Cleveland-Cliffs Inc. (NYSE:CLF) Shares Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP increased its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 295.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,461 shares of the mining company's stock after purchasing an additional 153,560 shares during the quarter. GSA Capital Partners LLP's holdings in Cleveland-Cliffs were worth $2,624,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Altus Wealth Group LLC grew its position in Cleveland-Cliffs by 7.2% in the 3rd quarter. Altus Wealth Group LLC now owns 11,900 shares of the mining company's stock valued at $152,000 after acquiring an additional 800 shares in the last quarter. InterOcean Capital Group LLC grew its position in Cleveland-Cliffs by 4.1% in the 1st quarter. InterOcean Capital Group LLC now owns 20,334 shares of the mining company's stock valued at $462,000 after acquiring an additional 805 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Cleveland-Cliffs by 7.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 13,066 shares of the mining company's stock valued at $201,000 after acquiring an additional 949 shares in the last quarter. Chesapeake Capital Corp IL boosted its stake in shares of Cleveland-Cliffs by 3.0% in the 1st quarter. Chesapeake Capital Corp IL now owns 33,482 shares of the mining company's stock valued at $761,000 after buying an additional 979 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Cleveland-Cliffs by 2.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 40,118 shares of the mining company's stock valued at $879,000 after buying an additional 984 shares during the period. 67.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CLF. Seaport Res Ptn upgraded Cleveland-Cliffs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 27th. Morgan Stanley decreased their price objective 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. Citigroup decreased their price objective 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. Finally, StockNews.com cut Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Cleveland-Cliffs presently has an average rating of "Hold" and an average price target of $17.56.

Cleveland-Cliffs Stock Performance

CLF traded down $0.54 during trading on Tuesday, hitting $11.99. 16,993,390 shares of the stock were exchanged, compared to its average volume of 10,257,714. The firm has a market capitalization of $5.92 billion, a P/E ratio of -12.91 and a beta of 1.97. Cleveland-Cliffs Inc. has a 1-year low of $10.21 and a 1-year high of $22.97. The stock has a fifty day moving average price of $12.62 and a two-hundred day moving average price of $14.42. The company has a quick ratio of 0.60, 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 quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.72 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The company's quarterly revenue was down 18.5% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. As a group, sell-side analysts predict that Cleveland-Cliffs Inc. will post -0.37 earnings per share 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.