ST. Nicholas Private Asset Management Inc. Takes $101,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

ST. Nicholas Private Asset Management Inc. bought a new stake in Cleveland-Cliffs Inc. (NYSE:CLF) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 10,700 shares of the mining company’s stock, valued at approximately $101,000.

A number of other hedge funds also recently modified their holdings of the business. Pacer Advisors Inc. raised its holdings in shares of Cleveland-Cliffs by 13.7% during the third quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock worth $330,665,000 after acquiring an additional 3,110,651 shares in the last quarter. Barclays PLC raised its holdings in shares of Cleveland-Cliffs by 232.4% during the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock worth $39,757,000 after acquiring an additional 2,176,837 shares in the last quarter. Stonegate Investment Group LLC purchased a new stake in shares of Cleveland-Cliffs during the fourth quarter worth $18,999,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Cleveland-Cliffs during the third quarter worth $22,122,000. Finally, International Assets Investment Management LLC raised its holdings 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 worth $156,800,000 after acquiring an additional 1,166,258 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CLF. B. Riley reiterated a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective for the company in a report on Tuesday, January 7th. StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Morgan Stanley cut their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, The Goldman Sachs Group began coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 target price on the stock. Three analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.68.

Cleveland-Cliffs Trading Down 5.3 %

Shares of NYSE:CLF opened at $11.35 on Friday. The company has a market cap of $5.60 billion, a P/E ratio of -11.70 and a beta of 1.96. The stock’s 50-day moving average is $10.22 and its 200-day moving average is $11.72. Cleveland-Cliffs Inc. has a 52-week low of $8.99 and a 52-week high of $22.97. 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 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.