Patriot Financial Group Insurance Agency LLC Has $125,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 11.0% in the 4th quarter, HoldingsChannel reports. The firm owned 13,270 shares of the mining company’s stock after buying an additional 1,313 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Cleveland-Cliffs were worth $125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLF. Strengthening Families & Communities LLC raised its position in shares of Cleveland-Cliffs by 299.8% in the third 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 during the period. Darwin Wealth Management LLC bought a new position in Cleveland-Cliffs in the 3rd quarter valued at about $34,000. Truvestments Capital LLC acquired a new stake in Cleveland-Cliffs during the third quarter worth approximately $34,000. 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 worth $46,000 after acquiring an additional 2,539 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Cleveland-Cliffs by 1,190.6% during the fourth quarter. GAMMA Investing LLC now owns 5,330 shares of the mining company’s stock worth $50,000 after acquiring an additional 4,917 shares during the period. 67.68% of the stock is owned by institutional investors.

Cleveland-Cliffs Trading Up 1.3 %

Shares of CLF stock opened at $10.26 on Thursday. Cleveland-Cliffs Inc. has a fifty-two week low of $8.99 and a fifty-two week high of $22.97. The stock’s fifty day moving average price is $10.57 and its two-hundred day moving average price is $12.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. The company has a market cap of $5.07 billion, a PE ratio of -10.58 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last released its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The business’s revenue was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. Equities analysts predict that Cleveland-Cliffs Inc. will post -0.71 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CLF. Citigroup lowered their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Glj Research raised Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a report on Tuesday, January 7th. The Goldman Sachs Group initiated coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They issued a “buy” rating and a $16.00 target price for the company. Finally, StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.93.

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.