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

SFE Investment Counsel decreased its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 3.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 836,254 shares of the mining company's stock after selling 32,416 shares during the period. Cleveland-Cliffs makes up approximately 1.7% of SFE Investment Counsel's investment portfolio, making the stock its 19th largest holding. SFE Investment Counsel owned 0.17% of Cleveland-Cliffs worth $7,861,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. raised its position in Cleveland-Cliffs by 13.7% during the 3rd quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company's stock worth $330,665,000 after buying an additional 3,110,651 shares during the last quarter. Barclays PLC raised its holdings in shares of Cleveland-Cliffs by 232.4% during the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company's stock worth $39,757,000 after purchasing an additional 2,176,837 shares during the last quarter. Stonegate Investment Group LLC acquired a new position in Cleveland-Cliffs during the fourth quarter valued at $18,999,000. Rockefeller Capital Management L.P. purchased a new stake in Cleveland-Cliffs in the third quarter valued at $22,122,000. Finally, International Assets Investment Management LLC raised its stake in shares of Cleveland-Cliffs by 1,893.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,227,848 shares of the mining company's stock valued at $156,800,000 after buying an additional 1,166,258 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company's stock.

Cleveland-Cliffs Price Performance

CLF stock traded up $0.10 during midday trading on Monday, reaching $11.49. The stock had a trading volume of 14,740,169 shares, compared to its average volume of 11,458,728. Cleveland-Cliffs Inc. has a 52-week low of $8.99 and a 52-week high of $22.97. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The company's fifty day simple moving average is $10.19 and its 200 day simple moving average is $11.78. The company has a market cap of $5.67 billion, a price-to-earnings ratio of -11.84 and a beta of 1.96.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CLF. StockNews.com downgraded Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Morgan Stanley lowered their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Citigroup cut their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating for the company in a report on Thursday, December 19th. Glj Research upgraded shares of Cleveland-Cliffs from a "sell" rating to a "buy" rating and set a $14.27 price target on the stock in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group initiated coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They issued a "buy" rating and a $16.00 price objective for the company. Three analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $16.68.

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.