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

Cleveland-Cliffs Inc. (NYSE:CLF) has been given an average rating of “Hold” by the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $16.68.

Several analysts recently issued reports on the stock. StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Morgan Stanley lowered their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group assumed coverage on Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 target price for the company. Glj Research raised Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price target on the stock in a research note on Tuesday, January 7th. Finally, Citigroup cut their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th.

Cleveland-Cliffs Stock Up 7.9 %

Cleveland-Cliffs stock opened at $11.40 on Friday. The stock has a market capitalization of $5.63 billion, a PE ratio of -11.75 and a beta of 1.96. The business has a 50 day simple moving average of $10.20 and a 200-day simple moving average of $11.85. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. Cleveland-Cliffs has a 12 month low of $8.99 and a 12 month high of $22.97.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Strengthening Families & Communities LLC increased its stake in shares of Cleveland-Cliffs by 299.8% in the third 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 period. Pinpoint Asset Management Ltd bought a new position in shares of Cleveland-Cliffs in the fourth quarter valued at approximately $25,000. Darwin Wealth Management LLC acquired a new position in shares of Cleveland-Cliffs during the third quarter valued at approximately $34,000. Truvestments Capital LLC bought a new stake in Cleveland-Cliffs during the third quarter worth approximately $34,000. Finally, Blue Trust Inc. lifted its position in Cleveland-Cliffs by 231.9% in the third quarter. Blue Trust Inc. now owns 3,634 shares of the mining company’s stock worth $46,000 after purchasing an additional 2,539 shares during the period. 67.68% of the stock is 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.