Capstone Financial Advisors Inc. Takes $121,000 Position in Cleveland-Cliffs Inc. $CLF

Capstone Financial Advisors Inc. acquired a new stake in Cleveland-Cliffs Inc. (NYSE:CLF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,950 shares of the mining company’s stock, valued at approximately $121,000.

A number of other institutional investors also recently bought and sold shares of the company. Kaizen Financial Strategies acquired a new position in Cleveland-Cliffs in the 2nd quarter valued at about $88,000. Police & Firemen s Retirement System of New Jersey raised its position in shares of Cleveland-Cliffs by 4.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 183,936 shares of the mining company’s stock valued at $1,398,000 after buying an additional 7,289 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Cleveland-Cliffs by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 297,128 shares of the mining company’s stock valued at $2,258,000 after buying an additional 1,399 shares during the period. Winch Advisory Services LLC lifted its holdings in Cleveland-Cliffs by 131.3% in the second quarter. Winch Advisory Services LLC now owns 4,070 shares of the mining company’s stock valued at $31,000 after acquiring an additional 2,310 shares during the last quarter. Finally, Keynote Financial Services LLC lifted its holdings in Cleveland-Cliffs by 50.9% in the second quarter. Keynote Financial Services LLC now owns 123,159 shares of the mining company’s stock valued at $936,000 after acquiring an additional 41,568 shares during the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CLF has been the subject of several recent analyst reports. KeyCorp cut their target price on Cleveland-Cliffs from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday. UBS Group set a $15.00 price objective on Cleveland-Cliffs in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a research report on Thursday, October 30th. Glj Research reaffirmed a “sell” rating and set a $5.75 target price on shares of Cleveland-Cliffs in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $11.00 price target on shares of Cleveland-Cliffs in a research note on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.68.

Cleveland-Cliffs Price Performance

CLF opened at $10.52 on Friday. The stock’s 50-day moving average price is $12.30 and its 200 day moving average price is $9.98. Cleveland-Cliffs Inc. has a 12-month low of $5.63 and a 12-month high of $16.70. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of -3.09 and a beta of 2.07. The company has a current ratio of 2.04, a quick ratio of 0.61 and a debt-to-equity ratio of 1.41.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Monday, October 20th. The mining company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.03. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.90 billion. Cleveland-Cliffs had a negative net margin of 9.00% and a negative return on equity of 20.02%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.33) earnings per share. As a group, sell-side analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share 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.