Cleveland-Cliffs Inc. $CLF Stake Raised by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 7.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,550 shares of the mining company’s stock after buying an additional 8,839 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Cleveland-Cliffs were worth $947,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CLF. Clear Creek Financial Management LLC boosted its position in Cleveland-Cliffs by 5.1% during the 2nd quarter. Clear Creek Financial Management LLC now owns 26,480 shares of the mining company’s stock worth $201,000 after acquiring an additional 1,280 shares during the period. Pinnacle Holdings LLC raised its stake in shares of Cleveland-Cliffs by 1.3% during the first quarter. Pinnacle Holdings LLC now owns 105,791 shares of the mining company’s stock valued at $870,000 after purchasing an additional 1,371 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Cleveland-Cliffs by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 297,128 shares of the mining company’s stock worth $2,258,000 after purchasing an additional 1,399 shares during the period. Harbour Investments Inc. lifted its holdings in Cleveland-Cliffs by 7.5% in the first quarter. Harbour Investments Inc. now owns 29,325 shares of the mining company’s stock worth $241,000 after purchasing an additional 2,050 shares during the period. Finally, MAI Capital Management grew its position in Cleveland-Cliffs by 8.6% in the 1st quarter. MAI Capital Management now owns 26,480 shares of the mining company’s stock valued at $218,000 after buying an additional 2,102 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $11.20 on Monday. The company has a market capitalization of $5.54 billion, a PE ratio of -3.29 and a beta of 2.07. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.61 and a current ratio of 2.04. The stock has a fifty day moving average of $12.26 and a 200-day moving average of $10.11. Cleveland-Cliffs Inc. has a one year low of $5.63 and a one year high of $16.70.

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

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Cleveland-Cliffs from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. KeyCorp cut their target price on Cleveland-Cliffs from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. The Goldman Sachs Group lifted their price target on Cleveland-Cliffs from $14.50 to $16.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Citigroup cut their price objective on Cleveland-Cliffs from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Cleveland-Cliffs currently has a consensus rating of “Hold” and a consensus target price of $12.78.

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.