Y Intercept Hong Kong Ltd Has $5.14 Million Position in Cleveland-Cliffs Inc. $CLF

Y Intercept Hong Kong Ltd raised its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 1,525.1% in the third quarter, Holdings Channel.com reports. The fund owned 420,927 shares of the mining company’s stock after acquiring an additional 395,026 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Cleveland-Cliffs were worth $5,135,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Cleveland-Cliffs by 20.2% in the 2nd quarter. State Street Corp now owns 27,450,442 shares of the mining company’s stock valued at $208,623,000 after purchasing an additional 4,603,807 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new stake in shares of Cleveland-Cliffs during the 2nd quarter worth about $63,731,000. BNP Paribas Financial Markets boosted its stake in shares of Cleveland-Cliffs by 200.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,329,414 shares of the mining company’s stock worth $48,104,000 after acquiring an additional 4,222,528 shares in the last quarter. Norges Bank acquired a new position in shares of Cleveland-Cliffs during the 2nd quarter valued at about $44,120,000. Finally, Turiya Advisors Asia Ltd bought a new position in shares of Cleveland-Cliffs in the 2nd quarter valued at approximately $39,357,000. 67.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

CLF has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Thursday, October 30th. Citigroup lowered their target price on shares of Cleveland-Cliffs from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. UBS Group set a $15.00 target price on shares of Cleveland-Cliffs in a report on Monday, October 27th. Bank of America upped their price target on shares of Cleveland-Cliffs from $12.50 to $14.50 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Finally, Morgan Stanley upgraded Cleveland-Cliffs from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $12.80 to $17.00 in a research note on Friday, January 9th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.80.

Cleveland-Cliffs Trading Up 5.2%

Shares of CLF opened at $15.09 on Friday. The stock’s 50-day moving average price is $13.01 and its 200 day moving average price is $11.93. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of -4.44 and a beta of 1.91. Cleveland-Cliffs Inc. has a 12-month low of $5.63 and a 12-month high of $16.70.

Cleveland-Cliffs Company 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.