Weil Company Inc. Sells 51,147 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Weil Company Inc. lessened its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 43.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,541 shares of the mining company's stock after selling 51,147 shares during the quarter. Weil Company Inc.'s holdings in Cleveland-Cliffs were worth $850,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CLF. Altshuler Shaham Ltd bought a new stake in Cleveland-Cliffs during the 2nd quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Cleveland-Cliffs during the 2nd quarter valued at approximately $31,000. Gradient Investments LLC raised its stake in Cleveland-Cliffs by 138.8% during the 2nd quarter. Gradient Investments LLC now owns 2,149 shares of the mining company's stock valued at $33,000 after purchasing an additional 1,249 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Cleveland-Cliffs by 247.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company's stock valued at $43,000 after buying an additional 1,343 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Cleveland-Cliffs during the 1st quarter valued at approximately $45,000. Institutional investors own 67.68% of the company's stock.

Cleveland-Cliffs Trading Down 2.7 %

Shares of Cleveland-Cliffs stock traded down $0.35 on Monday, reaching $12.52. The company had a trading volume of 14,148,670 shares, compared to its average volume of 10,227,243. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.60. The firm's 50-day moving average price is $12.63 and its two-hundred day moving average price is $14.46. Cleveland-Cliffs Inc. has a 1 year low of $10.21 and a 1 year high of $22.97.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $4.72 billion. During the same period in the prior year, the business posted $0.54 earnings per share. Cleveland-Cliffs's revenue was down 18.5% on a year-over-year basis. On average, research analysts anticipate that Cleveland-Cliffs Inc. will post -0.37 earnings per share for the current year.

Analysts Set New Price Targets

CLF has been the subject of several research analyst reports. Citigroup cut their price target on Cleveland-Cliffs from $18.00 to $12.50 and set a "neutral" rating for the company in a report on Tuesday, September 10th. Morgan Stanley cut their price target on Cleveland-Cliffs from $15.00 to $13.50 and set an "equal weight" rating for the company in a report on Wednesday, September 18th. StockNews.com cut Cleveland-Cliffs from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Seaport Res Ptn upgraded Cleveland-Cliffs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 27th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $17.56.

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.