Cullen Investment Group LTD. Purchases 9,650 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Cullen Investment Group LTD. increased its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 25.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,069 shares of the mining company’s stock after purchasing an additional 9,650 shares during the period. Cullen Investment Group LTD.’s holdings in Cleveland-Cliffs were worth $452,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Franklin Resources Inc. boosted 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 valued at $3,429,000 after purchasing an additional 134,939 shares during the last quarter. Twelve Points Wealth Management LLC boosted its position in shares of Cleveland-Cliffs by 58.5% during the third quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company’s stock valued at $1,708,000 after buying an additional 49,359 shares during the last quarter. Janus Henderson Group PLC grew its holdings in 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 buying an additional 187,957 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Cleveland-Cliffs in the 3rd quarter valued at $22,122,000. Finally, First Dallas Securities Inc. lifted its stake in Cleveland-Cliffs by 27.9% during the 3rd quarter. First Dallas Securities Inc. now owns 206,750 shares of the mining company’s stock valued at $2,640,000 after acquiring an additional 45,150 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Up 5.8 %

CLF stock opened at $10.47 on Tuesday. The business has a 50 day moving average of $11.09 and a 200 day moving average of $12.67. The firm has a market cap of $5.17 billion, a PE ratio of -10.79 and a beta of 1.97. Cleveland-Cliffs Inc. has a twelve month low of $8.99 and a twelve month high of $22.97. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. Cleveland-Cliffs’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 earnings per share. On average, research analysts forecast that Cleveland-Cliffs Inc. will post -0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

CLF has been the topic of several research analyst reports. Citigroup cut their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Glj Research upgraded shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price target for the company in a research report on Tuesday, January 7th. Morgan Stanley lowered their price objective on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. The Goldman Sachs Group assumed coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They issued a “buy” rating and a $16.00 target price on the stock. Finally, StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cleveland-Cliffs presently has an average rating of “Hold” and a consensus target price of $16.93.

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.