Cleveland-Cliffs (NYSE:CLF) Upgraded at StockNews.com

StockNews.com upgraded shares of Cleveland-Cliffs (NYSE:CLF) from a hold rating to a buy rating in a research report released on Thursday.

Several other analysts have also weighed in on CLF. TheStreet lowered shares of Cleveland-Cliffs from a b- rating to a c rating in a report on Tuesday, January 30th. Morgan Stanley reaffirmed an equal weight rating and issued a $20.00 price objective on shares of Cleveland-Cliffs in a research note on Tuesday, March 26th. BNP Paribas cut shares of Cleveland-Cliffs from a neutral rating to an underperform rating and set a $16.50 price objective on the stock. in a research note on Wednesday, February 28th. Wolfe Research reissued an underperform rating and set a $18.00 price target on shares of Cleveland-Cliffs in a research report on Tuesday, April 9th. Finally, Citigroup cut shares of Cleveland-Cliffs from a buy rating to a neutral rating and set a $22.00 price target on the stock. in a research report on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Cleveland-Cliffs presently has a consensus rating of Hold and an average price target of $19.92.

Cleveland-Cliffs Stock Down 1.8 %

Shares of CLF opened at $20.83 on Thursday. Cleveland-Cliffs has a 52 week low of $13.61 and a 52 week high of $22.97. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 1.89. The firm has a market capitalization of $9.90 billion, a P/E ratio of 27.05, a P/E/G ratio of 0.74 and a beta of 2.03. The company has a 50-day simple moving average of $20.93 and a 200-day simple moving average of $18.85.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Tuesday, January 30th. The mining company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.16 billion. Cleveland-Cliffs had a net margin of 1.81% and a return on equity of 6.79%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.30) earnings per share. On average, equities research analysts expect that Cleveland-Cliffs will post 1.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Arlene M. Yocum acquired 2,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were bought at an average cost of $20.02 per share, for a total transaction of $40,040.00. Following the purchase, the director now directly owns 94,887 shares of the company’s stock, valued at $1,899,637.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Terry G. Fedor sold 27,430 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $20.19, for a total value of $553,811.70. Following the transaction, the executive vice president now owns 534,617 shares in the company, valued at approximately $10,793,917.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Arlene M. Yocum purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of $20.02 per share, for a total transaction of $40,040.00. Following the purchase, the director now owns 94,887 shares in the company, valued at approximately $1,899,637.74. The disclosure for this purchase can be found here. Insiders have sold 221,066 shares of company stock valued at $4,464,688 in the last three months. 1.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Exchange Traded Concepts LLC acquired a new position in shares of Cleveland-Cliffs during the 3rd quarter worth approximately $29,000. Anchor Investment Management LLC acquired a new position in shares of Cleveland-Cliffs during the 4th quarter worth approximately $31,000. Lindbrook Capital LLC grew its position in shares of Cleveland-Cliffs by 83.7% during the 4th quarter. Lindbrook Capital LLC now owns 1,571 shares of the mining company’s stock worth $32,000 after purchasing an additional 716 shares in the last quarter. Rise Advisors LLC grew its position in shares of Cleveland-Cliffs by 2,858.0% during the 1st quarter. Rise Advisors LLC now owns 1,479 shares of the mining company’s stock worth $34,000 after purchasing an additional 1,429 shares in the last quarter. Finally, HighMark Wealth Management LLC acquired a new position in shares of Cleveland-Cliffs during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

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.