Cleveland-Cliffs Inc. $CLF Stock Position Lifted by Twelve Points Wealth Management LLC

Key Points

• Twelve Points Wealth Management LLC increased its stake in Cleveland-Cliffs Inc. by 15.1% during the second quarter, owning approximately 259,463 shares valued at around $1.97 million.
• Cleveland-Cliffs recently reported a quarterly earnings per share of ($0.50), outperforming analysts' expectations, with a 7.5% year-over-year revenue growth to $4.93 billion.
• Analyst ratings for Cleveland-Cliffs vary, with three analysts rating it as a Buy, and a consensus target price of approximately $11.24.

Twelve Points Wealth Management LLC boosted its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 15.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,463 shares of the mining company's stock after buying an additional 33,964 shares during the quarter. Twelve Points Wealth Management LLC owned 0.05% of Cleveland-Cliffs worth $1,972,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Atwood & Palmer Inc. bought a new position in Cleveland-Cliffs during the second quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Cleveland-Cliffs during the first quarter valued at about $36,000. Fifth Third Bancorp boosted its stake in Cleveland-Cliffs by 36.6% during the first quarter. Fifth Third Bancorp now owns 6,216 shares of the mining company's stock valued at $51,000 after buying an additional 1,664 shares in the last quarter. Byrne Asset Management LLC boosted its stake in Cleveland-Cliffs by 38.1% during the first quarter. Byrne Asset Management LLC now owns 6,353 shares of the mining company's stock valued at $52,000 after buying an additional 1,753 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Cleveland-Cliffs by 243.2% during the first quarter. UMB Bank n.a. now owns 7,873 shares of the mining company's stock valued at $65,000 after buying an additional 5,579 shares in the last quarter. Institutional investors own 67.68% of the company's stock.

Cleveland-Cliffs Stock Up 2.4%

CLF opened at $12.36 on Friday. Cleveland-Cliffs Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $14.34. The business has a 50-day moving average of $10.81 and a 200-day moving average of $8.94. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.04 and a quick ratio of 0.61. The company has a market capitalization of $6.11 billion, a PE ratio of -3.62 and a beta of 1.93.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The mining company reported ($0.50) earnings per share for the quarter, topping analysts' consensus estimates of ($0.68) by $0.18. Cleveland-Cliffs had a negative return on equity of 17.97% and a negative net margin of 9.03%.The company had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the business earned $0.11 EPS. The business's quarterly revenue was up 7.5% on a year-over-year basis. Equities research analysts forecast that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Analyst Ratings Changes

CLF has been the subject of several research reports. KeyCorp raised Cleveland-Cliffs from a "sector weight" rating to an "overweight" rating and set a $14.00 target price for the company in a research note on Tuesday, July 22nd. Morgan Stanley increased their price target on Cleveland-Cliffs from $8.00 to $10.50 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Citigroup increased their price target on Cleveland-Cliffs from $7.50 to $11.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. increased their price target on Cleveland-Cliffs from $7.50 to $10.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company increased their price target on Cleveland-Cliffs from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Monday, September 15th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $11.24.

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.

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