Strategic Financial Concepts LLC Purchases New Shares in Cleveland-Cliffs Inc. (NYSE:CLF)

Strategic Financial Concepts LLC acquired a new stake in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 47,000 shares of the mining company's stock, valued at approximately $442,000.

Other large investors also recently modified their holdings of the company. Pacer Advisors Inc. raised its stake in Cleveland-Cliffs by 13.7% in the third quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company's stock valued at $330,665,000 after purchasing an additional 3,110,651 shares in the last quarter. Barclays PLC raised its stake in Cleveland-Cliffs by 232.4% in the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company's stock valued at $39,757,000 after purchasing an additional 2,176,837 shares in the last quarter. Stonegate Investment Group LLC purchased a new stake in Cleveland-Cliffs in the fourth quarter valued at approximately $18,999,000. Rockefeller Capital Management L.P. purchased a new stake in Cleveland-Cliffs in the third quarter valued at approximately $22,122,000. Finally, International Assets Investment Management LLC raised its stake in Cleveland-Cliffs by 1,893.6% in the third quarter. International Assets Investment Management LLC now owns 1,227,848 shares of the mining company's stock valued at $156,800,000 after purchasing an additional 1,166,258 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CLF. Glj Research raised 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 note on Tuesday, January 7th. 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 decreased their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Citigroup decreased their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group began coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They set a "buy" rating and a $16.00 price target on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cleveland-Cliffs presently has a consensus rating of "Hold" and a consensus target price of $16.68.

Cleveland-Cliffs Trading Down 5.3 %

Shares of NYSE CLF traded down $0.64 during mid-day trading on Friday, hitting $11.35. The stock had a trading volume of 13,195,951 shares, compared to its average volume of 16,055,815. 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 1 year low of $8.99 and a 1 year high of $22.97. The business has a 50 day moving average price of $10.19 and a two-hundred day moving average price of $11.74. The firm has a market cap of $5.60 billion, a P/E ratio of -11.70 and a beta of 1.96.

Cleveland-Cliffs 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.