Cleveland-Cliffs Inc. (NYSE:CLF) Given Consensus Rating of “Hold” by Analysts

Shares of Cleveland-Cliffs Inc. (NYSE:CLF) have been assigned a consensus recommendation of “Hold” from the ten research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $17.56.

A number of analysts have issued reports on the company. StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Morgan Stanley decreased their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Citigroup decreased their target price on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Finally, Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th.

Institutional Investors Weigh In On Cleveland-Cliffs

Hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in Cleveland-Cliffs during the second quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Cleveland-Cliffs by 247.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock valued at $43,000 after acquiring an additional 1,343 shares during the last quarter. Strengthening Families & Communities LLC lifted its stake in shares of Cleveland-Cliffs by 299.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after acquiring an additional 1,490 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Cleveland-Cliffs in the 2nd quarter valued at about $31,000. Finally, Gradient Investments LLC lifted its stake in shares of Cleveland-Cliffs by 138.8% in the 2nd quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock valued at $33,000 after acquiring an additional 1,249 shares during the last quarter. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Up 2.6 %

CLF stock opened at $12.45 on Friday. Cleveland-Cliffs has a twelve month low of $10.21 and a twelve month high of $22.97. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average is $12.69 and its 200-day moving average is $13.93. The firm has a market capitalization of $6.15 billion, a PE ratio of -12.84 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.72 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business’s revenue was down 18.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 earnings per share. Sell-side analysts expect that Cleveland-Cliffs will post -0.45 EPS for the current fiscal year.

About Cleveland-Cliffs

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.