Cleveland-Cliffs (NYSE:CLF – Free Report) had its price objective reduced by JPMorgan Chase & Co. from $13.00 to $10.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the mining company’s stock.
A number of other research analysts also recently commented on the company. Wall Street Zen upgraded Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Argus raised Cleveland-Cliffs to a “hold” rating in a research report on Monday, April 6th. Wells Fargo & Company reduced their price target on Cleveland-Cliffs from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, March 19th. Glj Research reissued a “sell” rating and set a $9.42 price objective on shares of Cleveland-Cliffs in a research report on Monday, March 16th. Finally, The Goldman Sachs Group began coverage on Cleveland-Cliffs in a research report on Wednesday, April 1st. They set a “neutral” rating and a $9.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Cleveland-Cliffs currently has a consensus rating of “Hold” and an average price target of $12.69.
Check Out Our Latest Analysis on CLF
Cleveland-Cliffs Stock Performance
Cleveland-Cliffs (NYSE:CLF – Get Free Report) last issued its earnings results on Monday, February 9th. The mining company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.19. Cleveland-Cliffs had a negative return on equity of 18.94% and a negative net margin of 7.91%.The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the previous year, the firm posted ($0.68) EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. As a group, sell-side analysts forecast that Cleveland-Cliffs will post -0.79 earnings per share for the current fiscal year.
Insider Activity at Cleveland-Cliffs
In related news, CEO Lourenco Goncalves sold 3,000,000 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $12.42, for a total transaction of $37,260,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Clifford T. Smith sold 200,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $10.46, for a total value of $2,092,000.00. Following the transaction, the chief operating officer owned 560,529 shares in the company, valued at $5,863,133.34. This represents a 26.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.95% of the company’s stock.
Institutional Investors Weigh In On Cleveland-Cliffs
Several large investors have recently modified their holdings of the stock. Strengthening Families & Communities LLC grew its position in Cleveland-Cliffs by 4,315.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after acquiring an additional 1,942 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Cleveland-Cliffs during the 4th quarter worth $25,000. IFP Advisors Inc lifted its holdings in Cleveland-Cliffs by 117.5% during the 4th 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 in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Cleveland-Cliffs by 94.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,505 shares of the mining company’s stock worth $33,000 after buying an additional 1,214 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in Cleveland-Cliffs by 306.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,461 shares of the mining company’s stock worth $33,000 after buying an additional 1,855 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors.
More Cleveland-Cliffs News
Here are the key news stories impacting Cleveland-Cliffs this week:
- Positive Sentiment: Increased investor attention from Zacks/finance outlets is drawing more eyeballs and trading activity toward CLF, which can support short?term buying interest. Cleveland-Cliffs Inc. (CLF) is Attracting Investor Attention: Here is What You Should Know
- Positive Sentiment: Recent intraday/close gains (reported up recently) reflect short?term momentum as traders position ahead of quarterly results and follow sector flows into steel and iron?ore names. Cleveland-Cliffs (CLF) Beats Stock Market Upswing: What Investors Need to Know
- Neutral Sentiment: Analyst previews of CLF’s Q1 metrics highlight items investors should watch (shipments, steel spreads, North American demand, cost controls). These previews set expectations but do not change fundamentals until the company reports. What Analyst Projections for Key Metrics Reveal About Cleveland-Cliffs (CLF) Q1 Earnings
- Neutral Sentiment: Brokerage consensus remains a “Hold,” signaling mixed analyst views and limited near?term upside from upgrades alone. This keeps expectations measured ahead of catalysts. Cleveland-Cliffs Inc. (NYSE:CLF) Given Consensus Rating of “Hold” by Brokerages
- Negative Sentiment: Mesabi Trust cut its distribution after receiving lower royalty payments from Cleveland?Cliffs, highlighting operational uncertainty at Northshore and raising questions about ore volumes/quality and future royalty flows — a clear negative for CLF’s cash profile and investor sentiment. Assessing Cleveland-Cliffs (CLF) Valuation After Mesabi Trust Distribution Cut Highlights Operational Uncertainty
- Negative Sentiment: JPMorgan issued a pessimistic forecast for CLF’s stock price, which could pressure sentiment and trigger analyst downgrades or conservative targets if reiterated by other firms. JPMorgan Chase & Co. Issues Pessimistic Forecast for Cleveland-Cliffs (NYSE:CLF) Stock Price
About Cleveland-Cliffs
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.
Further Reading
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