Benjamin F. Edwards & Company Inc. grew its holdings in Cleveland-Cliffs Inc. (NYSE:CLF – Get Rating) by 36.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,342 shares of the mining company’s stock after purchasing an additional 4,079 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Cleveland-Cliffs were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Ronald Blue Trust Inc. acquired a new position in shares of Cleveland-Cliffs in the 2nd quarter valued at $32,000. Lazard Asset Management LLC lifted its stake in shares of Cleveland-Cliffs by 218.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,088 shares of the mining company’s stock valued at $35,000 after purchasing an additional 746 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new position in shares of Cleveland-Cliffs in the 1st quarter valued at $64,000. Gradient Investments LLC lifted its stake in shares of Cleveland-Cliffs by 55.6% in the 2nd quarter. Gradient Investments LLC now owns 2,179 shares of the mining company’s stock valued at $33,000 after purchasing an additional 779 shares during the last quarter. Finally, Zions Bancorporation N.A. acquired a new position in shares of Cleveland-Cliffs in the 1st quarter valued at $78,000. Institutional investors and hedge funds own 65.25% of the company’s stock.
Analyst Ratings Changes
CLF has been the topic of several recent analyst reports. Exane BNP Paribas lowered Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $14.30 price target on the stock. in a research note on Tuesday, October 18th. The Goldman Sachs Group decreased their target price on Cleveland-Cliffs from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, October 6th. Wolfe Research lowered Cleveland-Cliffs from a “peer perform” rating to an “underperform” rating and set a $12.00 target price on the stock. in a research note on Wednesday, November 2nd. Morgan Stanley raised Cleveland-Cliffs from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $13.60 to $26.00 in a research note on Wednesday. Finally, BNP Paribas lowered Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $14.30 target price on the stock. in a research note on Tuesday, October 18th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.13.
Cleveland-Cliffs Trading Up 0.1 %
Cleveland-Cliffs (NYSE:CLF – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The mining company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.16). Cleveland-Cliffs had a net margin of 10.48% and a return on equity of 40.41%. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.79 billion. During the same quarter in the previous year, the company posted $2.33 EPS. The company’s revenue was down 5.8% compared to the same quarter last year. As a group, equities research analysts expect that Cleveland-Cliffs Inc. will post 2.98 EPS for the current fiscal year.
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.
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