Cleveland-Cliffs Inc. (NYSE:CLF) Holdings Reduced by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 34.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,568 shares of the mining company's stock after selling 45,580 shares during the period. Intech Investment Management LLC's holdings in Cleveland-Cliffs were worth $1,093,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Altshuler Shaham Ltd purchased a new stake in Cleveland-Cliffs during the 2nd quarter worth $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Cleveland-Cliffs by 247.8% in the first quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company's stock worth $43,000 after buying an additional 1,343 shares during the period. Strengthening Families & Communities LLC grew its stake in shares of Cleveland-Cliffs by 299.8% in the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company's stock valued at $25,000 after buying an additional 1,490 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Cleveland-Cliffs during the 1st quarter valued at about $45,000. Finally, Hobbs Group Advisors LLC acquired a new position in Cleveland-Cliffs during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 67.68% of the company's stock.

Cleveland-Cliffs Stock Up 0.7 %

Shares of CLF traded up $0.09 during midday trading on Thursday, hitting $12.14. The company had a trading volume of 8,632,873 shares, compared to its average volume of 10,352,482. The company's 50 day moving average price is $12.68 and its 200 day moving average price is $13.97. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of -12.52 and a beta of 1.97. Cleveland-Cliffs Inc. has a 52 week low of $10.21 and a 52 week high of $22.97. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released 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). The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. Cleveland-Cliffs's revenue for the quarter was down 18.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. On average, equities research analysts predict that Cleveland-Cliffs Inc. will post -0.4 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of Cleveland-Cliffs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 27th. StockNews.com downgraded 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 for the company in a research report on Tuesday, September 10th. Finally, Morgan Stanley lowered their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an "equal weight" rating for the company in a research note on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Cleveland-Cliffs has an average rating of "Hold" and a consensus target price 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.