Crumly & Associates Inc. Sells 26,068 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Crumly & Associates Inc. lowered its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 33.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,436 shares of the mining company’s stock after selling 26,068 shares during the period. Crumly & Associates Inc.’s holdings in Cleveland-Cliffs were worth $493,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC lifted its stake in Cleveland-Cliffs by 299.8% during the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after purchasing an additional 1,490 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Cleveland-Cliffs during the third quarter worth about $34,000. Truvestments Capital LLC bought a new stake in Cleveland-Cliffs during the third quarter worth about $34,000. Blue Trust Inc. lifted its stake 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 purchasing an additional 2,539 shares during the last quarter. Finally, Byrne Asset Management LLC lifted its stake in Cleveland-Cliffs by 130.0% during the fourth quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company’s stock worth $43,000 after purchasing an additional 2,600 shares during the last quarter. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

Shares of NYSE:CLF opened at $11.98 on Friday. Cleveland-Cliffs Inc. has a 1 year low of $8.99 and a 1 year high of $22.97. 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 stock’s 50-day moving average is $10.19 and its 200 day moving average is $11.74.

Wall Street Analyst Weigh In

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

Cleveland-Cliffs Company 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.