Courier Capital LLC Has $482,000 Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Courier Capital LLC decreased its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,747 shares of the mining company’s stock after selling 2,461 shares during the quarter. Courier Capital LLC’s holdings in Cleveland-Cliffs were worth $482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in Cleveland-Cliffs during the second quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Cleveland-Cliffs in the second quarter worth about $31,000. Gradient Investments LLC boosted its position in shares of Cleveland-Cliffs by 138.8% in the second quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock valued at $33,000 after acquiring an additional 1,249 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Cleveland-Cliffs by 41.7% in the first quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock valued at $39,000 after acquiring an additional 500 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Cleveland-Cliffs by 247.8% in the first quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock valued at $43,000 after acquiring an additional 1,343 shares during the period. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CLF. Seaport Res Ptn upgraded shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Morgan Stanley lowered their price objective on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Finally, Citigroup lowered their price objective on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.56.

Cleveland-Cliffs Stock Performance

Shares of Cleveland-Cliffs stock opened at $13.30 on Friday. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 17.97 and a beta of 1.98. The firm’s 50-day moving average is $12.62 and its 200 day moving average is $15.15. Cleveland-Cliffs Inc. has a 1 year low of $10.21 and a 1 year high of $22.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.87 and a quick ratio of 0.60.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Monday, July 22nd. The mining company reported $0.11 earnings per share (EPS) for the quarter. Cleveland-Cliffs had a net margin of 0.21% and a return on equity of 4.94%. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter in the prior year, the business earned $0.69 EPS. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. Sell-side analysts anticipate that Cleveland-Cliffs Inc. will post -0.23 EPS for the current fiscal 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.