Cleveland-Cliffs Inc. (NYSE:CLF) Holdings Trimmed by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC cut its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 21.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 16,750 shares of the mining company’s stock after selling 4,685 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Cleveland-Cliffs were worth $157,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of CLF. Strengthening Families & Communities LLC increased its holdings in shares of Cleveland-Cliffs by 299.8% in the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after buying an additional 1,490 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Cleveland-Cliffs during the third quarter valued at $34,000. Truvestments Capital LLC acquired a new position in shares of Cleveland-Cliffs in the 3rd quarter valued at $34,000. Blue Trust Inc. raised its holdings in shares of Cleveland-Cliffs by 231.9% during the third quarter. Blue Trust Inc. now owns 3,634 shares of the mining company’s stock valued at $46,000 after acquiring an additional 2,539 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Cleveland-Cliffs by 1,190.6% in the 4th quarter. GAMMA Investing LLC now owns 5,330 shares of the mining company’s stock valued at $50,000 after acquiring an additional 4,917 shares in the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

Cleveland-Cliffs Stock Performance

CLF stock opened at $10.01 on Friday. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of -10.31 and a beta of 1.97. The firm has a 50 day moving average of $10.65 and a two-hundred day moving average of $12.34. 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 12 month low of $8.99 and a 12 month high of $22.97.

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). The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. Cleveland-Cliffs’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter last year, the business earned $0.54 earnings per share. As a group, equities analysts anticipate that Cleveland-Cliffs Inc. will post -0.71 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on CLF shares. Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a report on Tuesday, January 7th. The Goldman Sachs Group assumed coverage on Cleveland-Cliffs in a research note on Monday, December 2nd. They issued a “buy” rating and a $16.00 price objective for the company. Citigroup dropped their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Finally, StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.93.

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.