Cleveland-Cliffs (NYSE:CLF) Receives Sell (D-) Rating from Weiss Ratings

Weiss Ratings restated their sell (d-) rating on shares of Cleveland-Cliffs (NYSE:CLF) in a report released on Thursday morning,Weiss Ratings reports.

A number of other research firms have also issued reports on CLF. Bank of America lifted their target price on Cleveland-Cliffs from $12.50 to $14.50 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. UBS Group set a $15.00 price target on shares of Cleveland-Cliffs in a report on Monday. The Goldman Sachs Group upped their price target on shares of Cleveland-Cliffs from $12.85 to $14.50 and gave the company a “buy” rating in a report on Thursday, October 9th. KeyCorp upped their price target on shares of Cleveland-Cliffs from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Monday. Finally, Morgan Stanley upped their price target on shares of Cleveland-Cliffs from $8.00 to $10.50 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.73.

Cleveland-Cliffs Stock Performance

CLF stock opened at $12.31 on Thursday. The company has a market capitalization of $6.09 billion, a P/E ratio of -3.62 and a beta of 1.96. The company has a 50-day simple moving average of $12.26 and a 200 day simple moving average of $9.74. Cleveland-Cliffs has a fifty-two week low of $5.63 and a fifty-two week high of $16.70. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.41.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Monday, October 20th. The mining company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.03. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.90 billion. Cleveland-Cliffs had a negative net margin of 9.00% and a negative return on equity of 20.02%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.33) earnings per share. Sell-side analysts predict that Cleveland-Cliffs will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of Cleveland-Cliffs

A number of hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its stake in Cleveland-Cliffs by 0.9% during the third quarter. Oregon Public Employees Retirement Fund now owns 99,649 shares of the mining company’s stock valued at $1,216,000 after buying an additional 900 shares in the last quarter. 4WEALTH Advisors Inc. lifted its stake in Cleveland-Cliffs by 1.5% during the third quarter. 4WEALTH Advisors Inc. now owns 76,834 shares of the mining company’s stock valued at $937,000 after buying an additional 1,118 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Cleveland-Cliffs by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 135,600 shares of the mining company’s stock valued at $1,115,000 after buying an additional 1,200 shares in the last quarter. Clear Creek Financial Management LLC lifted its stake in Cleveland-Cliffs by 5.1% during the second quarter. Clear Creek Financial Management LLC now owns 26,480 shares of the mining company’s stock valued at $201,000 after buying an additional 1,280 shares in the last quarter. Finally, Pinnacle Holdings LLC lifted its stake in Cleveland-Cliffs by 1.3% during the first quarter. Pinnacle Holdings LLC now owns 105,791 shares of the mining company’s stock valued at $870,000 after buying an additional 1,371 shares in the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.