180 Wealth Advisors LLC Raises Position in Cleveland-Cliffs Inc. $CLF

180 Wealth Advisors LLC raised its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 36.4% during the second quarter, HoldingsChannel reports. The firm owned 86,508 shares of the mining company’s stock after purchasing an additional 23,084 shares during the period. 180 Wealth Advisors LLC’s holdings in Cleveland-Cliffs were worth $657,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CLF. Atwood & Palmer Inc. bought a new stake in Cleveland-Cliffs during the 2nd quarter valued at approximately $27,000. Trust Co. of Toledo NA OH bought a new stake in Cleveland-Cliffs during the 2nd quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Cleveland-Cliffs during the first quarter valued at approximately $36,000. AlphaQuest LLC lifted its holdings in shares of Cleveland-Cliffs by 408,600.0% during the first quarter. AlphaQuest LLC now owns 8,174 shares of the mining company’s stock valued at $67,000 after purchasing an additional 8,172 shares during the last quarter. Finally, Byrne Asset Management LLC lifted its holdings in shares of Cleveland-Cliffs by 44.2% during the second quarter. Byrne Asset Management LLC now owns 9,159 shares of the mining company’s stock valued at $70,000 after purchasing an additional 2,806 shares during the last quarter. 67.68% of the stock is owned by institutional investors.

Cleveland-Cliffs Trading Up 0.5%

NYSE:CLF opened at $13.13 on Friday. The company has a current ratio of 2.04, a quick ratio of 0.61 and a debt-to-equity ratio of 1.41. Cleveland-Cliffs Inc. has a 12 month low of $5.63 and a 12 month high of $16.70. The company has a market cap of $6.49 billion, a PE ratio of -3.86 and a beta of 1.96. The company has a 50 day simple moving average of $12.00 and a two-hundred day simple moving average of $9.56.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Monday, October 20th. The mining company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.03. Cleveland-Cliffs had a negative net margin of 9.00% and a negative return on equity of 20.02%. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the firm posted ($0.33) EPS. The firm’s revenue was up 3.6% on a year-over-year basis. Research analysts forecast that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Cleveland-Cliffs from $12.85 to $14.50 and gave the company a “buy” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Cleveland-Cliffs from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Bank of America boosted their price objective on shares of Cleveland-Cliffs from $12.50 to $14.50 and gave the stock a “neutral” rating in a report on Tuesday. Weiss Ratings restated a “sell (d)” rating on shares of Cleveland-Cliffs in a report on Wednesday, October 8th. Finally, KeyCorp upgraded shares of Cleveland-Cliffs from a “sector weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Tuesday, July 22nd. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Cleveland-Cliffs has an average rating of “Hold” and a consensus price target of $12.36.

About Cleveland-Cliffs

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.