Centaurus Financial Inc. Has $280,000 Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

Centaurus Financial Inc. lowered its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 7.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,950 shares of the mining company’s stock after selling 1,865 shares during the quarter. Centaurus Financial Inc.’s holdings in Cleveland-Cliffs were worth $280,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CLF. Price T Rowe Associates Inc. MD lifted its stake in Cleveland-Cliffs by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,884,249 shares of the mining company’s stock valued at $65,589,000 after acquiring an additional 275,265 shares during the last quarter. LRI Investments LLC acquired a new stake in Cleveland-Cliffs in the first quarter valued at $45,000. Swedbank AB bought a new position in shares of Cleveland-Cliffs in the first quarter valued at about $1,934,000. Cetera Investment Advisers raised its position in shares of Cleveland-Cliffs by 316.1% in the first quarter. Cetera Investment Advisers now owns 318,990 shares of the mining company’s stock valued at $7,254,000 after purchasing an additional 242,332 shares during the period. Finally, Cetera Advisors LLC raised its position in shares of Cleveland-Cliffs by 27.7% in the first quarter. Cetera Advisors LLC now owns 50,839 shares of the mining company’s stock valued at $1,156,000 after purchasing an additional 11,021 shares during the period. Institutional investors and hedge funds own 67.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Seaport Res Ptn raised shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Citigroup dropped their price objective on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. Finally, StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.56.

Cleveland-Cliffs Price Performance

NYSE:CLF opened at $12.15 on Thursday. Cleveland-Cliffs Inc. has a 52 week low of $10.21 and a 52 week high of $22.97. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of -12.52 and a beta of 1.97. The firm’s 50-day simple moving average is $12.66 and its 200 day simple moving average is $13.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data 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). The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.72 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The company’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 earnings per share. As a group, sell-side analysts predict that Cleveland-Cliffs Inc. will post -0.4 earnings per share for the current year.

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.