Brokerages Set Cleveland-Cliffs Inc. (NYSE:CLF) Target Price at $17.75

Shares of Cleveland-Cliffs Inc. (NYSE:CLF) have been assigned a consensus rating of “Hold” from the ten analysts that are presently covering the firm, MarketBeat.com 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 issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $17.56.

A number of research firms have recently commented on CLF. Morgan Stanley reduced their price objective on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a report on Wednesday. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. B. Riley reissued a “buy” rating and issued a $23.00 target price on shares of Cleveland-Cliffs in a report on Tuesday, June 25th. Bank of America decreased 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. Finally, JPMorgan Chase & Co. lowered Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $17.00 in a research note on Tuesday, June 11th.

Cleveland-Cliffs Trading Up 4.3 %

Shares of CLF opened at $12.04 on Tuesday. The stock’s 50-day moving average price is $13.50 and its 200 day moving average price is $16.63. The company has a quick ratio of 0.60, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 21.57 and a beta of 1.97. Cleveland-Cliffs has a 12-month low of $10.21 and a 12-month high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Monday, July 22nd. The mining company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Cleveland-Cliffs had a return on equity of 4.94% and a net margin of 0.21%. Cleveland-Cliffs’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. As a group, research analysts predict that Cleveland-Cliffs will post 0.01 earnings per share for the current year.

Institutional Trading of Cleveland-Cliffs

Several large investors have recently made changes to their positions in CLF. Altshuler Shaham Ltd acquired a new position in Cleveland-Cliffs during the 2nd quarter worth about $26,000. Hobbs Group Advisors LLC bought a new position in Cleveland-Cliffs in the 2nd quarter worth approximately $31,000. Gradient Investments LLC raised its position in Cleveland-Cliffs by 138.8% in the 2nd quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock worth $33,000 after purchasing an additional 1,249 shares during the last quarter. Rise Advisors LLC boosted its position in Cleveland-Cliffs by 2,858.0% in the 1st 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 during the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in Cleveland-Cliffs by 41.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock valued at $39,000 after buying an additional 500 shares during the last quarter. Institutional investors 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.