Cleveland-Cliffs Inc. (NYSE:CLF) Shares Purchased by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC raised its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 16.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 31,999 shares of the mining company’s stock after acquiring an additional 4,634 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Cleveland-Cliffs were worth $492,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Rise Advisors LLC increased its stake in Cleveland-Cliffs by 2,858.0% in the first quarter. Rise Advisors LLC now owns 1,479 shares of the mining company’s stock valued at $34,000 after purchasing an additional 1,429 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Cleveland-Cliffs by 41.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock valued at $39,000 after acquiring an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Cleveland-Cliffs by 247.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock worth $43,000 after acquiring an additional 1,343 shares during the period. LRI Investments LLC acquired a new stake in shares of Cleveland-Cliffs in the first quarter worth approximately $45,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Cleveland-Cliffs in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

Cleveland-Cliffs stock opened at $11.13 on Thursday. The firm has a market capitalization of $5.29 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 6.73 and a beta of 1.97. Cleveland-Cliffs Inc. has a one year low of $10.21 and a one year high of $22.97. The stock’s 50 day moving average price is $13.89 and its 200 day moving average price is $16.95. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.60 and a current ratio of 1.87.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Monday, July 22nd. The mining company reported $0.11 EPS for the quarter. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Cleveland-Cliffs had a net margin of 0.21% and a return on equity of 4.94%. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. As a group, sell-side analysts expect that Cleveland-Cliffs Inc. will post 0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Cleveland-Cliffs in a research note on Monday, May 20th. They set a “buy” rating and a $22.00 price target on the stock. JPMorgan Chase & Co. lowered Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $17.00 in a research report on Tuesday, June 11th. B. Riley reissued a “buy” rating and set a $23.00 price target on shares of Cleveland-Cliffs in a research report on Tuesday, June 25th. Seaport Res Ptn upgraded Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Citigroup decreased their target price on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cleveland-Cliffs presently has a consensus rating of “Hold” and an average price target of $17.75.

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.