Murphy Pohlad Asset Management LLC Has $1.47 Million Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Murphy Pohlad Asset Management LLC raised its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,565 shares of the mining company’s stock after purchasing an additional 22,450 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Cleveland-Cliffs were worth $1,472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Strengthening Families & Communities LLC lifted its position in shares of Cleveland-Cliffs by 299.8% during the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after buying an additional 1,490 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Cleveland-Cliffs in the third quarter valued at about $34,000. Truvestments Capital LLC acquired a new position in Cleveland-Cliffs during the third quarter worth about $34,000. Blue Trust Inc. lifted 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 worth $46,000 after acquiring an additional 2,539 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake 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 purchasing an additional 4,917 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Cleveland-Cliffs Stock Up 1.3 %

Shares of NYSE CLF opened at $10.26 on Thursday. Cleveland-Cliffs Inc. has a 52-week low of $8.99 and a 52-week 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 company’s 50 day moving average price is $10.57 and its 200-day moving average price is $12.20. The company has a market capitalization of $5.07 billion, a P/E ratio of -10.58 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last released its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.02). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the previous year, the firm earned $0.54 EPS. Cleveland-Cliffs’s quarterly revenue was down 18.5% on a year-over-year basis. Equities analysts forecast that Cleveland-Cliffs Inc. will post -0.71 earnings per share for the current year.

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.