United Capital Financial Advisors LLC Invests $490,000 in Cleveland-Cliffs Inc. $CLF

United Capital Financial Advisors LLC acquired a new stake in Cleveland-Cliffs Inc. (NYSE:CLF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 52,166 shares of the mining company’s stock, valued at approximately $490,000.

Other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its stake in Cleveland-Cliffs by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 152,009 shares of the mining company’s stock valued at $1,855,000 after acquiring an additional 943 shares during the last quarter. Moors & Cabot Inc. increased its stake in shares of Cleveland-Cliffs by 3.0% during the 3rd quarter. Moors & Cabot Inc. now owns 33,118 shares of the mining company’s stock worth $404,000 after purchasing an additional 960 shares during the last quarter. Rexford Capital Inc. increased its stake in shares of Cleveland-Cliffs by 11.8% during the 4th quarter. Rexford Capital Inc. now owns 9,500 shares of the mining company’s stock worth $126,000 after purchasing an additional 1,000 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Cleveland-Cliffs by 117.5% in the 4th quarter. IFP Advisors Inc now owns 2,221 shares of the mining company’s stock valued at $29,000 after purchasing an additional 1,200 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Cleveland-Cliffs by 94.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,505 shares of the mining company’s stock valued at $33,000 after purchasing an additional 1,214 shares during the period. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Trading Down 0.6%

CLF stock opened at $11.55 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.63 and a current ratio of 1.89. The company’s 50-day simple moving average is $10.88 and its 200 day simple moving average is $10.66. Cleveland-Cliffs Inc. has a 52 week low of $7.73 and a 52 week high of $16.70. The company has a market capitalization of $6.59 billion, a PE ratio of -7.13 and a beta of 2.09.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Thursday, July 23rd. The mining company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. Cleveland-Cliffs had a negative net margin of 4.56% and a negative return on equity of 13.37%. The firm had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the previous year, the firm posted ($0.50) EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cleveland-Cliffs Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling at Cleveland-Cliffs

In other news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of Cleveland-Cliffs stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $13.41, for a total value of $2,873,870.28. Following the completion of the sale, the executive vice president directly owned 184,542 shares in the company, valued at approximately $2,474,708.22. The trade was a 53.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CLF shares. Wells Fargo & Company lifted their price target on Cleveland-Cliffs from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. Glj Research upgraded Cleveland-Cliffs from a “hold” rating to a “buy” rating and upped their price objective for the company from $15.01 to $15.60 in a research note on Friday, July 24th. Barclays raised their price objective on Cleveland-Cliffs from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Friday, July 24th. Citigroup reiterated a “positive” rating on shares of Cleveland-Cliffs in a research note on Friday, July 24th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $12.50 target price (up from $12.00) on shares of Cleveland-Cliffs in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.96.

Cleveland-Cliffs Profile

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.