38,140 Shares in Cleveland-Cliffs Inc. $CLF Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. bought a new stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 38,140 shares of the mining company’s stock, valued at approximately $465,000.

A number of other large investors have also recently made changes to their positions in CLF. Strengthening Families & Communities LLC grew its stake in Cleveland-Cliffs by 4,315.6% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after acquiring an additional 1,942 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in shares of Cleveland-Cliffs during the second quarter valued at approximately $27,000. Winch Advisory Services LLC lifted its holdings in Cleveland-Cliffs by 131.3% during the second quarter. Winch Advisory Services LLC now owns 4,070 shares of the mining company’s stock worth $31,000 after buying an additional 2,310 shares during the period. Deseret Mutual Benefit Administrators lifted its stake in shares of Cleveland-Cliffs by 72.6% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 2,768 shares of the mining company’s stock worth $34,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Islay Capital Management LLC purchased a new stake in shares of Cleveland-Cliffs during the second quarter valued at about $38,000. 67.68% of the stock is owned by hedge funds and other institutional investors.

Cleveland-Cliffs Stock Performance

CLF opened at $13.84 on Friday. The firm has a market capitalization of $6.84 billion, a PE ratio of -4.07 and a beta of 1.93. The firm’s 50-day moving average price is $13.44 and its 200 day moving average price is $12.21. Cleveland-Cliffs Inc. has a twelve month low of $5.63 and a twelve month high of $16.70. The company has a current ratio of 2.04, a quick ratio of 0.61 and a debt-to-equity ratio of 1.41.

Analyst Upgrades and Downgrades

CLF has been the subject of a number of recent analyst reports. UBS Group set a $15.00 price objective on Cleveland-Cliffs in a research report on Monday, October 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cleveland-Cliffs in a research report on Tuesday, January 27th. The Goldman Sachs Group upped their price objective on shares of Cleveland-Cliffs from $14.50 to $16.00 and gave the company a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. lifted their price objective on Cleveland-Cliffs from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Finally, Wells Fargo & Company raised shares of Cleveland-Cliffs from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $11.00 to $12.00 in a report on Friday, November 14th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.80.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.