Courier Capital LLC Has $482,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Courier Capital LLC lowered its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 6.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,747 shares of the mining company’s stock after selling 2,461 shares during the quarter. Courier Capital LLC’s holdings in Cleveland-Cliffs were worth $482,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CLF. Atlas Capital Advisors LLC bought a new stake in shares of Cleveland-Cliffs in the first quarter valued at approximately $69,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Cleveland-Cliffs by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,053 shares of the mining company’s stock valued at $570,000 after acquiring an additional 476 shares during the period. 180 Wealth Advisors LLC boosted its position in shares of Cleveland-Cliffs by 2.0% in the first quarter. 180 Wealth Advisors LLC now owns 58,692 shares of the mining company’s stock valued at $1,335,000 after acquiring an additional 1,146 shares during the period. D.B. Root & Company LLC bought a new stake in shares of Cleveland-Cliffs in the first quarter valued at approximately $205,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of Cleveland-Cliffs by 41.7% in the first quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock valued at $39,000 after acquiring an additional 500 shares during the period. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Up 2.3 %

Shares of Cleveland-Cliffs stock opened at $13.30 on Friday. Cleveland-Cliffs Inc. has a 1 year low of $10.21 and a 1 year high of $22.97. The company has a current ratio of 1.87, a quick ratio of 0.60 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $6.32 billion, a PE ratio of 17.97 and a beta of 1.98. The firm’s 50 day moving average is $12.62 and its 200 day moving average is $15.15.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Monday, July 22nd. The mining company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.18 billion. Cleveland-Cliffs had a net margin of 0.21% and a return on equity of 4.94%. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 EPS. Equities research analysts forecast that Cleveland-Cliffs Inc. will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CLF has been the subject of several research reports. Citigroup reduced their price objective on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Morgan Stanley decreased 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 note on Wednesday, September 18th. Finally, 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.56.

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.