GSA Capital Partners LLP purchased a new stake in shares of Cleveland-Cliffs Inc (NYSE:CLF) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 167,128 shares of the mining company’s stock, valued at approximately $1,195,000. GSA Capital Partners LLP owned approximately 0.06% of Cleveland-Cliffs as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Comerica Bank raised its stake in shares of Cleveland-Cliffs by 49.5% in the second quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock worth $116,000 after purchasing an additional 5,129 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in Cleveland-Cliffs during the second quarter valued at $128,000. D.A. Davidson & CO. increased its position in Cleveland-Cliffs by 486.8% during the second quarter. D.A. Davidson & CO. now owns 18,597 shares of the mining company’s stock valued at $128,000 after acquiring an additional 15,428 shares during the last quarter. HighTower Advisors LLC increased its position in Cleveland-Cliffs by 19.0% during the second quarter. HighTower Advisors LLC now owns 19,092 shares of the mining company’s stock valued at $133,000 after acquiring an additional 3,046 shares during the last quarter. Finally, Sei Investments Co. increased its position in Cleveland-Cliffs by 25.0% during the second quarter. Sei Investments Co. now owns 22,277 shares of the mining company’s stock valued at $153,000 after acquiring an additional 4,458 shares during the last quarter. Institutional investors own 56.74% of the company’s stock.
A number of analysts have commented on CLF shares. B. Riley restated a “buy” rating and issued a $11.00 price target (up previously from $10.00) on shares of Cleveland-Cliffs in a research report on Friday, January 5th. Zacks Investment Research lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. ValuEngine lowered Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. FBR & Co reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Cleveland-Cliffs in a research note on Friday, October 20th. Finally, KeyCorp reissued a “hold” rating on shares of Cleveland-Cliffs in a research note on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Cleveland-Cliffs presently has a consensus rating of “Hold” and an average price target of $8.82.
Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Friday, October 20th. The mining company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.06. The firm had revenue of $698.00 million for the quarter, compared to the consensus estimate of $669.25 million. Cleveland-Cliffs had a negative return on equity of 29.06% and a net margin of 5.48%. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) earnings per share. research analysts expect that Cleveland-Cliffs Inc will post 0.68 EPS for the current year.
WARNING: This story was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this story on another domain, it was stolen and reposted in violation of United States and international trademark and copyright laws. The original version of this story can be accessed at https://stocknewstimes.com/2018/01/13/gsa-capital-partners-llp-acquires-new-holdings-in-cleveland-cliffs-inc-clf.html.
Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.
Receive News & Ratings for Cleveland-Cliffs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cleveland-Cliffs and related companies with MarketBeat.com's FREE daily email newsletter.