Cleveland-Cliffs Inc. (NYSE:CLF) Shares Acquired by Private Trust Co. NA

Private Trust Co. NA boosted its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 3.8% during the third quarter, Holdings Channel.com reports. The fund owned 40,531 shares of the mining company’s stock after purchasing an additional 1,500 shares during the quarter. Private Trust Co. NA’s holdings in Cleveland-Cliffs were worth $518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Altus Wealth Group LLC grew its position in shares of Cleveland-Cliffs by 7.2% in the third quarter. Altus Wealth Group LLC now owns 11,900 shares of the mining company’s stock valued at $152,000 after purchasing an additional 800 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Cleveland-Cliffs by 7.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 13,066 shares of the mining company’s stock worth $201,000 after buying an additional 949 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Cleveland-Cliffs by 2.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 40,118 shares of the mining company’s stock valued at $879,000 after acquiring an additional 984 shares during the last quarter. Clear Creek Financial Management LLC lifted its position in shares of Cleveland-Cliffs by 6.9% in the second quarter. Clear Creek Financial Management LLC now owns 15,450 shares of the mining company’s stock valued at $238,000 after acquiring an additional 1,000 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Cleveland-Cliffs by 16.2% in the second quarter. National Bank of Canada FI now owns 8,428 shares of the mining company’s stock worth $129,000 after acquiring an additional 1,173 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Up 0.8 %

CLF stock opened at $12.15 on Thursday. Cleveland-Cliffs Inc. has a one year low of $10.21 and a one year high of $22.97. The firm has a market cap of $6.00 billion, a PE ratio of -12.52 and a beta of 1.97. The firm’s 50 day moving average price is $12.66 and its 200-day moving average price is $13.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly 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). The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The business’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same period last year, the company earned $0.54 EPS. On average, equities research analysts anticipate that Cleveland-Cliffs Inc. will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

CLF has been the subject of several recent research reports. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Morgan Stanley decreased their price target on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Citigroup decreased their target price on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cleveland-Cliffs has a consensus rating of “Hold” and an average target price of $17.56.

Cleveland-Cliffs 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.