Yousif Capital Management LLC Has $1.44 Million Stake in Cleveland-Cliffs Inc. $CLF

Yousif Capital Management LLC lifted its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 2.2% during the second quarter, Holdings Channel.com reports. The firm owned 188,904 shares of the mining company’s stock after buying an additional 4,088 shares during the period. Yousif Capital Management LLC’s holdings in Cleveland-Cliffs were worth $1,436,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Woodline Partners LP bought a new stake in shares of Cleveland-Cliffs during the first quarter worth $22,696,000. Jump Financial LLC increased its position in Cleveland-Cliffs by 362.5% in the first quarter. Jump Financial LLC now owns 3,000,102 shares of the mining company’s stock worth $24,661,000 after purchasing an additional 2,351,372 shares during the period. Allianz Asset Management GmbH increased its position in Cleveland-Cliffs by 168.8% in the first quarter. Allianz Asset Management GmbH now owns 3,555,383 shares of the mining company’s stock worth $29,225,000 after purchasing an additional 2,232,799 shares during the period. Nuveen LLC acquired a new stake in Cleveland-Cliffs in the first quarter worth about $9,416,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Cleveland-Cliffs by 231.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,561,774 shares of the mining company’s stock worth $12,838,000 after purchasing an additional 1,090,237 shares during the period. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on CLF. KeyCorp upgraded Cleveland-Cliffs from a “sector weight” rating to an “overweight” rating and set a $14.00 price objective for the company 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 note on Monday, July 21st. The Goldman Sachs Group increased their price target on Cleveland-Cliffs from $12.85 to $14.50 and gave the company a “buy” rating in a research note on Thursday, October 9th. Morgan Stanley upped their price objective on Cleveland-Cliffs from $8.00 to $10.50 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Cleveland-Cliffs from $10.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.93.

Cleveland-Cliffs Stock Up 21.6%

Shares of NYSE CLF opened at $16.20 on Tuesday. The stock has a market cap of $8.01 billion, a P/E ratio of -4.75 and a beta of 1.96. The firm has a 50 day moving average price of $11.78 and a 200 day moving average price of $9.42. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.61 and a current ratio of 2.04. Cleveland-Cliffs Inc. has a 52-week low of $5.63 and a 52-week high of $16.70.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Monday, October 20th. The mining company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.03. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Cleveland-Cliffs had a negative net margin of 9.03% and a negative return on equity of 17.97%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.33) earnings per share. Analysts expect that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

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.