Cleveland-Cliffs Inc. (NYSE:CLF) Shares Acquired by First Dallas Securities Inc.

First Dallas Securities Inc. increased its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 27.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,750 shares of the mining company's stock after buying an additional 45,150 shares during the quarter. Cleveland-Cliffs comprises approximately 1.1% of First Dallas Securities Inc.'s investment portfolio, making the stock its 26th biggest holding. First Dallas Securities Inc.'s holdings in Cleveland-Cliffs were worth $2,640,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MidWestOne Financial Group Inc. increased its holdings in Cleveland-Cliffs by 19.9% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 127,669 shares of the mining company's stock worth $1,630,000 after buying an additional 21,165 shares during the period. M&T Bank Corp raised its holdings in shares of Cleveland-Cliffs by 11.4% during the third quarter. M&T Bank Corp now owns 21,574 shares of the mining company's stock worth $275,000 after purchasing an additional 2,205 shares during the last quarter. Barclays PLC boosted its holdings in Cleveland-Cliffs by 232.4% in the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company's stock valued at $39,757,000 after purchasing an additional 2,176,837 shares during the last quarter. Hodges Capital Management Inc. raised its stake in shares of Cleveland-Cliffs by 33.0% during the 3rd quarter. Hodges Capital Management Inc. now owns 2,925,677 shares of the mining company's stock valued at $37,361,000 after buying an additional 726,043 shares during the last quarter. Finally, iSAM Funds UK Ltd boosted its stake in shares of Cleveland-Cliffs by 338.8% in the third quarter. iSAM Funds UK Ltd now owns 67,256 shares of the mining company's stock worth $859,000 after buying an additional 51,929 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company's stock.

Wall Street Analyst Weigh In

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

Cleveland-Cliffs Trading Down 0.5 %

Cleveland-Cliffs stock traded down $0.06 during mid-day trading on Tuesday, hitting $12.22. The company's stock had a trading volume of 13,723,381 shares, compared to its average volume of 10,393,063. The firm has a market capitalization of $6.04 billion, a PE ratio of -12.41 and a beta of 1.93. Cleveland-Cliffs Inc. has a 1 year low of $10.21 and a 1 year high of $22.97. The stock's fifty day moving average is $12.68 and its two-hundred day moving average is $13.66. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.72 billion. During the same period last year, the firm posted $0.54 earnings per share. Cleveland-Cliffs's revenue was down 18.5% on a year-over-year basis. On average, analysts anticipate that Cleveland-Cliffs Inc. will post -0.45 EPS for the current 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.