HRT Financial LLC purchased a new stake in Cleveland-Cliffs Inc (NYSE:CLF) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,278 shares of the mining company’s stock, valued at approximately $196,000.

Other hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its position in shares of Cleveland-Cliffs by 1,248.2% in the second quarter. Tower Research Capital LLC TRC now owns 11,999 shares of the mining company’s stock valued at $101,000 after purchasing an additional 11,109 shares in the last quarter. Moors & Cabot Inc. grew its position in shares of Cleveland-Cliffs by 74.9% in the first quarter. Moors & Cabot Inc. now owns 18,795 shares of the mining company’s stock valued at $131,000 after purchasing an additional 8,050 shares in the last quarter. Trexquant Investment LP purchased a new position in Cleveland-Cliffs in the second quarter worth approximately $131,000. Baird Financial Group Inc. grew its position in Cleveland-Cliffs by 67.3% in the second quarter. Baird Financial Group Inc. now owns 18,643 shares of the mining company’s stock worth $157,000 after acquiring an additional 7,500 shares during the period. Finally, Cetera Advisor Networks LLC grew its position in Cleveland-Cliffs by 132.7% in the first quarter. Cetera Advisor Networks LLC now owns 23,583 shares of the mining company’s stock worth $164,000 after acquiring an additional 13,447 shares during the period. Institutional investors and hedge funds own 67.57% of the company’s stock.

Shares of Cleveland-Cliffs stock opened at $12.16 on Friday. The company has a market capitalization of $3.62 billion, a P/E ratio of 9.35 and a beta of 1.71. Cleveland-Cliffs Inc has a fifty-two week low of $5.60 and a fifty-two week high of $12.46. The company has a quick ratio of 2.72, a current ratio of 3.26 and a debt-to-equity ratio of -7.50.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Friday, July 20th. The mining company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.20. Cleveland-Cliffs had a negative return on equity of 76.39% and a net margin of 20.07%. The company had revenue of $714.00 million for the quarter, compared to analysts’ expectations of $653.75 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The firm’s revenue was up 51.6% compared to the same quarter last year. equities research analysts predict that Cleveland-Cliffs Inc will post 2.06 EPS for the current year.

Several research analysts recently weighed in on CLF shares. Jefferies Financial Group upgraded Cleveland-Cliffs to a “buy” rating and set a $13.00 price objective for the company in a research report on Friday, September 7th. Zacks Investment Research lowered Cleveland-Cliffs from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Morgan Stanley increased their price objective on Cleveland-Cliffs from $7.50 to $8.00 and gave the stock an “equal weight” rating in a research report on Friday, June 29th. ValuEngine lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, August 23rd. Finally, Citigroup increased their price objective on Cleveland-Cliffs from $11.00 to $12.00 and gave the stock a “$10.88” rating in a research report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $11.09.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota; and Koolyanobbing iron ore mining complex located in Western Australia. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific.

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Institutional Ownership by Quarter for Cleveland-Cliffs (NYSE:CLF)

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