Cleveland-Cliffs Inc (CLF) Receives Consensus Recommendation of “Hold” from Brokerages

Cleveland-Cliffs Inc (NYSE:CLF) has been given an average rating of “Hold” by the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $9.50.

A number of research analysts have recently weighed in on CLF shares. B. Riley set a $10.00 target price on Cleveland-Cliffs and gave the company a “buy” rating in a report on Friday, November 17th. Zacks Investment Research lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. FBR & Co restated a “buy” rating and issued 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 raised their target price for the company from $6.90 to $10.00 in a report on Monday, October 23rd. Finally, KeyCorp restated a “hold” rating on shares of Cleveland-Cliffs in a report on Friday, November 24th.

Cleveland-Cliffs (NYSE CLF) opened at $8.49 on Friday. Cleveland-Cliffs has a fifty-two week low of $5.56 and a fifty-two week high of $12.37. The company has a quick ratio of 1.18, a current ratio of 1.89 and a debt-to-equity ratio of -2.03. The firm has a market capitalization of $2,520.00, a P/E ratio of 13.27 and a beta of 1.61.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Friday, October 20th. The mining company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.06. Cleveland-Cliffs had a negative return on equity of 29.06% and a net margin of 5.48%. The company had revenue of $698.00 million for the quarter, compared to analyst estimates of $669.25 million. During the same quarter last year, the company earned ($0.11) earnings per share. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. sell-side analysts forecast that Cleveland-Cliffs will post 0.5 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. NEXT Financial Group Inc increased its position in shares of Cleveland-Cliffs by 87.8% during the fourth quarter. NEXT Financial Group Inc now owns 13,905 shares of the mining company’s stock valued at $100,000 after acquiring an additional 6,500 shares during the last quarter. Comerica Bank increased its position in shares of Cleveland-Cliffs by 49.5% during the second quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock valued at $116,000 after acquiring an additional 5,129 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Cleveland-Cliffs during the second quarter valued at approximately $128,000. D.A. Davidson & CO. increased its position in shares of Cleveland-Cliffs by 486.8% during the second quarter. D.A. Davidson & CO. now owns 18,597 shares of the mining company’s stock valued at $128,000 after acquiring an additional 15,428 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Cleveland-Cliffs by 19.0% during the second quarter. HighTower Advisors LLC now owns 19,092 shares of the mining company’s stock valued at $133,000 after acquiring an additional 3,046 shares during the last quarter. 56.74% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Cleveland-Cliffs (NYSE:CLF)

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