AustralianSuper Pty Ltd Has $6.96 Million Stock Position in Cleveland-Cliffs Inc. (NYSE:CLF)

AustralianSuper Pty Ltd raised its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 32.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 545,185 shares of the mining company’s stock after acquiring an additional 133,181 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Cleveland-Cliffs were worth $6,962,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new stake in shares of Cleveland-Cliffs during the second quarter worth about $26,000. EverSource Wealth Advisors LLC raised its position in Cleveland-Cliffs by 247.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock valued at $43,000 after buying an additional 1,343 shares during the last quarter. LRI Investments LLC acquired a new position in Cleveland-Cliffs during the 1st quarter worth approximately $45,000. Hobbs Group Advisors LLC bought a new position in shares of Cleveland-Cliffs during the 2nd quarter worth approximately $31,000. Finally, Gradient Investments LLC raised its holdings in shares of Cleveland-Cliffs by 138.8% in the second quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock valued at $33,000 after purchasing an additional 1,249 shares during the last quarter. 67.68% of the stock is owned by institutional investors.

Cleveland-Cliffs Stock Performance

NYSE:CLF opened at $12.99 on Friday. The business’s fifty day moving average is $12.68 and its 200 day moving average is $14.86. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.60 and a current ratio of 1.87. Cleveland-Cliffs Inc. has a 52-week low of $10.21 and a 52-week high of $22.97. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 185.50 and a beta of 1.98.

Analyst Upgrades and Downgrades

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