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

Shares of Cleveland-Cliffs Inc. (NYSE:CLF) have been given a consensus rating of “Hold” by the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $17.75.

CLF has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered shares of Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $17.00 in a research note on Tuesday, June 11th. Citigroup reduced their target price on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a report on Tuesday, September 10th. Bank of America dropped their price target on Cleveland-Cliffs from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. B. Riley reissued a “buy” rating and set a $23.00 target price on shares of Cleveland-Cliffs in a research note on Tuesday, June 25th. Finally, Jefferies Financial Group assumed coverage on Cleveland-Cliffs in a research report on Monday, May 20th. They set a “buy” rating and a $22.00 price objective for the company.

Cleveland-Cliffs Trading Down 1.4 %

Cleveland-Cliffs stock opened at $11.74 on Tuesday. Cleveland-Cliffs has a 1 year low of $10.21 and a 1 year high of $22.97. The firm’s 50-day moving average is $13.72 and its 200-day moving average is $16.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.60 and a current ratio of 1.87. The company has a market cap of $5.58 billion, a P/E ratio of 15.86, a PEG ratio of 21.57 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Monday, July 22nd. The mining company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Cleveland-Cliffs had a net margin of 0.21% and a return on equity of 4.94%. Cleveland-Cliffs’s revenue was down 14.9% on a year-over-year basis. During the same quarter last year, the company posted $0.69 earnings per share. On average, equities analysts expect that Cleveland-Cliffs will post 0.01 earnings per share for the current year.

Hedge Funds Weigh In On Cleveland-Cliffs

A number of hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in Cleveland-Cliffs in the second quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Cleveland-Cliffs in the second quarter worth $31,000. Gradient Investments LLC increased its position in Cleveland-Cliffs by 138.8% during the second quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock worth $33,000 after buying an additional 1,249 shares during the last quarter. Rise Advisors LLC raised its holdings in Cleveland-Cliffs by 2,858.0% during the first quarter. Rise Advisors LLC now owns 1,479 shares of the mining company’s stock valued at $34,000 after buying an additional 1,429 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in shares of Cleveland-Cliffs by 41.7% in the first quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock worth $39,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

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.