Sequoia Financial Advisors LLC Has $250,000 Position in Cleveland-Cliffs Inc. $CLF

Sequoia Financial Advisors LLC reduced its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 7.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,932 shares of the mining company’s stock after selling 2,769 shares during the period. Sequoia Financial Advisors LLC’s holdings in Cleveland-Cliffs were worth $250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Trust Co. of Toledo NA OH bought a new position in shares of Cleveland-Cliffs during the 2nd quarter worth about $27,000. Atwood & Palmer Inc. bought a new position in shares of Cleveland-Cliffs during the 2nd quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Cleveland-Cliffs during the 1st quarter worth about $36,000. AlphaQuest LLC boosted its position in shares of Cleveland-Cliffs by 408,600.0% during the 1st quarter. AlphaQuest LLC now owns 8,174 shares of the mining company’s stock worth $67,000 after purchasing an additional 8,172 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Cleveland-Cliffs by 61.6% during the 1st quarter. GAMMA Investing LLC now owns 8,615 shares of the mining company’s stock worth $71,000 after purchasing an additional 3,285 shares in the last quarter. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Price Performance

Cleveland-Cliffs stock opened at $13.00 on Thursday. Cleveland-Cliffs Inc. has a 52 week low of $5.63 and a 52 week high of $16.70. The company’s 50 day moving average price is $11.89 and its two-hundred day moving average price is $9.48. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.41. The stock has a market cap of $6.43 billion, a P/E ratio of -3.82 and a beta of 1.96.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Monday, October 20th. The mining company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.03. Cleveland-Cliffs had a negative net margin of 9.00% and a negative return on equity of 20.02%. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the firm earned ($0.33) EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts predict that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CLF shares. Bank of America increased their price objective on shares of Cleveland-Cliffs from $12.50 to $14.50 and gave the stock a “neutral” rating in a research report on Tuesday. Morgan Stanley increased their price objective on shares of Cleveland-Cliffs from $8.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cleveland-Cliffs in a research report on Wednesday, October 8th. KeyCorp raised shares of Cleveland-Cliffs from a “sector weight” rating to an “overweight” rating and set a $14.00 price target on the stock in a research report on Tuesday, July 22nd. Finally, The Goldman Sachs Group raised their price target on shares of Cleveland-Cliffs from $12.85 to $14.50 and gave the company a “buy” rating in a research report on Thursday, October 9th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.36.

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.