Private Trust Co. NA Buys 1,500 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Private Trust Co. NA lifted its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CLF. Dimensional Fund Advisors LP raised its stake in shares of Cleveland-Cliffs by 54.7% in the second quarter. Dimensional Fund Advisors LP now owns 15,906,597 shares of the mining company’s stock worth $244,794,000 after purchasing an additional 5,621,797 shares during the last quarter. Pacer Advisors Inc. raised its position in Cleveland-Cliffs by 13.7% in the 3rd quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock worth $330,665,000 after buying an additional 3,110,651 shares during the last quarter. AQR Capital Management LLC lifted its stake in Cleveland-Cliffs by 49.9% during the 2nd quarter. AQR Capital Management LLC now owns 6,093,632 shares of the mining company’s stock valued at $93,172,000 after acquiring an additional 2,027,757 shares during the period. International Assets Investment Management LLC boosted its holdings in Cleveland-Cliffs by 1,893.6% in the third quarter. International Assets Investment Management LLC now owns 1,227,848 shares of the mining company’s stock worth $156,800,000 after purchasing an additional 1,166,258 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Cleveland-Cliffs by 23.6% in the second quarter. Bank of New York Mellon Corp now owns 5,597,662 shares of the mining company’s stock valued at $86,148,000 after acquiring an additional 1,069,907 shares during the period. 67.68% of the stock is currently owned by institutional investors.

Cleveland-Cliffs Stock Performance

Shares of CLF stock opened at $12.15 on Thursday. The stock has a market cap of $6.00 billion, a PE ratio of -12.52 and a beta of 1.97. Cleveland-Cliffs Inc. has a 52-week low of $10.21 and a 52-week high of $22.97. The business has a 50-day simple moving average of $12.66 and a 200-day simple moving average of $13.99. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.02). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same period last year, the firm earned $0.54 earnings per share. Cleveland-Cliffs’s revenue for the quarter was down 18.5% compared to the same quarter last year. On average, equities analysts expect that Cleveland-Cliffs Inc. will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Citigroup decreased their price target 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. Morgan Stanley reduced their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Finally, StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Three 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.56.

About Cleveland-Cliffs

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.