MFA Wealth Advisors LLC Buys Shares of 25,354 Cleveland-Cliffs Inc. $CLF

Key Points

• MFA Wealth Advisors LLC acquired 25,354 shares of Cleveland-Cliffs Inc., valued at approximately $193,000, indicating institutional interest in the mining company.
• Cleveland-Cliffs reported earnings of ($0.50) EPS for the most recent quarter, which was better than analysts' expectations of ($0.68), reflecting a 7.5% increase in revenue year-over-year.
• Analysts have mixed ratings on Cleveland-Cliffs, with a consensus price target of $11.24 and three analysts rating the stock as a Buy, while one has issued a Sell rating.

MFA Wealth Advisors LLC bought a new stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 25,354 shares of the mining company's stock, valued at approximately $193,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CLF. Atwood & Palmer Inc. purchased a new stake in shares of Cleveland-Cliffs during the second quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Cleveland-Cliffs during the first quarter valued at approximately $36,000. Fifth Third Bancorp grew its holdings in shares of 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 during the last quarter. Byrne Asset Management LLC grew its holdings in shares of 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 during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of 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 during the last quarter. Institutional investors own 67.68% of the company's stock.

Cleveland-Cliffs Stock Performance

Shares of NYSE CLF opened at $11.80 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.61 and a current ratio of 2.04. The company has a market cap of $5.84 billion, a P/E ratio of -3.46 and a beta of 1.93. The firm's fifty day moving average is $10.60 and its two-hundred day moving average is $8.86. Cleveland-Cliffs Inc. has a 52-week low of $5.63 and a 52-week high of $14.34.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its earnings results on Monday, July 21st. The mining company reported ($0.50) EPS for the quarter, beating 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 firm had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the prior year, the company earned $0.11 EPS. The company's quarterly revenue was up 7.5% compared to the same quarter last year. As a group, analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup increased their price target on shares of Cleveland-Cliffs from $7.50 to $11.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Morgan Stanley increased their price target on shares of Cleveland-Cliffs from $8.00 to $10.50 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Wells Fargo & Company raised their target price on shares of Cleveland-Cliffs from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, September 15th. Glj Research cut shares of Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 target price on the stock. in a report on Wednesday, May 28th. Finally, KeyCorp upgraded shares of Cleveland-Cliffs from a "sector weight" rating to an "overweight" rating and set a $14.00 target price on the stock in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target 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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