Cleveland-Cliffs Inc (CLF) Given Consensus Recommendation of “Hold” by Analysts

Shares of Cleveland-Cliffs Inc (NYSE:CLF) have received an average recommendation of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $9.50.

CLF has been the subject of several recent research reports. FBR & Co set a $10.00 price target on Cleveland-Cliffs and gave the company a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research cut Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Cowen set a $7.00 price target on Cleveland-Cliffs and gave the company a “hold” rating in a research report on Tuesday, October 17th. JPMorgan Chase & Co. cut Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $6.90 to $10.00 in a research report on Monday, October 23rd. Finally, B. Riley reiterated a “buy” rating on shares of Cleveland-Cliffs in a research report on Wednesday, November 1st.

Cleveland-Cliffs (NYSE CLF) opened at $8.49 on Friday. The firm has a market capitalization of $2,520.00, a price-to-earnings ratio of 13.27 and a beta of 1.61. Cleveland-Cliffs has a 52-week low of $5.56 and a 52-week high of $12.37. The company has a debt-to-equity ratio of -2.03, a current ratio of 1.89 and a quick ratio of 1.18.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings results on Friday, October 20th. The mining company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.06. The company had revenue of $698.00 million during the quarter, compared to analysts’ expectations of $669.25 million. Cleveland-Cliffs had a negative return on equity of 29.06% and a net margin of 5.48%. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) earnings per share. analysts anticipate that Cleveland-Cliffs will post 0.5 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Nordea Investment Management AB boosted its stake in Cleveland-Cliffs by 12.1% during the second quarter. Nordea Investment Management AB now owns 716,957 shares of the mining company’s stock valued at $4,961,000 after buying an additional 77,549 shares during the period. Voya Investment Management LLC boosted its stake in Cleveland-Cliffs by 19.0% during the second quarter. Voya Investment Management LLC now owns 137,280 shares of the mining company’s stock valued at $950,000 after buying an additional 21,881 shares during the period. BlackRock Inc. boosted its stake in Cleveland-Cliffs by 1.6% during the second quarter. BlackRock Inc. now owns 18,860,269 shares of the mining company’s stock valued at $130,512,000 after buying an additional 306,081 shares during the period. State Street Corp boosted its stake in Cleveland-Cliffs by 6.5% during the second quarter. State Street Corp now owns 10,720,937 shares of the mining company’s stock valued at $74,189,000 after buying an additional 653,261 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Cleveland-Cliffs during the third quarter valued at $1,195,000. 56.74% of the stock is owned by institutional investors.

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About Cleveland-Cliffs

Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.

Analyst Recommendations for Cleveland-Cliffs (NYSE:CLF)

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