Janus Henderson Group PLC Grows Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Janus Henderson Group PLC lifted its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 987.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,000 shares of the mining company's stock after buying an additional 187,957 shares during the quarter. Janus Henderson Group PLC's holdings in Cleveland-Cliffs were worth $2,644,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Cleveland-Cliffs by 54.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,906,597 shares of the mining company's stock worth $244,794,000 after buying an additional 5,621,797 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Cleveland-Cliffs by 13.7% during 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 in the last quarter. AQR Capital Management LLC raised its stake in Cleveland-Cliffs by 49.9% in the 2nd quarter. AQR Capital Management LLC now owns 6,093,632 shares of the mining company's stock valued at $93,172,000 after purchasing an additional 2,027,757 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in Cleveland-Cliffs in the 3rd quarter valued at $22,122,000. Finally, International Assets Investment Management LLC boosted its stake in Cleveland-Cliffs by 1,893.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,227,848 shares of the mining company's stock worth $156,800,000 after purchasing an additional 1,166,258 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company's stock.

Wall Street Analysts Forecast Growth

CLF has been the topic of a number of research reports. Citigroup decreased their target price on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a "neutral" rating on the stock in a research note on Tuesday, September 10th. Morgan Stanley cut their price objective on shares of 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. The Goldman Sachs Group initiated 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 shares of Cleveland-Cliffs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 27th. Finally, StockNews.com cut Cleveland-Cliffs from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $17.39.

Cleveland-Cliffs Trading Down 6.9 %

Shares of NYSE CLF traded down $0.81 during trading on Thursday, reaching $10.96. The stock had a trading volume of 27,817,245 shares, compared to its average volume of 10,477,907. The business's 50-day moving average price is $12.61 and its 200-day moving average price is $13.59. Cleveland-Cliffs Inc. has a fifty-two week low of $10.21 and a fifty-two week 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. The company has a market cap of $5.41 billion, a P/E ratio of -11.29 and a beta of 1.92.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last issued 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 return on equity of 0.59% and a negative net margin of 2.31%. The business had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.72 billion. During the same quarter last year, the company earned $0.54 earnings per share. The firm's revenue for the quarter was down 18.5% on a year-over-year basis. On average, equities research analysts predict that Cleveland-Cliffs Inc. will post -0.45 EPS for the current fiscal year.

Cleveland-Cliffs 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.