D.B. Root & Company LLC Invests $95,000 in Cleveland-Cliffs Inc. (NYSE:CLF)

D.B. Root & Company LLC bought a new stake in Cleveland-Cliffs Inc. (NYSE:CLF) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,100 shares of the mining company’s stock, valued at approximately $95,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC grew its stake in shares of Cleveland-Cliffs by 299.8% during the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after purchasing an additional 1,490 shares during the period. Darwin Wealth Management LLC bought a new position in Cleveland-Cliffs during the 3rd quarter worth about $34,000. Truvestments Capital LLC bought a new position in shares of Cleveland-Cliffs during the third quarter worth about $34,000. Blue Trust Inc. raised its holdings in shares of Cleveland-Cliffs by 231.9% in the third quarter. Blue Trust Inc. now owns 3,634 shares of the mining company’s stock valued at $46,000 after purchasing an additional 2,539 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Cleveland-Cliffs by 1,190.6% in the 4th quarter. GAMMA Investing LLC now owns 5,330 shares of the mining company’s stock valued at $50,000 after buying an additional 4,917 shares during the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $9.96 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. Cleveland-Cliffs Inc. has a one year low of $8.99 and a one year high of $22.97. The company has a market cap of $4.92 billion, a price-to-earnings ratio of -10.26 and a beta of 1.97. The firm has a 50 day simple moving average of $10.67 and a 200 day simple moving average of $12.38.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.02). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. Research analysts predict that Cleveland-Cliffs Inc. will post -0.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CLF. The Goldman Sachs Group initiated coverage on Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 price target on the stock. Citigroup lowered their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Glj Research upgraded shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price target for the company in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.93.

About Cleveland-Cliffs

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.