Brokerages Set Cleveland-Cliffs Inc. (NYSE:CLF) Price Target at $13.80

Cleveland-Cliffs Inc. (NYSE:CLF) has been assigned a consensus rating of “Hold” from the ten research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $13.8020.

Several analysts recently commented on the company. The Goldman Sachs Group raised their target price on Cleveland-Cliffs from $14.50 to $16.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Bank of America upped their price objective on Cleveland-Cliffs from $12.50 to $14.50 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Morgan Stanley raised shares of Cleveland-Cliffs from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $12.80 to $17.00 in a report on Friday, January 9th. UBS Group set a $15.00 target price on shares of Cleveland-Cliffs in a research note on Monday, October 27th. Finally, Citigroup dropped their price target on shares of Cleveland-Cliffs from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th.

Hedge Funds Weigh In On Cleveland-Cliffs

Institutional investors and hedge funds have recently modified their holdings of the business. Strengthening Families & Communities LLC grew its holdings in Cleveland-Cliffs by 4,315.6% in the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after purchasing an additional 1,942 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in Cleveland-Cliffs in the 2nd quarter valued at $27,000. Winch Advisory Services LLC grew its stake in Cleveland-Cliffs by 131.3% in the 2nd quarter. Winch Advisory Services LLC now owns 4,070 shares of the mining company’s stock valued at $31,000 after acquiring an additional 2,310 shares during the period. Larson Financial Group LLC increased its holdings in Cleveland-Cliffs by 819.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,684 shares of the mining company’s stock worth $33,000 after acquiring an additional 2,392 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its position in Cleveland-Cliffs by 72.6% during the third quarter. Deseret Mutual Benefit Administrators now owns 2,768 shares of the mining company’s stock worth $34,000 after acquiring an additional 1,164 shares during the period. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Down 4.8%

Shares of Cleveland-Cliffs stock opened at $13.84 on Friday. Cleveland-Cliffs has a 1 year low of $5.63 and a 1 year high of $16.70. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.04 and a quick ratio of 0.61. The stock has a market cap of $6.84 billion, a PE ratio of -4.07 and a beta of 1.93. The firm has a fifty day moving average price of $13.44 and a 200 day moving average price of $12.21.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.