Wall Street Zen upgraded shares of Cleveland-Cliffs (NYSE:CLF – Free Report) from a hold rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.
A number of other research analysts also recently commented on the stock. Bank of America cut their target price on shares of Cleveland-Cliffs from $14.00 to $11.50 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Citigroup reissued a “positive” rating on shares of Cleveland-Cliffs in a report on Friday, July 24th. Morgan Stanley boosted their price objective on shares of Cleveland-Cliffs from $12.50 to $14.00 and gave the company an “equal weight” rating in a report on Tuesday. Barclays upped their target price on Cleveland-Cliffs from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of Cleveland-Cliffs in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Cleveland-Cliffs currently has an average rating of “Hold” and an average target price of $13.82.
View Our Latest Research Report on CLF
Cleveland-Cliffs Trading Up 6.6%
NYSE CLF opened at $13.91 on Friday. The stock has a market cap of $7.94 billion, a PE ratio of -16.37, a PEG ratio of 5.29 and a beta of 2.09. The company has a current ratio of 1.87, a quick ratio of 0.63 and a debt-to-equity ratio of 1.28. Cleveland-Cliffs has a 12 month low of $7.73 and a 12 month high of $15.35. The company’s 50-day moving average price is $12.17 and its 200-day moving average price is $11.42.
Cleveland-Cliffs (NYSE:CLF – Get Free Report) last issued its earnings results on Monday, October 19th. The mining company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted ($0.51) earnings per share. Equities research analysts forecast that Cleveland-Cliffs will post 0.12 earnings per share for the current year.
Insider Buying and Selling at Cleveland-Cliffs
In other news, Director Edilson Camara bought 7,400 shares of the business’s stock in a transaction dated Thursday, October 22nd. The stock was purchased at an average cost of $13.49 per share, with a total value of $99,826.00. Following the acquisition, the director directly owned 64,717 shares in the company, valued at $873,032.33. This trade represents a 12.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.95% of the stock is currently owned by company insiders.
Institutional Trading of Cleveland-Cliffs
A number of hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. raised its position in shares of Cleveland-Cliffs by 95.4% in the first quarter. Sei Investments Co. now owns 302,972 shares of the mining company’s stock worth $2,560,000 after acquiring an additional 147,899 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Cleveland-Cliffs by 68.0% during the 1st quarter. Quantinno Capital Management LP now owns 212,522 shares of the mining company’s stock worth $1,796,000 after acquiring an additional 86,036 shares in the last quarter. SFE Investment Counsel purchased a new stake in shares of Cleveland-Cliffs during the 2nd quarter worth about $8,562,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Cleveland-Cliffs during the 2nd quarter worth about $505,000. Finally, California State Teachers Retirement System grew its position in shares of Cleveland-Cliffs by 23.0% during the 1st quarter. California State Teachers Retirement System now owns 662,180 shares of the mining company’s stock valued at $5,595,000 after acquiring an additional 123,660 shares during the period. 67.68% of the stock is owned by hedge funds and other institutional investors.
More Cleveland-Cliffs News
Here are the key news stories impacting Cleveland-Cliffs this week:
- Positive Sentiment: Cleveland-Cliffs’ quarterly earnings exceeded Wall Street expectations, while analysts cited steadier automotive steel demand as a supportive factor for the company’s outlook. Cleveland-Cliffs Surges After Earnings Beat as Auto Steel Demand Steadies
- Positive Sentiment: The stock is leading a broader rally among U.S. steelmakers, suggesting improving sentiment toward domestic steel producers even as a global steel fund declined. Cleveland-Cliffs Surges While Steel Fund Slips
- Positive Sentiment: A Cleveland-Cliffs director purchased 7,400 shares for nearly $100,000, increasing his direct ownership by about 13%. The insider buying may signal confidence in the company’s valuation and prospects. SEC Insider Transaction Filing
- Positive Sentiment: The consensus price target reportedly increased 10.73% to $14.38, reflecting somewhat improved expectations following the recent results. Cleveland-Cliffs Consensus Price Target Increased
- Neutral Sentiment: Analyst views remain mixed. JPMorgan raised its target to $13 but maintained a neutral rating, indicating limited upside at recent levels, while other analysts appear more constructive. JPMorgan Cleveland-Cliffs Rating
- Negative Sentiment: Canada has given Cleveland-Cliffs 15 days to reverse planned layoffs at its Stelco Ontario facility or potentially face sanctions, including a forced divestiture. The dispute creates regulatory, labor and operational uncertainty. Canada Gives Cleveland-Cliffs 15 Days to Reverse Planned Job Cuts
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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