Cleveland-Cliffs Inc. (NYSE:CLF) Shares Purchased by Barclays PLC

Barclays PLC lifted its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 232.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,113,337 shares of the mining company’s stock after buying an additional 2,176,837 shares during the period. Barclays PLC’s holdings in Cleveland-Cliffs were worth $39,757,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Strengthening Families & Communities LLC boosted its holdings in Cleveland-Cliffs by 299.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after acquiring an additional 1,490 shares during the period. Altshuler Shaham Ltd acquired a new stake in Cleveland-Cliffs during the 2nd quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new stake in Cleveland-Cliffs during the 2nd quarter worth $31,000. Gradient Investments LLC lifted its holdings in Cleveland-Cliffs by 138.8% in the 2nd quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock worth $33,000 after buying an additional 1,249 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in Cleveland-Cliffs in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

Cleveland-Cliffs stock opened at $10.96 on Friday. The company has a market cap of $5.41 billion, a PE ratio of -11.29 and a beta of 1.92. Cleveland-Cliffs Inc. has a 12 month low of $10.21 and a 12 month high of $22.97. The company has a fifty day moving average price of $12.61 and a two-hundred day moving average price of $13.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The company’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period last year, the firm posted $0.54 earnings per share. Research analysts expect that Cleveland-Cliffs Inc. will post -0.45 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on CLF shares. Morgan Stanley dropped their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Citigroup decreased their price target on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group started coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cleveland-Cliffs presently has an average rating of “Hold” and a consensus price target of $17.39.

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.