D.B. Root & Company LLC Buys New Shares in Cleveland-Cliffs Inc. (NYSE:CLF)

D.B. Root & Company LLC purchased a new position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) during the fourth quarter, Holdings Channel.com reports. The firm purchased 10,100 shares of the mining company’s stock, valued at approximately $95,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strengthening Families & Communities LLC boosted its holdings in Cleveland-Cliffs by 299.8% in the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after acquiring an additional 1,490 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Cleveland-Cliffs during the 3rd quarter worth $34,000. Truvestments Capital LLC bought a new stake in Cleveland-Cliffs in the 3rd quarter worth about $34,000. Blue Trust Inc. grew its holdings in shares of Cleveland-Cliffs by 231.9% in 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 in the last quarter. Finally, GAMMA Investing LLC grew its stake in 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 purchasing an additional 4,917 shares during the period. 67.68% of the stock is owned by institutional investors.

Cleveland-Cliffs Trading Up 2.4 %

NYSE:CLF opened at $9.96 on Friday. The firm has a market capitalization of $4.92 billion, a P/E ratio of -10.26 and a beta of 1.97. The company has a fifty day moving average of $10.67 and a 200 day moving average of $12.38. 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.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). The business 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 revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. On average, research analysts predict that Cleveland-Cliffs Inc. will post -0.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.