Cleveland-Cliffs Inc (NYSE:CLF) has received an average rating of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $10.00.
CLF has been the topic of several research analyst reports. FBR & Co restated a “buy” rating and set a $10.00 target price on shares of Cleveland-Cliffs in a report on Friday, October 20th. JPMorgan Chase & Co. lowered Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and upped their price target for the company from $6.90 to $10.00 in a research note on Monday, October 23rd. Zacks Investment Research lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. B. Riley reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a research note on Wednesday, November 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Cleveland-Cliffs in a research note on Friday, November 24th.
Several institutional investors and hedge funds have recently modified their holdings of the company. Gotham Asset Management LLC acquired a new position in shares of Cleveland-Cliffs during the fourth quarter valued at $166,000. BB&T Securities LLC acquired a new position in shares of Cleveland-Cliffs during the fourth quarter valued at $205,000. Element Capital Management LLC acquired a new position in Cleveland-Cliffs in the fourth quarter valued at about $2,196,000. Millennium Management LLC acquired a new position in Cleveland-Cliffs in the fourth quarter valued at about $7,336,000. Finally, Capital Wealth Planning LLC acquired a new position in Cleveland-Cliffs in the fourth quarter valued at about $159,000. 56.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cleveland-Cliffs (CLF) traded up $0.55 during mid-day trading on Wednesday, hitting $7.92. The stock had a trading volume of 23,460,000 shares, compared to its average volume of 16,510,000. The company has a quick ratio of 2.80, a current ratio of 3.42 and a debt-to-equity ratio of -5.19. The company has a market capitalization of $2,360.00, a PE ratio of -88.00 and a beta of 1.58. Cleveland-Cliffs has a 12 month low of $5.56 and a 12 month high of $12.22.
Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Thursday, January 25th. The mining company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.15 by $0.11. The company had revenue of $600.90 million for the quarter, compared to analysts’ expectations of $612.50 million. Cleveland-Cliffs had a negative return on equity of 35.81% and a net margin of 16.09%. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. equities research analysts forecast that Cleveland-Cliffs will post 1.04 earnings per share for the current year.
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Cleveland-Cliffs Company Profile
Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.
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