SFE Investment Counsel Grows Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

SFE Investment Counsel increased its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 14.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 868,670 shares of the mining company's stock after buying an additional 107,936 shares during the quarter. Cleveland-Cliffs comprises 2.3% of SFE Investment Counsel's investment portfolio, making the stock its 12th biggest holding. SFE Investment Counsel owned about 0.18% of Cleveland-Cliffs worth $11,093,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in Cleveland-Cliffs during the second quarter worth $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Cleveland-Cliffs during the 2nd quarter worth $31,000. Gradient Investments LLC increased its holdings in shares of Cleveland-Cliffs by 138.8% in the 2nd quarter. Gradient Investments LLC now owns 2,149 shares of the mining company's stock valued at $33,000 after purchasing an additional 1,249 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Cleveland-Cliffs by 41.7% in the first quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company's stock valued at $39,000 after purchasing an additional 500 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Cleveland-Cliffs by 247.8% during the first quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company's stock worth $43,000 after buying an additional 1,343 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company's stock.

Cleveland-Cliffs Trading Up 0.4 %

Cleveland-Cliffs stock traded up $0.05 during midday trading on Tuesday, reaching $13.72. The stock had a trading volume of 7,377,358 shares, compared to its average volume of 9,814,390. The stock's 50-day simple moving average is $12.67 and its 200 day simple moving average is $14.87. Cleveland-Cliffs Inc. has a twelve month low of $10.21 and a twelve month high of $22.97. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.60 and a current ratio of 1.87. The stock has a market capitalization of $6.52 billion, a PE ratio of 18.54 and a beta of 1.98.

Analysts Set New Price Targets

A number of brokerages have issued reports on CLF. Morgan Stanley dropped their target price 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. Citigroup decreased their target price on Cleveland-Cliffs from $18.00 to $12.50 and set a "neutral" rating on the stock in a research report on Tuesday, September 10th. Finally, Seaport Res Ptn upgraded Cleveland-Cliffs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $17.56.

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.