Patriot Financial Group Insurance Agency LLC Buys New Shares in Cleveland-Cliffs Inc. (NYSE:CLF)

Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Cleveland-Cliffs Inc. (NYSE:CLFFree Report) in the third quarter, HoldingsChannel reports. The fund purchased 11,957 shares of the mining company’s stock, valued at approximately $153,000.

Several other large investors have also added to or reduced their stakes in CLF. Dimensional Fund Advisors LP lifted its holdings in shares of Cleveland-Cliffs by 54.7% during the second quarter. Dimensional Fund Advisors LP now owns 15,906,597 shares of the mining company’s stock worth $244,794,000 after purchasing an additional 5,621,797 shares during the period. AQR Capital Management LLC lifted its stake in Cleveland-Cliffs by 49.9% during the 2nd quarter. AQR Capital Management LLC now owns 6,093,632 shares of the mining company’s stock valued at $93,172,000 after acquiring an additional 2,027,757 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Cleveland-Cliffs by 23.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,597,662 shares of the mining company’s stock valued at $86,148,000 after acquiring an additional 1,069,907 shares during the last quarter. Castle Hook Partners LP increased its stake in shares of Cleveland-Cliffs by 13.8% in the first quarter. Castle Hook Partners LP now owns 3,374,716 shares of the mining company’s stock worth $76,741,000 after acquiring an additional 410,182 shares during the period. Finally, Drexel Morgan & Co. raised its holdings in shares of Cleveland-Cliffs by 3.3% during the second quarter. Drexel Morgan & Co. now owns 3,083,995 shares of the mining company’s stock worth $47,463,000 after purchasing an additional 97,450 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Down 3.9 %

Shares of CLF stock opened at $13.18 on Thursday. Cleveland-Cliffs Inc. has a 1-year low of $10.21 and a 1-year high of $22.97. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 17.81 and a beta of 1.98. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.87 and a quick ratio of 0.60. The stock has a 50 day simple moving average of $12.67 and a 200-day simple moving average of $14.87.

Analyst Upgrades and Downgrades

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

Get Our Latest Analysis on CLF

Cleveland-Cliffs Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Cleveland-Cliffs (NYSE:CLF)

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