Navellier & Associates Inc. Buys New Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

Navellier & Associates Inc. bought a new stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,313 shares of the mining company’s stock, valued at approximately $97,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CLF. Creative Planning lifted its position in Cleveland-Cliffs by 2.6% during the third quarter. Creative Planning now owns 121,908 shares of the mining company’s stock valued at $1,557,000 after acquiring an additional 3,147 shares during the last quarter. Blue Trust Inc. lifted its position in Cleveland-Cliffs by 231.9% during the third 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 during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Cleveland-Cliffs during the third quarter valued at approximately $327,000. Signaturefd LLC lifted its position in Cleveland-Cliffs by 138.8% during the third quarter. Signaturefd LLC now owns 8,682 shares of the mining company’s stock valued at $111,000 after acquiring an additional 5,047 shares during the last quarter. Finally, Private Advisor Group LLC lifted its position in Cleveland-Cliffs by 3.9% during the third quarter. Private Advisor Group LLC now owns 327,990 shares of the mining company’s stock valued at $4,188,000 after acquiring an additional 12,391 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 price target on the stock. Morgan Stanley cut their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Citigroup cut their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. B. Riley restated a “buy” rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. Finally, Glj Research upgraded shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price target on the stock in a research note on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.68.

Cleveland-Cliffs Stock Down 5.3 %

NYSE:CLF opened at $11.35 on Monday. The firm has a market capitalization of $5.60 billion, a P/E ratio of -11.70 and a beta of 1.96. Cleveland-Cliffs Inc. has a 1-year low of $8.99 and a 1-year high of $22.97. The company’s fifty day moving average price is $10.22 and its 200-day moving average price is $11.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55.

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.