Cleveland-Cliffs Inc. (NYSE:CLF) Receives Average Rating of “Hold” from Analysts

Cleveland-Cliffs Inc. (NYSE:CLF) has received a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $12.06.

Several brokerages have recently commented on CLF. UBS Group set a $13.00 price objective on Cleveland-Cliffs in a report on Monday. Glj Research raised Cleveland-Cliffs from a “hold” rating to a “buy” rating and upped their target price for the company from $15.01 to $15.60 in a research report on Friday, July 24th. JPMorgan Chase & Co. increased their price target on Cleveland-Cliffs from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday. Citigroup reissued a “positive” rating on shares of Cleveland-Cliffs in a report on Friday, July 24th. Finally, Barclays boosted their price target on Cleveland-Cliffs from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Friday, July 24th.

Cleveland-Cliffs Stock Up 2.0%

NYSE:CLF opened at $12.06 on Friday. Cleveland-Cliffs has a fifty-two week low of $7.73 and a fifty-two week high of $16.70. The stock has a market capitalization of $6.88 billion, a P/E ratio of -7.45 and a beta of 2.10. 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’s 50-day simple moving average is $11.27 and its 200-day simple moving average is $10.75.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Thursday, July 23rd. The mining company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.01. The firm had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.15 billion. Cleveland-Cliffs had a negative net margin of 4.56% and a negative return on equity of 13.37%. Cleveland-Cliffs’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.50) EPS. On average, equities analysts anticipate that Cleveland-Cliffs will post -0.11 earnings per share for the current fiscal year.

Institutional Trading of Cleveland-Cliffs

A number of institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new position in Cleveland-Cliffs during the 4th quarter valued at approximately $25,000. Center for Financial Planning Inc. lifted its stake in shares of Cleveland-Cliffs by 119.0% during the first quarter. Center for Financial Planning Inc. now owns 3,322 shares of the mining company’s stock worth $28,000 after buying an additional 1,805 shares during the period. IFP Advisors Inc lifted its stake in shares of Cleveland-Cliffs by 117.5% during the fourth quarter. IFP Advisors Inc now owns 2,221 shares of the mining company’s stock worth $29,000 after buying an additional 1,200 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Cleveland-Cliffs during the second quarter valued at $30,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Cleveland-Cliffs by 94.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,505 shares of the mining company’s stock valued at $33,000 after buying an additional 1,214 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 a vertically integrated steel producer headquartered in Cleveland, Ohio. The company mines and processes iron ore, produces iron ore pellets, and manufactures steel products for customers primarily in North America. Its operations include integrated steel mills, electric arc furnaces, finishing facilities, and related processing and distribution capabilities.

The company produces a broad range of flat-rolled carbon steel products, including hot-rolled, cold-rolled, and coated steel.