Neville Rodie & Shaw Inc. Has $135,000 Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

Neville Rodie & Shaw Inc. trimmed its holdings in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 83.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,370 shares of the mining company's stock after selling 70,625 shares during the period. Neville Rodie & Shaw Inc.'s holdings in Cleveland-Cliffs were worth $135,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. CIBC Asset Management Inc grew its holdings in Cleveland-Cliffs by 34.1% during the second quarter. CIBC Asset Management Inc now owns 18,711 shares of the mining company's stock valued at $288,000 after purchasing an additional 4,753 shares during the last quarter. National Bank of Canada FI raised its holdings in Cleveland-Cliffs by 16.2% in the 2nd quarter. National Bank of Canada FI now owns 8,428 shares of the mining company's stock worth $129,000 after acquiring an additional 1,173 shares during the period. Victory Capital Management Inc. raised its holdings in Cleveland-Cliffs by 21.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,429,738 shares of the mining company's stock worth $37,394,000 after acquiring an additional 428,239 shares during the period. Acadian Asset Management LLC acquired a new position in Cleveland-Cliffs during the 2nd quarter worth $208,000. Finally, Quest Partners LLC grew its position in shares of Cleveland-Cliffs by 49,318.8% in the second quarter. Quest Partners LLC now owns 23,721 shares of the mining company's stock valued at $365,000 after purchasing an additional 23,673 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company's stock.

Cleveland-Cliffs Price Performance

NYSE:CLF traded up $0.14 during mid-day trading on Tuesday, hitting $10.04. The company's stock had a trading volume of 19,511,012 shares, compared to its average volume of 17,145,980. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of -10.35 and a beta of 1.97. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs Inc. has a fifty-two week low of $8.99 and a fifty-two week high of $22.97. The stock has a fifty day moving average of $11.37 and a 200-day moving average of $12.81.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last issued its 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 company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The company's quarterly revenue was down 18.5% on a year-over-year basis. As a group, equities analysts forecast that Cleveland-Cliffs Inc. will post -0.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CLF has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on Cleveland-Cliffs in a research report on Monday, December 2nd. They set a "buy" rating and a $16.00 price objective for the company. Citigroup cut their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating for the company in a report on Thursday, December 19th. StockNews.com downgraded shares of Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Morgan Stanley reduced their price target on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an "equal weight" rating for the company in a report on Wednesday, September 18th. Finally, Glj Research upgraded shares of Cleveland-Cliffs from a "sell" rating to a "buy" rating and set a $14.27 price objective on the stock in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.