Mraz Amerine & Associates Inc. Has $1.93 Million Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Mraz Amerine & Associates Inc. increased its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 4.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 151,223 shares of the mining company’s stock after acquiring an additional 6,558 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in Cleveland-Cliffs were worth $1,931,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Cleveland-Cliffs by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,053 shares of the mining company’s stock valued at $570,000 after acquiring an additional 476 shares during the period. Hexagon Capital Partners LLC boosted its position in Cleveland-Cliffs by 41.7% in the first quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock worth $39,000 after purchasing an additional 500 shares during the last quarter. Altus Wealth Group LLC grew its position in Cleveland-Cliffs by 7.2% during the third quarter. Altus Wealth Group LLC now owns 11,900 shares of the mining company’s stock valued at $152,000 after buying an additional 800 shares during the period. InterOcean Capital Group LLC increased its stake in shares of Cleveland-Cliffs by 4.1% during the 1st quarter. InterOcean Capital Group LLC now owns 20,334 shares of the mining company’s stock worth $462,000 after purchasing an additional 805 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in shares of Cleveland-Cliffs by 3.6% in the first quarter. J.W. Cole Advisors Inc. now owns 24,575 shares of the mining company’s stock valued at $559,000 after buying an additional 845 shares during the period. 67.68% of the stock is owned by institutional investors.

Cleveland-Cliffs Trading Up 2.3 %

Shares of CLF stock opened at $13.30 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.87 and a quick ratio of 0.60. The stock’s 50 day simple moving average is $12.62 and its two-hundred day simple moving average is $15.15. The company has a market cap of $6.32 billion, a PE ratio of 17.97 and a beta of 1.98. Cleveland-Cliffs Inc. has a 1 year low of $10.21 and a 1 year high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Monday, July 22nd. The mining company reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Cleveland-Cliffs had a net margin of 0.21% and a return on equity of 4.94%. The firm’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 EPS. Research analysts predict that Cleveland-Cliffs Inc. will post -0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CLF shares. Morgan Stanley decreased their price objective on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Citigroup decreased their target price on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cleveland-Cliffs currently has a consensus rating of “Hold” and a consensus price target of $17.56.

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.