Cleveland-Cliffs Inc. (NYSE:CLF) Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC raised its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 160,130 shares of the mining company’s stock after acquiring an additional 15,638 shares during the period. Kestra Private Wealth Services LLC’s holdings in Cleveland-Cliffs were worth $1,505,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CLF. Creative Planning raised its stake in Cleveland-Cliffs by 2.6% during the third quarter. Creative Planning now owns 121,908 shares of the mining company’s stock worth $1,557,000 after purchasing an additional 3,147 shares during the period. NBC Securities Inc. grew its position in Cleveland-Cliffs by 62.8% in the third quarter. NBC Securities Inc. now owns 58,118 shares of the mining company’s stock worth $742,000 after acquiring an additional 22,423 shares during the period. Vontobel Holding Ltd. increased its stake in Cleveland-Cliffs by 103.3% during the third quarter. Vontobel Holding Ltd. now owns 24,892 shares of the mining company’s stock worth $318,000 after acquiring an additional 12,649 shares during the last quarter. Paragon Capital Management Inc. purchased a new stake in Cleveland-Cliffs in the third quarter valued at $1,472,000. Finally, Twelve Points Wealth Management LLC lifted its stake in shares of Cleveland-Cliffs by 58.5% in the 3rd quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company’s stock valued at $1,708,000 after purchasing an additional 49,359 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Wall Street Analyst Weigh In

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

Cleveland-Cliffs Stock Performance

Shares of CLF stock opened at $10.55 on Thursday. The firm has a 50 day moving average of $10.21 and a two-hundred day moving average of $11.85. The stock has a market capitalization of $5.21 billion, a PE ratio of -10.88 and a beta of 1.96. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs Inc. has a 52 week low of $8.99 and a 52 week high of $22.97.

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.