National Bank of Canada FI Has $3.37 Million Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

National Bank of Canada FI grew its holdings in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 3,033.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 264,081 shares of the mining company's stock after buying an additional 255,653 shares during the period. National Bank of Canada FI owned 0.05% of Cleveland-Cliffs worth $3,372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CLF. Altus Wealth Group LLC increased its position in shares of Cleveland-Cliffs by 7.2% during the third quarter. Altus Wealth Group LLC now owns 11,900 shares of the mining company's stock worth $152,000 after acquiring an additional 800 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Cleveland-Cliffs by 7.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 13,066 shares of the mining company's stock valued at $201,000 after buying an additional 949 shares in the last quarter. Clear Creek Financial Management LLC lifted its position in shares of Cleveland-Cliffs by 6.9% during the 2nd quarter. Clear Creek Financial Management LLC now owns 15,450 shares of the mining company's stock valued at $238,000 after acquiring an additional 1,000 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Cleveland-Cliffs by 3.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 40,408 shares of the mining company's stock valued at $515,000 after acquiring an additional 1,237 shares during the last quarter. Finally, Gradient Investments LLC boosted its stake in shares of Cleveland-Cliffs by 138.8% during the second quarter. Gradient Investments LLC now owns 2,149 shares of the mining company's stock valued at $33,000 after acquiring an additional 1,249 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company's stock.

Cleveland-Cliffs Trading Down 6.8 %

Shares of Cleveland-Cliffs stock traded down $0.75 during trading hours on Friday, hitting $10.21. The company's stock had a trading volume of 25,976,738 shares, compared to its average volume of 10,541,936. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. Cleveland-Cliffs Inc. has a 12 month low of $10.18 and a 12 month high of $22.97. The stock has a 50 day moving average of $12.55 and a 200 day moving average of $13.55. The company has a market capitalization of $5.04 billion, a PE ratio of -10.53 and a beta of 1.92.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (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 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%. The business's revenue was down 18.5% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. Analysts predict that Cleveland-Cliffs Inc. will post -0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. StockNews.com cut Cleveland-Cliffs from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Morgan Stanley cut their price objective on Cleveland-Cliffs from $15.00 to $13.50 and set an "equal weight" rating on the stock in a research note on Wednesday, September 18th. Seaport Res Ptn upgraded Cleveland-Cliffs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 27th. Citigroup reduced their price objective on 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, The Goldman Sachs Group initiated coverage on Cleveland-Cliffs in a report on Monday, December 2nd. They set a "buy" rating and a $16.00 target price on the stock. Three investment 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $17.39.

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.