180 Wealth Advisors LLC Has $657,000 Position in Cleveland-Cliffs Inc. $CLF

180 Wealth Advisors LLC raised its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 36.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 86,508 shares of the mining company’s stock after purchasing an additional 23,084 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Cleveland-Cliffs were worth $657,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CLF. Brookstone Capital Management boosted its holdings in shares of Cleveland-Cliffs by 27.8% during the 2nd quarter. Brookstone Capital Management now owns 14,130 shares of the mining company’s stock valued at $107,000 after acquiring an additional 3,070 shares in the last quarter. D.A. Davidson & CO. grew its position in Cleveland-Cliffs by 48.0% during the 2nd quarter. D.A. Davidson & CO. now owns 268,452 shares of the mining company’s stock worth $2,040,000 after acquiring an additional 87,102 shares during the last quarter. Beech Hill Advisors Inc. grew its position in Cleveland-Cliffs by 13.7% during the 2nd quarter. Beech Hill Advisors Inc. now owns 77,000 shares of the mining company’s stock worth $585,000 after acquiring an additional 9,300 shares during the last quarter. Cidel Asset Management Inc. grew its position in Cleveland-Cliffs by 40.7% during the 2nd quarter. Cidel Asset Management Inc. now owns 15,248 shares of the mining company’s stock worth $116,000 after acquiring an additional 4,412 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Cleveland-Cliffs by 36.0% in the 2nd quarter. International Assets Investment Management LLC now owns 204,934 shares of the mining company’s stock valued at $1,557,000 after buying an additional 54,235 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

CLF stock opened at $13.13 on Friday. The business has a 50 day moving average of $12.00 and a 200-day moving average of $9.56. Cleveland-Cliffs Inc. has a 12-month low of $5.63 and a 12-month high of $16.70. The firm has a market cap of $6.49 billion, a PE ratio of -3.86 and a beta of 1.96. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.41.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, October 20th. The mining company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.03. Cleveland-Cliffs had a negative return on equity of 20.02% and a negative net margin of 9.00%.The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the company earned ($0.33) earnings per share. Cleveland-Cliffs’s revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Glj Research reissued a “sell” rating and issued a $5.75 price objective on shares of Cleveland-Cliffs in a research note on Tuesday. Citigroup boosted their price objective on Cleveland-Cliffs from $7.50 to $11.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. KeyCorp raised Cleveland-Cliffs from a “sector weight” rating to an “overweight” rating and set a $14.00 price target on the stock in a research note on Tuesday, July 22nd. Wells Fargo & Company reaffirmed an “underweight” rating and set a $11.00 price target on shares of Cleveland-Cliffs in a research note on Tuesday. Finally, The Goldman Sachs Group upped their price target on Cleveland-Cliffs from $12.85 to $14.50 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.36.

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.