Cleveland-Cliffs Inc. (NYSE:CLF) Receives Average Rating of “Hold” from Analysts

Cleveland-Cliffs Inc. (NYSE:CLF) has received an average rating of “Hold” from the ten brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $17.56.

Several equities research analysts have commented on the stock. Citigroup dropped their price objective on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Seaport Res Ptn upgraded shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Morgan Stanley dropped their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th.

Cleveland-Cliffs Stock Down 11.5 %

CLF opened at $11.61 on Wednesday. Cleveland-Cliffs has a twelve month low of $10.21 and a twelve month high of $22.97. The company’s 50-day moving average price is $12.67 and its two-hundred day moving average price is $14.65. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of -11.96 and a beta of 1.97. The company has a quick ratio of 0.60, a current ratio of 1.87 and a debt-to-equity ratio of 0.48.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Cleveland-Cliffs had a net margin of 0.21% and a return on equity of 4.94%. Cleveland-Cliffs’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 EPS. As a group, equities analysts expect that Cleveland-Cliffs will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Cleveland-Cliffs

Institutional investors have recently added to or reduced their stakes in the business. Twelve Points Wealth Management LLC increased its holdings in shares of Cleveland-Cliffs by 58.5% in the 3rd quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company’s stock worth $1,708,000 after buying an additional 49,359 shares during the last quarter. Hodges Capital Management Inc. raised its position in Cleveland-Cliffs by 5.0% during the second quarter. Hodges Capital Management Inc. now owns 2,199,634 shares of the mining company’s stock valued at $33,852,000 after purchasing an additional 104,197 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Cleveland-Cliffs by 2.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 40,118 shares of the mining company’s stock worth $879,000 after purchasing an additional 984 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Cleveland-Cliffs by 82.2% in the 1st quarter. Russell Investments Group Ltd. now owns 392,842 shares of the mining company’s stock worth $8,932,000 after purchasing an additional 177,198 shares in the last quarter. Finally, Natixis bought a new position in shares of Cleveland-Cliffs during the 1st quarter valued at about $100,000. 67.68% of the stock is currently owned by institutional investors.

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.