Jump Financial LLC lifted its holdings in Cleveland-Cliffs Inc. (NYSE:CLF – Free Report) by 44.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,476 shares of the mining company’s stock after purchasing an additional 6,916 shares during the quarter. Jump Financial LLC’s holdings in Cleveland-Cliffs were worth $412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Zullo Investment Group Inc. lifted its stake in Cleveland-Cliffs by 11.1% during the 4th quarter. Zullo Investment Group Inc. now owns 5,000 shares of the mining company’s stock valued at $81,000 after acquiring an additional 500 shares during the period. Cedar Brook Financial Partners LLC grew its position in Cleveland-Cliffs by 4.4% in the 4th quarter. Cedar Brook Financial Partners LLC now owns 12,314 shares of the mining company’s stock worth $198,000 after purchasing an additional 514 shares during the period. First Eagle Investment Management LLC raised its stake in Cleveland-Cliffs by 27.7% during the 4th quarter. First Eagle Investment Management LLC now owns 2,444 shares of the mining company’s stock valued at $39,000 after buying an additional 530 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Cleveland-Cliffs by 17.5% during the 4th quarter. Quadrant Capital Group LLC now owns 3,612 shares of the mining company’s stock valued at $58,000 after buying an additional 537 shares during the period. Finally, Stonebridge Capital Advisors LLC boosted its stake in shares of Cleveland-Cliffs by 20.0% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 3,600 shares of the mining company’s stock worth $58,000 after buying an additional 600 shares during the last quarter. 62.92% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
CLF has been the topic of several research reports. B. Riley dropped their target price on Cleveland-Cliffs from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, August 1st. StockNews.com raised shares of Cleveland-Cliffs from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, JPMorgan Chase & Co. started coverage on shares of Cleveland-Cliffs in a report on Tuesday, May 23rd. They set a “neutral” rating and a $18.00 target price for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.53.
Cleveland-Cliffs Price Performance
Shares of Cleveland-Cliffs stock opened at $16.27 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 2.10 and a debt-to-equity ratio of 0.49. Cleveland-Cliffs Inc. has a 52 week low of $11.82 and a 52 week high of $22.83. The stock’s 50-day simple moving average is $16.37 and its 200-day simple moving average is $17.50. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 36.98 and a beta of 2.20.
Cleveland-Cliffs (NYSE:CLF – Get Free Report) last posted its quarterly earnings results on Monday, July 24th. The mining company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The business had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.80 billion. Cleveland-Cliffs had a return on equity of 3.77% and a net margin of 1.04%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.31 earnings per share. As a group, analysts expect that Cleveland-Cliffs Inc. will post 1.47 earnings per share for the current fiscal 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.
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