1,732,357 Shares in Cleveland-Cliffs Inc. (NYSE:CLF) Acquired by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. purchased a new stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,732,357 shares of the mining company's stock, valued at approximately $22,122,000. Rockefeller Capital Management L.P. owned approximately 0.35% of Cleveland-Cliffs as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Strengthening Families & Communities LLC boosted its position in shares of Cleveland-Cliffs by 299.8% in the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company's stock worth $25,000 after buying an additional 1,490 shares during the period. Altshuler Shaham Ltd purchased a new position in Cleveland-Cliffs in the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in Cleveland-Cliffs in the second quarter valued at approximately $31,000. Gradient Investments LLC grew its position in Cleveland-Cliffs by 138.8% in 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 in the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Cleveland-Cliffs during the third quarter valued at approximately $34,000. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CLF has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Cleveland-Cliffs from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Citigroup cut their price target on Cleveland-Cliffs from $18.00 to $12.50 and set a "neutral" rating on the stock in a research note on Tuesday, September 10th. 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, Morgan Stanley decreased their price target on Cleveland-Cliffs from $15.00 to $13.50 and set an "equal weight" rating for the company in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $17.56.

Cleveland-Cliffs Stock Performance

Shares of Cleveland-Cliffs stock traded up $0.31 during trading on Friday, hitting $12.45. 6,853,153 shares of the stock were exchanged, compared to its average volume of 15,393,981. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. Cleveland-Cliffs Inc. has a 12 month low of $10.21 and a 12 month high of $22.97. The stock's fifty day moving average is $12.69 and its 200 day moving average is $13.90. The stock has a market cap of $6.15 billion, a PE ratio of -12.84 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. Cleveland-Cliffs's revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. As a group, sell-side analysts anticipate that Cleveland-Cliffs Inc. will post -0.45 EPS for the current year.

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.