Arkadios Wealth Advisors Has $642,000 Stock Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Arkadios Wealth Advisors boosted its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 31.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,251 shares of the mining company’s stock after buying an additional 16,300 shares during the quarter. Arkadios Wealth Advisors’ holdings in Cleveland-Cliffs were worth $642,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CLF. Pacer Advisors Inc. boosted its position in shares of Cleveland-Cliffs by 13.7% in the third quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock valued at $330,665,000 after acquiring an additional 3,110,651 shares during the period. AQR Capital Management LLC raised its stake in Cleveland-Cliffs by 49.9% during the 2nd quarter. AQR Capital Management LLC now owns 6,093,632 shares of the mining company’s stock valued at $93,172,000 after purchasing an additional 2,027,757 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Cleveland-Cliffs by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,751,153 shares of the mining company’s stock valued at $47,902,000 after purchasing an additional 121,389 shares during the period. Drexel Morgan & Co. grew its position in Cleveland-Cliffs by 3.8% in the 3rd quarter. Drexel Morgan & Co. now owns 3,200,395 shares of the mining company’s stock worth $40,869,000 after purchasing an additional 116,400 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Cleveland-Cliffs by 232.4% during the 3rd quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock worth $39,757,000 after purchasing an additional 2,176,837 shares during the period. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Price Performance

NYSE:CLF opened at $10.10 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The firm has a market cap of $4.99 billion, a PE ratio of -10.41 and a beta of 1.97. Cleveland-Cliffs Inc. has a 12 month low of $8.99 and a 12 month high of $22.97. The company’s 50-day moving average price is $10.75 and its two-hundred day moving average price is $12.41.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.02). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s revenue was down 18.5% compared to the same quarter last year. On average, equities analysts anticipate that Cleveland-Cliffs Inc. will post -0.67 EPS for the current fiscal year.

Analyst Ratings Changes

CLF has been the subject of several research reports. Citigroup reduced their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group assumed coverage on Cleveland-Cliffs in a research report on Monday, December 2nd. They issued a “buy” rating and a $16.00 price objective for the company. Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com cut 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, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $16.93.

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.