KMG Fiduciary Partners LLC Buys 87,454 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

KMG Fiduciary Partners LLC lifted its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 58.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,031 shares of the mining company's stock after purchasing an additional 87,454 shares during the period. KMG Fiduciary Partners LLC's holdings in Cleveland-Cliffs were worth $2,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Strengthening Families & Communities LLC grew its position 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 purchasing an additional 1,490 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in Cleveland-Cliffs during the second quarter worth approximately $26,000. Darwin Wealth Management LLC acquired a new stake in Cleveland-Cliffs during the third quarter worth approximately $34,000. Truvestments Capital LLC bought a new position in Cleveland-Cliffs during the 3rd quarter worth $34,000. Finally, Blue Trust Inc. raised its holdings in Cleveland-Cliffs by 231.9% in the 3rd quarter. Blue Trust Inc. now owns 3,634 shares of the mining company's stock valued at $46,000 after acquiring an additional 2,539 shares in the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

Cleveland-Cliffs Trading Down 1.2 %

Cleveland-Cliffs stock traded down $0.12 during trading hours on Friday, hitting $10.30. The stock had a trading volume of 5,371,032 shares, compared to its average volume of 14,313,396. The business's 50 day simple moving average is $10.88 and its 200-day simple moving average is $12.57. Cleveland-Cliffs Inc. has a one year low of $8.99 and a one year high of $22.97. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of -10.61 and a beta of 1.97. 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 issued its quarterly earnings data 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 business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter last year, the business earned $0.54 EPS. The firm's quarterly revenue was down 18.5% compared to the same quarter last year. On average, equities analysts predict that Cleveland-Cliffs Inc. will post -0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CLF has been the topic of a number of recent analyst reports. The Goldman Sachs Group began coverage on Cleveland-Cliffs in a research report on Monday, December 2nd. They issued a "buy" rating and a $16.00 price target on the stock. StockNews.com cut shares of Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Citigroup reduced their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, December 19th. Finally, Glj Research upgraded Cleveland-Cliffs from a "sell" rating to a "buy" rating and set a $14.27 target price for the company in a research note on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $16.93.

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.