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

Cleveland-Cliffs Inc. (NYSE:CLF) has earned an average recommendation of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $17.22.

A number of analysts have issued reports on CLF shares. Morgan Stanley decreased their price target on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Citigroup lowered their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. StockNews.com downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group started coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They issued a “buy” rating and a $16.00 target price on the stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in Cleveland-Cliffs by 23.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,597,662 shares of the mining company’s stock valued at $86,148,000 after buying an additional 1,069,907 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in Cleveland-Cliffs in the second quarter valued at $155,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Cleveland-Cliffs by 6.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 348,105 shares of the mining company’s stock worth $5,357,000 after purchasing an additional 22,468 shares in the last quarter. Arkadios Wealth Advisors grew its stake in shares of Cleveland-Cliffs by 157.7% during the 2nd quarter. Arkadios Wealth Advisors now owns 52,151 shares of the mining company’s stock worth $803,000 after purchasing an additional 31,911 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Cleveland-Cliffs by 10.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 177,043 shares of the mining company’s stock valued at $2,725,000 after purchasing an additional 17,004 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Up 1.0 %

NYSE CLF opened at $9.46 on Thursday. Cleveland-Cliffs has a one year low of $9.13 and a one year high of $22.97. The firm has a 50 day simple moving average of $12.01 and a 200-day simple moving average of $13.13. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of -9.75 and a beta of 1.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. The firm’s revenue was down 18.5% compared to the same quarter last year. Equities research analysts anticipate that Cleveland-Cliffs will post -0.45 EPS for the current fiscal year.

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.