UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 43.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,056,482 shares of the mining company's stock after selling 816,546 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.21% of Cleveland-Cliffs worth $13,491,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CLF. Altus Wealth Group LLC increased its position in shares of Cleveland-Cliffs by 7.2% during the third quarter. Altus Wealth Group LLC now owns 11,900 shares of the mining company's stock valued at $152,000 after acquiring an additional 800 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Cleveland-Cliffs by 7.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 13,066 shares of the mining company's stock valued at $201,000 after purchasing an additional 949 shares during the last quarter. Clear Creek Financial Management LLC increased its position in shares of Cleveland-Cliffs by 6.9% during the 2nd quarter. Clear Creek Financial Management LLC now owns 15,450 shares of the mining company's stock valued at $238,000 after purchasing an additional 1,000 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Cleveland-Cliffs by 16.2% during the 2nd quarter. National Bank of Canada FI now owns 8,428 shares of the mining company's stock worth $129,000 after purchasing an additional 1,173 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in Cleveland-Cliffs by 3.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 40,408 shares of the mining company's stock worth $515,000 after acquiring an additional 1,237 shares during the period. Institutional investors own 67.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CLF shares. Citigroup decreased their target price on Cleveland-Cliffs from $18.00 to $12.50 and set a "neutral" rating for the company in a research report on Tuesday, September 10th. Seaport Res Ptn upgraded Cleveland-Cliffs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 27th. The Goldman Sachs Group assumed coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They set a "buy" rating and a $16.00 target price for the company. StockNews.com downgraded shares of Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Finally, Morgan Stanley dropped their price target on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an "equal weight" rating on the stock in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $17.39.

Cleveland-Cliffs Price Performance

Shares of CLF traded down $0.22 during mid-day trading on Friday, reaching $11.84. 10,554,474 shares of the stock traded hands, compared to its average volume of 12,379,779. The company has a market cap of $5.85 billion, a price-to-earnings ratio of -12.21 and a beta of 1.92. Cleveland-Cliffs Inc. has a 1 year low of $10.21 and a 1 year high of $22.97. The firm has a fifty day moving average price of $12.69 and a 200 day moving average price of $13.72. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its 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). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.72 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. Cleveland-Cliffs's quarterly revenue was down 18.5% compared to the same quarter last year. As a group, equities research analysts predict that Cleveland-Cliffs Inc. will post -0.45 earnings per share for the current year.

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.