Kestra Private Wealth Services LLC Grows Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Kestra Private Wealth Services LLC raised its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 10.8% in the fourth quarter, Holdings Channel reports. The fund owned 160,130 shares of the mining company’s stock after buying an additional 15,638 shares during the period. Kestra Private Wealth Services LLC’s holdings in Cleveland-Cliffs were worth $1,505,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Entropy Technologies LP raised its holdings in shares of Cleveland-Cliffs by 955.2% in the 4th quarter. Entropy Technologies LP now owns 171,993 shares of the mining company’s stock valued at $1,617,000 after purchasing an additional 155,693 shares in the last quarter. Empowered Funds LLC acquired a new stake in Cleveland-Cliffs in the fourth quarter valued at $462,000. Byrne Asset Management LLC raised its stake in Cleveland-Cliffs by 130.0% in the fourth quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company’s stock valued at $43,000 after buying an additional 2,600 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Cleveland-Cliffs during the 4th quarter worth about $147,000. Finally, Archer Investment Corp boosted its position in shares of Cleveland-Cliffs by 96.2% during the 4th quarter. Archer Investment Corp now owns 15,299 shares of the mining company’s stock worth $144,000 after acquiring an additional 7,500 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Down 6.6 %

Shares of NYSE:CLF opened at $10.55 on Thursday. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of -10.88 and a beta of 1.96. The stock’s 50-day moving average price is $10.21 and its two-hundred day moving average price is $11.85. Cleveland-Cliffs Inc. has a 12-month low of $8.99 and a 12-month high of $22.97.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CLF shares. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Glj Research raised shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective on the stock in a research note on Tuesday, January 7th. Citigroup reduced their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group began coverage on shares of Cleveland-Cliffs in a report on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Morgan Stanley dropped their price target on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.68.

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.