Cleveland-Cliffs Inc. (NYSE:CLF) Stock Has Consensus Price Target of $12.45

Cleveland-Cliffs Inc. (NYSE:CLF) has received a consensus rating of “Hold” from the eleven analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $12.35.

CLF has been the topic of several recent analyst reports. Barclays upped their price target on shares of Cleveland-Cliffs from $9.00 to $10.00 and gave the company an “underweight” rating in a report on Friday, July 24th. JPMorgan Chase & Co. decreased their price objective on shares of Cleveland-Cliffs from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday. Wells Fargo & Company raised shares of Cleveland-Cliffs from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $12.00 to $14.00 in a research report on Tuesday. Glj Research upped their target price on shares of Cleveland-Cliffs from $15.60 to $17.48 and gave the company a “buy” rating in a research note on Monday, September 21st. Finally, UBS Group set a $13.00 price target on shares of Cleveland-Cliffs in a research report on Monday, September 7th.

Cleveland-Cliffs Trading Up 6.4%

Shares of CLF opened at $12.97 on Wednesday. Cleveland-Cliffs has a one year low of $7.73 and a one year high of $16.70. The stock has a 50-day moving average price of $11.98 and a 200 day moving average price of $11.08. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.63 and a current ratio of 1.89. The company has a market capitalization of $7.40 billion, a P/E ratio of -8.01 and a beta of 2.09.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Thursday, July 23rd. The mining company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.01. The company had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.15 billion. Cleveland-Cliffs had a negative return on equity of 13.37% and a negative net margin of 4.56%. Cleveland-Cliffs’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.50) EPS. Sell-side analysts forecast that Cleveland-Cliffs will post -0.04 EPS for the current fiscal year.

Institutional Trading of Cleveland-Cliffs

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Cleveland-Cliffs by 91.3% during the 3rd quarter. GAMMA Investing LLC now owns 23,242 shares of the mining company’s stock valued at $256,000 after acquiring an additional 11,093 shares in the last quarter. Tidal Investments LLC lifted its stake in Cleveland-Cliffs by 79.2% during the second quarter. Tidal Investments LLC now owns 80,324 shares of the mining company’s stock worth $754,000 after purchasing an additional 35,506 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in Cleveland-Cliffs in the second quarter worth $1,969,000. Engineers Gate Manager LP boosted its holdings in Cleveland-Cliffs by 212.9% in the second quarter. Engineers Gate Manager LP now owns 1,407,953 shares of the mining company’s stock worth $13,221,000 after purchasing an additional 958,049 shares during the period. Finally, IFP Advisors Inc increased its stake in Cleveland-Cliffs by 39.5% during the second quarter. IFP Advisors Inc now owns 5,127 shares of the mining company’s stock valued at $48,000 after purchasing an additional 1,453 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is an integrated steel producer headquartered in Cleveland, Ohio. The company operates across the steelmaking value chain, including the mining and processing of iron ore, production of iron ore pellets, and manufacturing of finished steel products.

Cleveland-Cliffs primarily produces flat-rolled carbon steel, including hot-rolled, cold-rolled and galvanized products, as well as coated and specialty steel. Its products are used in automotive manufacturing, construction, infrastructure, appliances, machinery and other industrial applications.