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

Cleveland-Cliffs Inc. (NYSE:CLF) has been assigned a consensus recommendation of “Hold” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $13.8020.

CLF has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cleveland-Cliffs in a research note on Tuesday. UBS Group set a $15.00 price objective on shares of Cleveland-Cliffs in a report on Monday, October 27th. Morgan Stanley upgraded shares of Cleveland-Cliffs from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $12.80 to $17.00 in a report on Friday, January 9th. JPMorgan Chase & Co. increased their target price on shares of Cleveland-Cliffs from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Finally, The Goldman Sachs Group lifted their price target on shares of Cleveland-Cliffs from $14.50 to $16.00 and gave the stock a “buy” rating in a research note on Friday, October 31st.

Institutional Trading of Cleveland-Cliffs

Large investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its stake in shares of Cleveland-Cliffs by 0.9% during the third quarter. Oregon Public Employees Retirement Fund now owns 99,649 shares of the mining company’s stock worth $1,216,000 after purchasing an additional 900 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Cleveland-Cliffs by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 152,009 shares of the mining company’s stock valued at $1,855,000 after buying an additional 943 shares during the period. Moors & Cabot Inc. raised its position in Cleveland-Cliffs by 3.0% during the 3rd quarter. Moors & Cabot Inc. now owns 33,118 shares of the mining company’s stock worth $404,000 after buying an additional 960 shares during the last quarter. Whitcomb & Hess Inc. lifted its stake in shares of Cleveland-Cliffs by 3.8% in the 4th quarter. Whitcomb & Hess Inc. now owns 26,752 shares of the mining company’s stock worth $357,000 after acquiring an additional 973 shares during the period. Finally, Cidel Asset Management Inc. lifted its stake in shares of Cleveland-Cliffs by 6.0% in the 4th quarter. Cidel Asset Management Inc. now owns 18,185 shares of the mining company’s stock worth $242,000 after acquiring an additional 1,037 shares during the period. 67.68% of the stock is owned by institutional investors and hedge funds.

Cleveland-Cliffs Stock Up 0.9%

Shares of NYSE CLF opened at $14.18 on Friday. The business has a 50-day moving average of $13.26 and a two-hundred day moving average of $12.04. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of -4.17 and a beta of 1.91. Cleveland-Cliffs has a 1 year low of $5.63 and a 1 year high of $16.70. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.04 and a quick ratio of 0.61.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.