Cleveland-Cliffs Inc. $CLF Stock Holdings Boosted by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 1,525.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 420,927 shares of the mining company’s stock after buying an additional 395,026 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.09% of Cleveland-Cliffs worth $5,135,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Trust Co. of Toledo NA OH acquired a new stake in Cleveland-Cliffs in the 2nd quarter valued at about $27,000. Winch Advisory Services LLC raised its holdings in shares of 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 purchasing an additional 2,310 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its stake in Cleveland-Cliffs by 72.6% during the third quarter. Deseret Mutual Benefit Administrators now owns 2,768 shares of the mining company’s stock valued at $34,000 after purchasing an additional 1,164 shares during the last quarter. Islay Capital Management LLC bought a new position in shares of Cleveland-Cliffs in the second quarter valued at $38,000. Finally, MTM Investment Management LLC acquired a new stake in shares of Cleveland-Cliffs during the 2nd quarter valued at $40,000. 67.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CLF shares. Citigroup reduced their target price on Cleveland-Cliffs from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Morgan Stanley raised shares of Cleveland-Cliffs from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $12.80 to $17.00 in a research note on Friday, January 9th. UBS Group set a $15.00 target price on shares of Cleveland-Cliffs in a research report on Monday, October 27th. JPMorgan Chase & Co. upped their price target on shares of Cleveland-Cliffs from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Finally, KeyCorp downgraded shares of Cleveland-Cliffs from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Cleveland-Cliffs presently has a consensus rating of “Hold” and a consensus target price of $13.80.

Cleveland-Cliffs Trading Up 5.2%

Shares of NYSE:CLF opened at $15.09 on Friday. Cleveland-Cliffs Inc. has a 12-month low of $5.63 and a 12-month high of $16.70. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $7.46 billion, a P/E ratio of -4.44 and a beta of 1.91. The firm has a fifty day moving average of $13.01 and a two-hundred day moving average of $11.93.

Cleveland-Cliffs Profile

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.