Twelve Points Wealth Management LLC Grows Stock Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Twelve Points Wealth Management LLC grew its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 11.2% during the fourth quarter, HoldingsChannel reports. The firm owned 148,672 shares of the mining company’s stock after buying an additional 14,955 shares during the period. Twelve Points Wealth Management LLC’s holdings in Cleveland-Cliffs were worth $1,398,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. increased its stake in Cleveland-Cliffs by 105.6% during the 3rd quarter. Franklin Resources Inc. now owns 262,771 shares of the mining company’s stock worth $3,429,000 after buying an additional 134,939 shares during the period. Janus Henderson Group PLC increased its position in shares of Cleveland-Cliffs by 987.0% during the third quarter. Janus Henderson Group PLC now owns 207,000 shares of the mining company’s stock worth $2,644,000 after acquiring an additional 187,957 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Cleveland-Cliffs in the third quarter worth about $22,122,000. First Dallas Securities Inc. boosted its holdings in Cleveland-Cliffs by 27.9% in the third quarter. First Dallas Securities Inc. now owns 206,750 shares of the mining company’s stock valued at $2,640,000 after purchasing an additional 45,150 shares during the last quarter. Finally, Barclays PLC grew its stake in Cleveland-Cliffs by 232.4% during the 3rd quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock valued at $39,757,000 after purchasing an additional 2,176,837 shares in the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CLF has been the subject of several research analyst reports. StockNews.com cut Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Citigroup reduced their price objective on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Glj Research raised 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, The Goldman Sachs Group began coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cleveland-Cliffs currently has a consensus rating of “Hold” and a consensus price target of $16.93.

Cleveland-Cliffs Trading Up 2.2 %

NYSE:CLF opened at $10.14 on Wednesday. The firm has a market capitalization of $5.01 billion, a P/E ratio of -10.46 and a beta of 1.97. The business has a 50 day simple moving average of $10.60 and a 200 day simple moving average of $12.21. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. Cleveland-Cliffs Inc. has a 12-month low of $8.99 and a 12-month high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly 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 for the quarter, compared to analyst estimates of $4.72 billion. During the same period last year, the firm posted $0.54 EPS. The business’s revenue was down 18.5% compared to the same quarter last year. Equities research analysts predict that Cleveland-Cliffs Inc. will post -0.71 EPS for the current year.

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.