Shares of Cleveland-Cliffs Inc. (NYSE:CLF – Get Free Report) have been given an average recommendation of “Hold” by the twelve research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $14.18.
Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cleveland-Cliffs in a research note on Monday, October 19th. UBS Group set a $13.00 price objective on shares of Cleveland-Cliffs in a research note on Monday, September 7th. Glj Research boosted their price objective on shares of Cleveland-Cliffs from $15.60 to $17.48 and gave the stock a “buy” rating in a research note on Monday, September 21st. JPMorgan Chase & Co. upped their price objective on shares of Cleveland-Cliffs from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Finally, Citigroup raised their target price on shares of Cleveland-Cliffs from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, October 30th.
Check Out Our Latest Analysis on CLF
Cleveland-Cliffs Price Performance
CLF opened at $11.48 on Friday. The company has a current ratio of 1.87, a quick ratio of 0.64 and a debt-to-equity ratio of 1.28. The company has a market cap of $6.55 billion, a price-to-earnings ratio of -13.50, a price-to-earnings-growth ratio of 4.90 and a beta of 1.99. The stock has a fifty day simple moving average of $12.52 and a two-hundred day simple moving average of $11.38. Cleveland-Cliffs has a 12-month low of $7.73 and a 12-month high of $15.35.
Cleveland-Cliffs (NYSE:CLF – Get Free Report) last announced its earnings results on Monday, October 19th. The mining company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.69 billion. Cleveland-Cliffs had a negative net margin of 2.36% and a negative return on equity of 6.83%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.51) EPS. Research analysts predict that Cleveland-Cliffs will post 0.10 earnings per share for the current fiscal year.
Insider Buying and Selling at Cleveland-Cliffs
In related news, Director Edilson Camara purchased 7,400 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The shares were bought at an average price of $13.49 per share, for a total transaction of $99,826.00. Following the purchase, the director directly owned 64,717 shares of the company’s stock, valued at approximately $873,032.33. This represents a 12.91% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.95% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in CLF. Harbour Trust & Investment Management Co grew its position in shares of Cleveland-Cliffs by 7.4% in the third quarter. Harbour Trust & Investment Management Co now owns 13,355 shares of the mining company’s stock valued at $147,000 after purchasing an additional 920 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Cleveland-Cliffs by 13.0% in the third quarter. Signaturefd LLC now owns 9,234 shares of the mining company’s stock valued at $102,000 after purchasing an additional 1,059 shares during the last quarter. IFP Advisors Inc lifted its position in Cleveland-Cliffs by 39.5% during the second quarter. IFP Advisors Inc now owns 5,127 shares of the mining company’s stock worth $48,000 after buying an additional 1,453 shares in the last quarter. Baird Financial Group Inc. lifted its position in Cleveland-Cliffs by 4.2% during the second quarter. Baird Financial Group Inc. now owns 37,026 shares of the mining company’s stock worth $348,000 after buying an additional 1,496 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in Cleveland-Cliffs by 12.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 13,857 shares of the mining company’s stock worth $153,000 after buying an additional 1,567 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.
About Cleveland-Cliffs
Cleveland-Cliffs Inc is an integrated North American steel producer headquartered in Cleveland, Ohio. The company operates across the steelmaking value chain, from mining and processing iron ore to producing and distributing finished steel products. Its operations include iron ore mines and pelletizing facilities, steel mills, finishing plants, and related manufacturing and distribution assets.
The company produces carbon steel, stainless steel, electrical steel, and other specialty products, including hot-rolled, cold-rolled, and galvanized sheet steel.
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