149 shares of the mining company's stock valued at $33,000 after purchasing an additional 1,249 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in shares of Cleveland-Cliffs during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 67.68% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CLF. Citigroup cut their target price on Cleveland-Cliffs from $18.00 to $12.50 and set a "neutral" rating for the company in a research note on Tuesday, September 10th. StockNews.com lowered shares of Cleveland-Cliffs from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. The Goldman Sachs Group started coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They issued a "buy" rating and a $16.00 price target for the company. Seaport Res Ptn raised Cleveland-Cliffs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 27th. Finally, Morgan Stanley decreased their price objective on Cleveland-Cliffs from $15.00 to $13.50 and set an "equal weight" rating on the stock in a report on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $17.39.

Cleveland-Cliffs Trading Down 6.9 %

CLF traded down $0.76 during midday trading on Friday, reaching $10.21. 25,938,497 shares of the company's stock traded hands, compared to its average volume of 10,541,936. Cleveland-Cliffs Inc. has a 52 week low of $10.18 and a 52 week high of $22.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The firm has a fifty day moving average of $12.55 and a two-hundred day moving average of $13.55. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of -10.52 and a beta of 1.92.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last announced its earnings results on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.02). The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. Cleveland-Cliffs's revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. On average, equities analysts anticipate that Cleveland-Cliffs Inc. will post -0.45 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.