Cleveland-Cliffs Inc. (NYSE:CLF) Given Average Recommendation of “Hold” by Brokerages

Cleveland-Cliffs Inc. (NYSE:CLF) has earned a consensus rating of “Hold” from the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $16.93.

CLF has been the topic of several research analyst reports. StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. The Goldman Sachs Group assumed coverage on shares of Cleveland-Cliffs in a report on Monday, December 2nd. They issued a “buy” rating and a $16.00 target price on the stock. Glj Research upgraded shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price target for the company in a research note on Tuesday, January 7th. Finally, Citigroup dropped their price objective on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th.

Cleveland-Cliffs Trading Down 1.4 %

Shares of NYSE:CLF opened at $10.28 on Monday. The company has a market cap of $5.08 billion, a PE ratio of -10.59 and a beta of 1.97. The company’s 50 day moving average is $10.83 and its two-hundred day moving average is $12.49. Cleveland-Cliffs has a 52 week low of $8.99 and a 52 week high of $22.97. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The company’s revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. Equities analysts predict that Cleveland-Cliffs will post -0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Strengthening Families & Communities LLC raised its stake in 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 purchasing an additional 1,490 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in shares of Cleveland-Cliffs in the second quarter valued at approximately $26,000. Darwin Wealth Management LLC purchased a new position in shares of Cleveland-Cliffs during the third quarter valued at approximately $34,000. Truvestments Capital LLC acquired a new stake in Cleveland-Cliffs during the third quarter worth approximately $34,000. Finally, Blue Trust Inc. grew its stake in Cleveland-Cliffs by 231.9% in the 3rd quarter. Blue Trust Inc. now owns 3,634 shares of the mining company’s stock worth $46,000 after acquiring an additional 2,539 shares during the period. 67.68% of the stock is currently owned by institutional investors and hedge funds.

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.