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

Cleveland-Cliffs Inc (NYSE:CLF) has been assigned an average rating of “Hold” from the fourteen research firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $10.00.

CLF has been the subject of a number of recent research reports. B. Riley set a $10.00 price objective on shares of Cleveland-Cliffs and gave the stock a “buy” rating in a research note on Friday, November 17th. Zacks Investment Research cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. FBR & Co reissued a “buy” rating and issued a $10.00 price objective on shares of Cleveland-Cliffs in a research note on Friday, October 20th. JPMorgan Chase & Co. cut shares of Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $6.90 to $10.00 in a research note on Monday, October 23rd. Finally, KeyCorp reissued a “hold” rating on shares of Cleveland-Cliffs in a research note on Friday, November 24th.

Cleveland-Cliffs (NYSE CLF) opened at $7.09 on Wednesday. The firm has a market cap of $2,100.00, a price-to-earnings ratio of 5.45 and a beta of 1.58. Cleveland-Cliffs has a 52 week low of $5.56 and a 52 week high of $12.22. The company has a debt-to-equity ratio of -5.28, a quick ratio of 2.80 and a current ratio of 3.42.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Thursday, January 25th. The mining company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. Cleveland-Cliffs had a net margin of 16.09% and a negative return on equity of 35.92%. The business had revenue of $600.90 million during the quarter, compared to analysts’ expectations of $612.50 million. During the same period last year, the company posted $0.42 EPS. The business’s revenue was down 20.3% on a year-over-year basis. equities analysts predict that Cleveland-Cliffs will post 1.02 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in CLF. NEXT Financial Group Inc lifted its holdings in shares of Cleveland-Cliffs by 87.8% in the 4th quarter. NEXT Financial Group Inc now owns 13,905 shares of the mining company’s stock worth $100,000 after acquiring an additional 6,500 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Cleveland-Cliffs by 19.0% in the 2nd quarter. HighTower Advisors LLC now owns 19,092 shares of the mining company’s stock worth $133,000 after acquiring an additional 3,046 shares during the last quarter. Girard Partners LTD. bought a new stake in shares of Cleveland-Cliffs in the 4th quarter worth about $142,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Cleveland-Cliffs by 8.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 26,167 shares of the mining company’s stock worth $181,000 after acquiring an additional 2,016 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in shares of Cleveland-Cliffs by 743.6% in the 2nd quarter. Advisory Services Network LLC now owns 26,887 shares of the mining company’s stock worth $186,000 after acquiring an additional 23,700 shares during the last quarter. Hedge funds and other institutional investors own 56.74% of the company’s stock.

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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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