Cleveland-Cliffs Inc. (NYSE:CLF – Get Free Report) has been assigned an average rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $16.43.
Several equities analysts recently issued reports on CLF shares. B. Riley restated a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. The Goldman Sachs Group dropped their target price on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Morgan Stanley dropped 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 report on Monday, February 3rd. Glj Research dropped their target price on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Citigroup dropped their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th.
View Our Latest Research Report on Cleveland-Cliffs
Insider Buying and Selling at Cleveland-Cliffs
Institutional Investors Weigh In On Cleveland-Cliffs
Institutional investors have recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC grew its position in Cleveland-Cliffs by 299.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after purchasing an additional 1,490 shares in the last quarter. Pinpoint Asset Management Ltd bought a new stake in Cleveland-Cliffs in the 4th quarter worth about $25,000. Truvestments Capital LLC bought a new stake in Cleveland-Cliffs in the 3rd quarter worth about $34,000. Darwin Wealth Management LLC bought a new stake in Cleveland-Cliffs in the 3rd quarter worth about $34,000. Finally, Estabrook Capital Management grew its position in Cleveland-Cliffs by 207.7% in the 4th quarter. Estabrook Capital Management now owns 4,000 shares of the mining company’s stock worth $38,000 after purchasing an additional 2,700 shares in the last quarter. 67.68% of the stock is owned by institutional investors.
Cleveland-Cliffs Price Performance
Shares of NYSE:CLF opened at $10.42 on Tuesday. The firm has a market cap of $5.15 billion, a PE ratio of -10.74 and a beta of 1.94. The firm’s fifty day moving average is $10.40 and its 200-day moving average is $11.41. 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 has a 52 week low of $8.50 and a 52 week high of $22.97.
Cleveland-Cliffs (NYSE:CLF – Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The mining company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.03). The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.46 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. Sell-side analysts predict that Cleveland-Cliffs will post -0.79 earnings per share for the current year.
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.
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