Tectonic Advisors LLC Has $1.29 Million Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Tectonic Advisors LLC increased its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 36.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,177 shares of the mining company’s stock after acquiring an additional 27,181 shares during the quarter. Tectonic Advisors LLC’s holdings in Cleveland-Cliffs were worth $1,292,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CLF. Altshuler Shaham Ltd acquired a new stake in Cleveland-Cliffs in the second quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new position in shares of Cleveland-Cliffs in the 2nd quarter worth $31,000. Gradient Investments LLC grew its position in Cleveland-Cliffs by 138.8% in the 2nd quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock valued at $33,000 after purchasing an additional 1,249 shares during the period. Hexagon Capital Partners LLC increased its stake 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 valued at $39,000 after purchasing an additional 500 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Cleveland-Cliffs by 247.8% during the first quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock worth $43,000 after buying an additional 1,343 shares during the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Cleveland-Cliffs Stock Down 1.7 %

Shares of NYSE:CLF opened at $13.08 on Friday. Cleveland-Cliffs Inc. has a 1 year low of $10.21 and a 1 year high of $22.97. The company has a market capitalization of $6.22 billion, a PE ratio of 17.67 and a beta of 1.98. The business has a fifty day moving average price of $12.63 and a two-hundred day moving average price of $15.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.87 and a quick ratio of 0.60.

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.