Mraz Amerine & Associates Inc. Increases Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Mraz Amerine & Associates Inc. boosted its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 4.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,223 shares of the mining company’s stock after purchasing an additional 6,558 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Cleveland-Cliffs were worth $1,931,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CLF. Tectonic Advisors LLC lifted its position in Cleveland-Cliffs by 36.7% during the third quarter. Tectonic Advisors LLC now owns 101,177 shares of the mining company’s stock worth $1,292,000 after buying an additional 27,181 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Cleveland-Cliffs by 1,893.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,227,848 shares of the mining company’s stock worth $156,800,000 after purchasing an additional 1,166,258 shares during the period. Altus Wealth Group LLC grew its holdings in shares of Cleveland-Cliffs by 7.2% during the 3rd quarter. Altus Wealth Group LLC now owns 11,900 shares of the mining company’s stock worth $152,000 after purchasing an additional 800 shares during the period. Private Advisor Group LLC increased its position in Cleveland-Cliffs by 3.9% during the 3rd quarter. Private Advisor Group LLC now owns 327,990 shares of the mining company’s stock worth $4,188,000 after purchasing an additional 12,391 shares in the last quarter. Finally, Eastern Bank acquired a new position in Cleveland-Cliffs during the third quarter valued at approximately $64,000. 67.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Cleveland-Cliffs Stock Up 2.3 %

NYSE CLF opened at $13.30 on Friday. The stock has a fifty day moving average of $12.62 and a 200-day moving average of $15.15. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.60 and a current ratio of 1.87. The stock has a market capitalization of $6.32 billion, a P/E ratio of 17.97 and a beta of 1.98. Cleveland-Cliffs Inc. has a 52 week low of $10.21 and a 52 week high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings results on Monday, July 22nd. The mining company reported $0.11 EPS for the quarter. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Cleveland-Cliffs had a return on equity of 4.94% and a net margin of 0.21%. Cleveland-Cliffs’s revenue was down 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 EPS. On average, equities research analysts forecast that Cleveland-Cliffs Inc. will post -0.23 EPS for the current year.

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.