Strategic Financial Concepts LLC Takes $442,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

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

Several other hedge funds and other institutional investors have also made changes to their positions in CLF. Strengthening Families & Communities LLC boosted its position in shares of Cleveland-Cliffs by 299.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company's stock worth $25,000 after purchasing an additional 1,490 shares during the last quarter. Darwin Wealth Management LLC bought a new position in shares of Cleveland-Cliffs in the 3rd quarter worth $34,000. Truvestments Capital LLC bought a new position in shares of Cleveland-Cliffs in the 3rd quarter worth $34,000. Blue Trust Inc. boosted its position in shares of Cleveland-Cliffs by 231.9% in the 3rd quarter. Blue Trust Inc. now owns 3,634 shares of the mining company's stock worth $46,000 after purchasing an additional 2,539 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Cleveland-Cliffs by 1,190.6% in the 4th quarter. GAMMA Investing LLC now owns 5,330 shares of the mining company's stock worth $50,000 after purchasing an additional 4,917 shares during the last quarter. 67.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on CLF. The Goldman Sachs Group initiated coverage on Cleveland-Cliffs in a research report on Monday, December 2nd. They issued a "buy" rating and a $16.00 price target on the stock. Glj Research raised Cleveland-Cliffs from a "sell" rating to a "buy" rating and set a $14.27 price objective on the stock in a research note on Tuesday, January 7th. Morgan Stanley dropped their price objective on 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 dropped their price objective on 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, StockNews.com downgraded Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Three investment 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 company. Based on data from MarketBeat, Cleveland-Cliffs currently has a consensus rating of "Hold" and a consensus target price of $16.68.

Cleveland-Cliffs Stock Up 0.9 %

Shares of CLF traded up $0.10 during midday trading on Friday, hitting $11.49. The stock had a trading volume of 14,740,169 shares, compared to its average volume of 11,458,728. The company has a 50 day simple moving average of $10.19 and a two-hundred day simple moving average of $11.78. Cleveland-Cliffs Inc. has a twelve month low of $8.99 and a twelve month high of $22.97. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of -11.84 and a beta of 1.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55.

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.