California Public Employees Retirement System increased its position in shares of Cleveland-Cliffs Inc (NYSE:CLF) by 10.4% during the 4th quarter, Holdings Channel reports. The fund owned 1,864,984 shares of the mining company’s stock after acquiring an additional 175,516 shares during the quarter. California Public Employees Retirement System’s holdings in Cleveland-Cliffs were worth $13,447,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp raised its holdings in Cleveland-Cliffs by 6.5% in the 2nd quarter. State Street Corp now owns 10,720,937 shares of the mining company’s stock valued at $74,189,000 after buying an additional 653,261 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Cleveland-Cliffs by 8.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,692,922 shares of the mining company’s stock valued at $12,206,000 after buying an additional 128,419 shares during the period. Creative Planning raised its holdings in Cleveland-Cliffs by 38.8% in the 4th quarter. Creative Planning now owns 1,219,824 shares of the mining company’s stock valued at $8,795,000 after buying an additional 341,254 shares during the period. James Investment Research Inc. raised its holdings in Cleveland-Cliffs by 27.9% in the 4th quarter. James Investment Research Inc. now owns 786,838 shares of the mining company’s stock valued at $5,673,000 after buying an additional 171,817 shares during the period. Finally, APG Asset Management N.V. purchased a new stake in Cleveland-Cliffs in the 4th quarter valued at about $4,002,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.
Shares of Cleveland-Cliffs Inc (NYSE CLF) opened at $7.49 on Monday. The company has a debt-to-equity ratio of -5.19, a quick ratio of 2.80 and a current ratio of 3.42. The stock has a market cap of $2,230.00, a PE ratio of -83.22 and a beta of 1.58. Cleveland-Cliffs Inc has a one year low of $5.56 and a one year high of $11.27.
CLF has been the topic of several research analyst reports. Credit Suisse Group upgraded shares of Cleveland-Cliffs from an “underperform” rating to an “outperform” rating in a report on Wednesday, February 7th. B. Riley restated a “buy” rating and issued a $11.00 price objective on shares of Cleveland-Cliffs in a report on Friday, January 26th. Zacks Investment Research upgraded shares of Cleveland-Cliffs from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a report on Thursday, January 4th. ValuEngine lowered shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Vertical Group initiated coverage on shares of Cleveland-Cliffs in a report on Friday, January 19th. They issued a “sell” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.63.
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Cleveland-Cliffs Company Profile
Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.
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