Cleveland-Cliffs’ (CLF) “Sell (D-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (d-) rating on shares of Cleveland-Cliffs (NYSE:CLF) in a research report released on Thursday,Weiss Ratings reports.

A number of other research firms have also weighed in on CLF. UBS Group set a $15.00 price objective on shares of Cleveland-Cliffs in a research note on Monday, October 27th. Bank of America raised their price target on shares of Cleveland-Cliffs from $12.50 to $14.50 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Wells Fargo & Company reaffirmed an “underweight” rating and set a $11.00 price target on shares of Cleveland-Cliffs in a report on Tuesday, October 21st. Citigroup raised their price target on shares of Cleveland-Cliffs from $7.50 to $11.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Finally, Glj Research reaffirmed a “sell” rating and set a $5.75 price target on shares of Cleveland-Cliffs in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.88.

Cleveland-Cliffs Stock Up 1.5%

NYSE:CLF opened at $12.45 on Thursday. The firm has a market cap of $6.16 billion, a P/E ratio of -3.66 and a beta of 1.96. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.61 and a current ratio of 2.04. Cleveland-Cliffs has a fifty-two week low of $5.63 and a fifty-two week high of $16.70. The firm has a 50-day simple moving average of $12.30 and a two-hundred day simple moving average of $9.80.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Monday, October 20th. The mining company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.03. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.90 billion. Cleveland-Cliffs had a negative net margin of 9.00% and a negative return on equity of 20.02%. Cleveland-Cliffs’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business earned ($0.33) EPS. Analysts predict that Cleveland-Cliffs will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of Cleveland-Cliffs

Several large investors have recently added to or reduced their stakes in CLF. Atwood & Palmer Inc. bought a new stake in Cleveland-Cliffs during the second quarter valued at approximately $27,000. Trust Co. of Toledo NA OH bought a new stake in Cleveland-Cliffs during the second quarter valued at approximately $27,000. Winch Advisory Services LLC grew its position in Cleveland-Cliffs by 131.3% during the second quarter. Winch Advisory Services LLC now owns 4,070 shares of the mining company’s stock valued at $31,000 after buying an additional 2,310 shares during the period. Deseret Mutual Benefit Administrators grew its position in Cleveland-Cliffs by 72.6% during the third quarter. Deseret Mutual Benefit Administrators now owns 2,768 shares of the mining company’s stock valued at $34,000 after buying an additional 1,164 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Cleveland-Cliffs during the first quarter valued at approximately $36,000. 67.68% of the stock is currently owned by institutional investors.

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.