Dorsey & Whitney Trust CO LLC Acquires 5,292 Shares of Cleveland-Cliffs Inc. $CLF

Dorsey & Whitney Trust CO LLC boosted its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 13.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,161 shares of the mining company’s stock after purchasing an additional 5,292 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Cleveland-Cliffs were worth $336,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rothschild Investment LLC boosted its position in shares of Cleveland-Cliffs by 8.8% in the 2nd quarter. Rothschild Investment LLC now owns 131,484 shares of the mining company’s stock worth $999,000 after purchasing an additional 10,585 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Cleveland-Cliffs by 1.6% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 132,670 shares of the mining company’s stock valued at $1,008,000 after buying an additional 2,050 shares during the last quarter. MTM Investment Management LLC purchased a new position in Cleveland-Cliffs during the second quarter valued at $40,000. Collaborative Wealth Managment Inc. boosted its holdings in Cleveland-Cliffs by 48.1% in the second quarter. Collaborative Wealth Managment Inc. now owns 44,875 shares of the mining company’s stock worth $341,000 after acquiring an additional 14,580 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Cleveland-Cliffs by 297.3% in the second quarter. SG Americas Securities LLC now owns 538,735 shares of the mining company’s stock worth $4,094,000 after acquiring an additional 403,148 shares during the last quarter. Institutional investors own 67.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. UBS Group set a $15.00 price target on Cleveland-Cliffs in a report on Monday, October 27th. Citigroup reduced their price objective on shares of Cleveland-Cliffs from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Thursday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Cleveland-Cliffs from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. Finally, The Goldman Sachs Group increased their price target on shares of Cleveland-Cliffs from $14.50 to $16.00 and gave the company a “buy” rating in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.78.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $11.25 on Thursday. Cleveland-Cliffs Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $16.70. The business has a 50-day simple moving average of $12.29 and a two-hundred day simple moving average of $10.06. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.61 and a current ratio of 2.04. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of -3.31 and a beta of 2.07.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings results 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. Cleveland-Cliffs had a negative net margin of 9.00% and a negative return on equity of 20.02%. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the firm posted ($0.33) EPS. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

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.