Cleveland-Cliffs Inc. $CLF is Easterly Investment Partners LLC’s 10th Largest Position

Easterly Investment Partners LLC lowered its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,585,056 shares of the mining company’s stock after selling 44,709 shares during the quarter. Cleveland-Cliffs makes up approximately 1.3% of Easterly Investment Partners LLC’s holdings, making the stock its 10th biggest position. Easterly Investment Partners LLC owned about 0.32% of Cleveland-Cliffs worth $21,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CLF. Strengthening Families & Communities LLC increased its position in shares of Cleveland-Cliffs by 4,315.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after purchasing an additional 1,942 shares during the last quarter. IFP Advisors Inc increased its position in shares of Cleveland-Cliffs by 117.5% during the 4th quarter. IFP Advisors Inc now owns 2,221 shares of the mining company’s stock valued at $29,000 after purchasing an additional 1,200 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Cleveland-Cliffs by 819.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,684 shares of the mining company’s stock valued at $33,000 after purchasing an additional 2,392 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Cleveland-Cliffs during the 4th quarter valued at about $44,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Cleveland-Cliffs during the 3rd quarter valued at about $72,000. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CLF. Barclays began coverage on Cleveland-Cliffs in a research note on Thursday, May 21st. They issued an “underweight” rating and a $9.00 price objective for the company. Glj Research restated a “sell” rating and issued a $9.42 price objective on shares of Cleveland-Cliffs in a research note on Monday, March 16th. The Goldman Sachs Group restated a “neutral” rating and issued a $10.00 price objective on shares of Cleveland-Cliffs in a research note on Friday, May 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Cleveland-Cliffs in a research note on Friday, April 24th. Finally, KeyCorp started coverage on Cleveland-Cliffs in a research note on Wednesday, March 25th. They issued a “sector weight” rating for the company. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $11.49.

Cleveland-Cliffs Trading Down 0.3%

Shares of CLF stock opened at $13.56 on Monday. Cleveland-Cliffs Inc. has a 52-week low of $5.63 and a 52-week high of $16.70. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.64 and a current ratio of 2.02. The firm has a market capitalization of $7.73 billion, a PE ratio of -5.79 and a beta of 2.08. The stock has a fifty day simple moving average of $9.88 and a two-hundred day simple moving average of $11.39.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Monday, April 20th. The mining company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.04. Cleveland-Cliffs had a negative net margin of 6.42% and a negative return on equity of 15.48%. The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.84 billion. During the same period last year, the firm posted ($0.92) earnings per share. Cleveland-Cliffs’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts predict that Cleveland-Cliffs Inc. will post -0.46 EPS for the current fiscal year.

Cleveland-Cliffs Company Profile

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.