Kornitzer Capital Management Inc. KS Trims Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Kornitzer Capital Management Inc. KS trimmed its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 13.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 111,075 shares of the mining company’s stock after selling 17,330 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Cleveland-Cliffs were worth $1,044,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CLF. Pacer Advisors Inc. grew its position in Cleveland-Cliffs by 13.7% during the 3rd quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock valued at $330,665,000 after purchasing an additional 3,110,651 shares during the last quarter. Barclays PLC grew its position in Cleveland-Cliffs by 232.4% during the 3rd quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock valued at $39,757,000 after purchasing an additional 2,176,837 shares during the last quarter. Stonegate Investment Group LLC purchased a new stake in Cleveland-Cliffs during the 4th quarter valued at about $18,999,000. Rockefeller Capital Management L.P. purchased a new stake in Cleveland-Cliffs during the 3rd quarter valued at about $22,122,000. Finally, International Assets Investment Management LLC grew its position in Cleveland-Cliffs by 1,893.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,227,848 shares of the mining company’s stock valued at $156,800,000 after purchasing an additional 1,166,258 shares during the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $11.89 on Thursday. The firm’s 50 day moving average price is $10.17 and its 200-day moving average price is $11.74. Cleveland-Cliffs Inc. has a twelve month low of $8.99 and a twelve month high of $22.97. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $5.87 billion, a PE ratio of -12.25 and a beta of 1.96.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Citigroup lowered their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group assumed coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 target price on the stock. Glj Research upgraded shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price on the stock in a research note on Tuesday, January 7th. StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley lowered their target price on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $16.68.

Cleveland-Cliffs Company Profile

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.