Vontobel Holding Ltd. Purchases 27,127 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Vontobel Holding Ltd. increased its stake in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 109.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 52,019 shares of the mining company's stock after buying an additional 27,127 shares during the quarter. Vontobel Holding Ltd.'s holdings in Cleveland-Cliffs were worth $489,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strengthening Families & Communities LLC boosted its holdings 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 buying an additional 1,490 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Cleveland-Cliffs in the 3rd quarter valued at about $34,000. Truvestments Capital LLC bought a new stake in Cleveland-Cliffs in the 3rd quarter valued at about $34,000. Byrne Asset Management LLC raised its stake in Cleveland-Cliffs by 130.0% in the 4th quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company's stock valued at $43,000 after acquiring an additional 2,600 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in Cleveland-Cliffs in the 4th quarter valued at about $44,000. 67.68% of the stock is owned by hedge funds and other institutional investors.

Cleveland-Cliffs Trading Down 5.3 %

Shares of Cleveland-Cliffs stock traded down $0.64 during midday trading on Friday, reaching $11.35. 13,195,951 shares of the company's stock traded hands, 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. The company has a market cap of $5.60 billion, a PE ratio of -11.70 and a beta of 1.96. The stock has a 50 day moving average of $10.19 and a 200-day moving average of $11.74. Cleveland-Cliffs Inc. has a 12 month low of $8.99 and a 12 month high of $22.97.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CLF. Citigroup decreased their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, December 19th. StockNews.com cut Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Morgan Stanley decreased their price objective on shares of 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. 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 on the stock. Finally, Glj Research upgraded shares of Cleveland-Cliffs from a "sell" rating to a "buy" rating and set a $14.27 price objective on the stock in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cleveland-Cliffs currently has an average rating of "Hold" and an average price target 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.