Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by JB Capital LLC

JB Capital LLC reduced its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 12.5% during the 3rd quarter, Holdings Channel reports. The fund owned 87,202 shares of the mining company’s stock after selling 12,498 shares during the period. JB Capital LLC’s holdings in Cleveland-Cliffs were worth $1,114,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Cleveland-Cliffs by 54.7% in the 2nd 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 holdings in Cleveland-Cliffs by 49.9% in the 2nd quarter. AQR Capital Management LLC now owns 6,093,632 shares of the mining company’s stock worth $93,172,000 after buying an additional 2,027,757 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Cleveland-Cliffs by 1,893.6% during the third quarter. International Assets Investment Management LLC now owns 1,227,848 shares of the mining company’s stock valued at $156,800,000 after acquiring an additional 1,166,258 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Cleveland-Cliffs by 23.6% in the second quarter. Bank of New York Mellon Corp now owns 5,597,662 shares of the mining company’s stock worth $86,148,000 after acquiring an additional 1,069,907 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its holdings in Cleveland-Cliffs by 1,650.8% in the second quarter. WINTON GROUP Ltd now owns 874,464 shares of the mining company’s stock valued at $13,458,000 after purchasing an additional 824,518 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Price Performance

CLF traded down $0.41 during midday trading on Thursday, reaching $13.53. 5,498,881 shares of the company’s stock were exchanged, compared to its average volume of 10,103,988. Cleveland-Cliffs Inc. has a one year low of $10.21 and a one year high of $22.97. The company has a quick ratio of 0.60, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. The business has a 50-day simple moving average of $12.63 and a two-hundred day simple moving average of $14.58. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of -14.37 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). Cleveland-Cliffs had a return on equity of 4.94% and a net margin of 0.21%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter last year, the business posted $0.54 EPS. Cleveland-Cliffs’s quarterly revenue was down 18.5% on a year-over-year basis. As a group, research analysts predict that Cleveland-Cliffs Inc. will post -0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

CLF has been the topic of a number of recent analyst reports. Citigroup cut their target price on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 10th. Seaport Res Ptn upgraded Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Morgan Stanley decreased their price target 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 analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cleveland-Cliffs has an average rating of “Hold” and a consensus target price of $17.56.

Cleveland-Cliffs Company Profile

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.