5,000 Shares in Cleveland-Cliffs Inc. (NYSE:CLF) Acquired by Eastern Bank

Eastern Bank purchased a new position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,000 shares of the mining company’s stock, valued at approximately $64,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Altshuler Shaham Ltd purchased a new position in Cleveland-Cliffs during the 2nd quarter worth $26,000. Hobbs Group Advisors LLC purchased a new position in Cleveland-Cliffs during the 2nd quarter worth $31,000. Gradient Investments LLC increased its holdings in Cleveland-Cliffs by 138.8% during the 2nd quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock worth $33,000 after purchasing an additional 1,249 shares during the period. Hexagon Capital Partners LLC increased its holdings in Cleveland-Cliffs by 41.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock worth $39,000 after purchasing an additional 500 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Cleveland-Cliffs by 247.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock worth $43,000 after purchasing an additional 1,343 shares during the period. 67.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

CLF has been the topic of a number of analyst reports. Citigroup cut their price target on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Morgan Stanley dropped their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. Finally, Seaport Res Ptn upgraded Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.56.

Cleveland-Cliffs Stock Performance

Shares of CLF stock opened at $13.08 on Friday. The stock has a market cap of $6.22 billion, a PE ratio of 17.67 and a beta of 1.98. The business has a 50-day simple moving average of $12.63 and a 200-day simple moving average of $15.09. The company has a quick ratio of 0.60, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. Cleveland-Cliffs Inc. has a 52-week low of $10.21 and a 52-week high of $22.97.

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.