Cleveland-Cliffs Inc. (NYSE:CLF) Stock Has Consensus Target Price of $14.18 According to Analysts

Shares of Cleveland-Cliffs Inc. (NYSE:CLF) have received an average rating of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $14.18.

CLF has been the topic of several research analyst reports. B. Riley Financial raised their price objective on Cleveland-Cliffs from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Barclays increased their target price on Cleveland-Cliffs from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Thursday, October 22nd. Citigroup lifted their price target on shares of Cleveland-Cliffs from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Glj Research boosted their price target on shares of Cleveland-Cliffs from $15.60 to $17.48 and gave the stock a “buy” rating in a report on Monday, September 21st. Finally, Bank of America reduced their price objective on shares of Cleveland-Cliffs from $14.00 to $11.50 and set a “neutral” rating for the company in a research report on Thursday, July 9th.

Cleveland-Cliffs Stock Performance

NYSE CLF opened at $14.14 on Friday. The stock has a 50-day simple moving average of $12.51 and a two-hundred day simple moving average of $11.41. The firm has a market capitalization of $8.07 billion, a P/E ratio of -16.64, a PEG ratio of 5.92 and a beta of 1.99. Cleveland-Cliffs has a fifty-two week low of $7.73 and a fifty-two week high of $15.35. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.64 and a current ratio of 1.87.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Monday, October 19th. The mining company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Cleveland-Cliffs had a negative return on equity of 6.83% and a negative net margin of 2.36%. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.69 billion. During the same quarter in the prior year, the business earned ($0.51) earnings per share. The company’s revenue was up 18.5% compared to the same quarter last year. On average, equities analysts forecast that Cleveland-Cliffs will post 0.11 earnings per share for the current year.

Insider Activity

In related news, Director Edilson Camara bought 7,400 shares of the business’s stock in a transaction dated Thursday, October 22nd. The stock was acquired at an average price of $13.49 per share, with a total value of $99,826.00. Following the completion of the purchase, the director directly owned 64,717 shares of the company’s stock, valued at approximately $873,032.33. This trade represents a 12.91% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cleveland-Cliffs

Several institutional investors have recently bought and sold shares of CLF. Harbour Trust & Investment Management Co grew its stake in Cleveland-Cliffs by 7.4% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 13,355 shares of the mining company’s stock valued at $147,000 after acquiring an additional 920 shares in the last quarter. Signaturefd LLC lifted its stake in Cleveland-Cliffs by 13.0% in the 3rd quarter. Signaturefd LLC now owns 9,234 shares of the mining company’s stock worth $102,000 after purchasing an additional 1,059 shares in the last quarter. IFP Advisors Inc lifted its stake in Cleveland-Cliffs by 39.5% in the 2nd quarter. IFP Advisors Inc now owns 5,127 shares of the mining company’s stock worth $48,000 after purchasing an additional 1,453 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Cleveland-Cliffs by 4.2% in the 2nd quarter. Baird Financial Group Inc. now owns 37,026 shares of the mining company’s stock worth $348,000 after purchasing an additional 1,496 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in shares of Cleveland-Cliffs by 12.8% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 13,857 shares of the mining company’s stock worth $153,000 after purchasing an additional 1,567 shares during the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is an integrated North American steel producer headquartered in Cleveland, Ohio. The company operates across the steelmaking value chain, from mining and processing iron ore to producing and distributing finished steel products. Its operations include iron ore mines and pelletizing facilities, steel mills, finishing plants, and related manufacturing and distribution assets.

The company produces carbon steel, stainless steel, electrical steel, and other specialty products, including hot-rolled, cold-rolled, and galvanized sheet steel.