Cleveland-Cliffs Inc. (NYSE:CLF) Receives $16.43 Consensus Price Target from Analysts

Cleveland-Cliffs Inc. (NYSE:CLF) 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.

Insider Buying and Selling at Cleveland-Cliffs

In other Cleveland-Cliffs news, Director John T. Baldwin bought 4,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $8.70 per share, with a total value of $34,800.00. Following the completion of the transaction, the director now directly owns 133,227 shares in the company, valued at approximately $1,159,074.90. The trade was a 3.10 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Keith Koci bought 9,500 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $10.81 per share, with a total value of $102,695.00. Following the completion of the transaction, the executive vice president now owns 543,475 shares of the company’s stock, valued at $5,874,964.75. This represents a 1.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 23,500 shares of company stock valued at $243,095. Corporate insiders own 1.76% of the company’s stock.

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) 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.