180 Wealth Advisors LLC Cuts Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

180 Wealth Advisors LLC reduced its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 72,065 shares of the mining company’s stock after selling 3,332 shares during the period. 180 Wealth Advisors LLC’s holdings in Cleveland-Cliffs were worth $677,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Strengthening Families & Communities LLC raised its holdings in shares of Cleveland-Cliffs by 299.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after purchasing an additional 1,490 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Cleveland-Cliffs during the second quarter valued at approximately $26,000. Darwin Wealth Management LLC bought a new position in Cleveland-Cliffs in the third quarter worth approximately $34,000. Truvestments Capital LLC purchased a new stake in Cleveland-Cliffs during the third quarter worth $34,000. Finally, Blue Trust Inc. boosted its position in Cleveland-Cliffs by 231.9% during the 3rd quarter. Blue Trust Inc. now owns 3,634 shares of the mining company’s stock valued at $46,000 after acquiring an additional 2,539 shares in the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Cleveland-Cliffs Price Performance

Shares of CLF opened at $10.22 on Wednesday. The firm has a market capitalization of $5.05 billion, a PE ratio of -10.54 and a beta of 1.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The company’s fifty day moving average price is $11.04 and its 200-day moving average price is $12.64. Cleveland-Cliffs Inc. has a 1-year low of $8.99 and a 1-year high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same period in the prior year, the company posted $0.54 earnings per share. The firm’s revenue for the quarter was down 18.5% on a year-over-year basis. On average, equities research analysts predict that Cleveland-Cliffs Inc. will post -0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CLF. The Goldman Sachs Group began coverage on Cleveland-Cliffs in a research report on Monday, December 2nd. They issued a “buy” rating and a $16.00 price target for the company. Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price on the stock in a research note on Tuesday, January 7th. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Citigroup cut their price objective on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Finally, Morgan Stanley decreased their target price on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cleveland-Cliffs has an average rating of “Hold” and an average target price of $16.93.

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.