5,000 Shares in Cleveland-Cliffs Inc. $CLF Acquired by Islay Capital Management LLC

Islay Capital Management LLC acquired a new stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) in the second quarter, HoldingsChannel reports. The firm acquired 5,000 shares of the mining company’s stock, valued at approximately $38,000.

Several other hedge funds also recently bought and sold shares of CLF. Trust Co. of Toledo NA OH bought a new stake in shares of Cleveland-Cliffs during the second quarter worth $27,000. Atwood & Palmer Inc. bought a new position in shares of Cleveland-Cliffs in the second quarter worth about $27,000. Winch Advisory Services LLC increased its stake in Cleveland-Cliffs by 131.3% in the 2nd quarter. Winch Advisory Services LLC now owns 4,070 shares of the mining company’s stock worth $31,000 after buying an additional 2,310 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Cleveland-Cliffs during the 1st quarter valued at about $36,000. Finally, Hantz Financial Services Inc. lifted its holdings in Cleveland-Cliffs by 86.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 8,072 shares of the mining company’s stock valued at $61,000 after buying an additional 3,738 shares in the last quarter. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Down 4.7%

NYSE CLF opened at $10.52 on Friday. Cleveland-Cliffs Inc. has a one year low of $5.63 and a one year high of $16.70. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.61 and a current ratio of 2.04. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of -3.09 and a beta of 2.07. The company’s 50-day simple moving average is $12.30 and its two-hundred day simple moving average is $9.98.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings results on Monday, October 20th. The mining company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.03. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Cleveland-Cliffs had a negative net margin of 9.00% and a negative return on equity of 20.02%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.33) EPS. Equities analysts forecast that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CLF has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on shares of Cleveland-Cliffs from $14.50 to $16.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Citigroup decreased their price target on shares of Cleveland-Cliffs from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday. Glj Research reiterated a “sell” rating and issued a $5.75 price target on shares of Cleveland-Cliffs in a report on Tuesday, October 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Cleveland-Cliffs in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on Cleveland-Cliffs from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.68.

Cleveland-Cliffs Company 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.