Weil Company Inc. Has $850,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Weil Company Inc. cut its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 43.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,541 shares of the mining company’s stock after selling 51,147 shares during the period. Weil Company Inc.’s holdings in Cleveland-Cliffs were worth $850,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Altshuler Shaham Ltd bought a new position in Cleveland-Cliffs in the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new position in Cleveland-Cliffs during the second quarter worth $31,000. Gradient Investments LLC raised its stake in Cleveland-Cliffs by 138.8% during the 2nd 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. EverSource Wealth Advisors LLC raised its stake in Cleveland-Cliffs by 247.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock valued at $43,000 after purchasing an additional 1,343 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in Cleveland-Cliffs in the 1st quarter valued at $45,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

Shares of NYSE:CLF opened at $12.88 on Monday. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of -13.27 and a beta of 1.97. The business’s fifty day moving average price is $12.63 and its two-hundred day moving average price is $14.46. Cleveland-Cliffs Inc. has a fifty-two week low of $10.21 and a fifty-two week high of $22.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.60.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.02). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the previous year, the company posted $0.54 EPS. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. As a group, analysts predict that Cleveland-Cliffs Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Citigroup lowered their price target on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 10th. Morgan Stanley reduced their price objective on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Finally, StockNews.com cut Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.56.

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.