Prime Capital Investment Advisors LLC Makes New Investment in Cleveland-Cliffs Inc. (NYSE:CLF)

Prime Capital Investment Advisors LLC acquired a new position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 20,598 shares of the mining company’s stock, valued at approximately $263,000.

Several other large investors have also recently added to or reduced their stakes in CLF. Altshuler Shaham Ltd bought a new stake in Cleveland-Cliffs during the second quarter worth about $26,000. Hobbs Group Advisors LLC bought a new stake in Cleveland-Cliffs during the second quarter worth about $31,000. Gradient Investments LLC grew its stake in Cleveland-Cliffs by 138.8% during the second quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock worth $33,000 after buying an additional 1,249 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Cleveland-Cliffs by 247.8% during the first quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock worth $43,000 after buying an additional 1,343 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in Cleveland-Cliffs during the first quarter worth about $45,000. 67.68% of the stock is owned by institutional investors.

Cleveland-Cliffs Trading Down 3.7 %

CLF opened at $11.04 on Monday. The firm’s fifty day moving average is $12.60 and its two-hundred day moving average is $14.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. The firm has a market cap of $5.45 billion, a PE ratio of -11.38 and a beta of 1.97. Cleveland-Cliffs Inc. has a twelve month low of $10.21 and a twelve month high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The firm had revenue of $4.57 billion during 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 revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter last year, the business posted $0.54 earnings per share. Equities research analysts anticipate that Cleveland-Cliffs Inc. will post -0.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CLF. Seaport Res Ptn raised shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Citigroup decreased their price target 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. Morgan Stanley decreased 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 research note on Wednesday, September 18th. Finally, StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.56.

About Cleveland-Cliffs

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.