Clear Harbor Asset Management LLC Has $200,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Clear Harbor Asset Management LLC grew its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 49.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,650 shares of the mining company’s stock after purchasing an additional 5,200 shares during the period. Clear Harbor Asset Management LLC’s holdings in Cleveland-Cliffs were worth $200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CLF. DekaBank Deutsche Girozentrale lifted its holdings in Cleveland-Cliffs by 3.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 40,408 shares of the mining company’s stock worth $515,000 after acquiring an additional 1,237 shares in the last quarter. PFG Investments LLC grew its position in shares of Cleveland-Cliffs by 15.2% in the 3rd quarter. PFG Investments LLC now owns 17,985 shares of the mining company’s stock valued at $230,000 after purchasing an additional 2,370 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Cleveland-Cliffs by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,612 shares of the mining company’s stock worth $161,000 after purchasing an additional 1,810 shares in the last quarter. Harbour Trust & Investment Management Co raised its holdings in Cleveland-Cliffs by 20.4% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 12,040 shares of the mining company’s stock worth $154,000 after buying an additional 2,040 shares during the period. Finally, Mraz Amerine & Associates Inc. boosted its holdings in shares of Cleveland-Cliffs by 4.5% in the third quarter. Mraz Amerine & Associates Inc. now owns 151,223 shares of the mining company’s stock valued at $1,931,000 after buying an additional 6,558 shares during the period. 67.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Seaport Res Ptn raised shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Citigroup reduced their price objective on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Finally, Morgan Stanley cut their target price 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. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.56.

Cleveland-Cliffs Trading Down 1.7 %

Shares of CLF stock opened at $13.07 on Monday. Cleveland-Cliffs Inc. has a 12-month low of $10.21 and a 12-month high of $22.97. The firm has a 50 day moving average price of $12.63 and a two-hundred day moving average price of $14.99. The company has a quick ratio of 0.60, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $6.21 billion, a PE ratio of 17.66 and a beta of 1.98.

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.