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

Shares of Cleveland-Cliffs Inc. (NYSE:CLF) have been given a consensus rating of “Hold” by the ten ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $12.7750.

Several analysts recently weighed in on the stock. Glj Research reiterated a “sell” rating and issued a $5.75 price objective on shares of Cleveland-Cliffs in a research report on Tuesday, October 21st. JPMorgan Chase & Co. lifted their price target on Cleveland-Cliffs from $10.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, October 13th. UBS Group set a $15.00 price objective on Cleveland-Cliffs in a research report on Monday, October 27th. Citigroup lowered their target price on Cleveland-Cliffs from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Finally, KeyCorp cut their target price on Cleveland-Cliffs from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th.

Cleveland-Cliffs Trading Up 2.0%

NYSE:CLF opened at $11.20 on Friday. The firm has a market capitalization of $5.54 billion, a P/E ratio of -3.29 and a beta of 2.07. The business has a 50 day simple moving average of $12.26 and a 200 day simple moving average of $10.10. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.04 and a quick ratio of 0.61. Cleveland-Cliffs has a 12-month low of $5.63 and a 12-month high of $16.70.

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

Institutional Investors Weigh In On Cleveland-Cliffs

Several institutional investors have recently bought and sold shares of CLF. Strengthening Families & Communities LLC increased its stake in Cleveland-Cliffs by 4,315.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after buying an additional 1,942 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Cleveland-Cliffs by 819.2% in the third quarter. Larson Financial Group LLC now owns 2,684 shares of the mining company’s stock valued at $33,000 after acquiring an additional 2,392 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings 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 worth $34,000 after purchasing an additional 1,164 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in Cleveland-Cliffs in the second quarter worth approximately $27,000. Finally, Atwood & Palmer Inc. acquired a new stake in Cleveland-Cliffs in the second quarter worth approximately $27,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

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.