Shares of Cleveland-Cliffs Inc (NYSE:CLF) have received an average recommendation of “Buy” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $12.67.
CLF has been the topic of several recent analyst reports. ValuEngine upgraded Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Cowen restated a “market perform” rating and set a $11.00 price objective (up from $8.50) on shares of Cleveland-Cliffs in a research note on Thursday, February 7th. Citigroup raised their price objective on Cleveland-Cliffs to $13.00 and gave the company a “buy” rating in a research note on Friday, February 8th. Jefferies Financial Group raised their price objective on Cleveland-Cliffs from $11.50 to $13.75 and gave the company a “buy” rating in a research note on Friday, February 8th. Finally, JPMorgan Chase & Co. raised their price objective on Cleveland-Cliffs to $17.00 and gave the company an “overweight” rating in a research note on Monday, February 11th.
In other Cleveland-Cliffs news, Director Michael D. Siegal bought 7,500 shares of the stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $9.76 per share, for a total transaction of $73,200.00. Following the purchase, the director now directly owns 75,271 shares of the company’s stock, valued at approximately $734,644.96. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Keith Koci bought 9,000 shares of the stock in a transaction dated Wednesday, February 27th. The shares were acquired at an average price of $11.52 per share, for a total transaction of $103,680.00. Following the completion of the purchase, the chief financial officer now directly owns 39,349 shares in the company, valued at $453,300.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 21,500 shares of company stock worth $225,380. Company insiders own 1.32% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLF. First Trust Advisors LP increased its holdings in Cleveland-Cliffs by 74.4% in the 4th quarter. First Trust Advisors LP now owns 389,985 shares of the mining company’s stock worth $2,999,000 after acquiring an additional 166,416 shares during the last quarter. Rhumbline Advisers increased its holdings in Cleveland-Cliffs by 40.5% in the 4th quarter. Rhumbline Advisers now owns 438,529 shares of the mining company’s stock worth $3,372,000 after acquiring an additional 126,374 shares during the last quarter. Legal & General Group Plc increased its holdings in Cleveland-Cliffs by 4.4% in the 4th quarter. Legal & General Group Plc now owns 271,819 shares of the mining company’s stock worth $2,091,000 after acquiring an additional 11,546 shares during the last quarter. Alpha Windward LLC purchased a new stake in Cleveland-Cliffs in the 4th quarter worth about $372,000. Finally, D.A. Davidson & CO. increased its holdings in Cleveland-Cliffs by 26.6% in the 4th quarter. D.A. Davidson & CO. now owns 32,959 shares of the mining company’s stock worth $253,000 after acquiring an additional 6,925 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.
Shares of CLF traded down $0.04 during trading hours on Friday, reaching $10.02. The stock had a trading volume of 8,279,864 shares, compared to its average volume of 10,770,428. Cleveland-Cliffs has a 12 month low of $7.40 and a 12 month high of $13.10. The company has a quick ratio of 1.82, a current ratio of 2.86 and a debt-to-equity ratio of 7.97. The stock has a market cap of $2.83 billion, a P/E ratio of 4.70 and a beta of 1.78.
Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Thursday, April 25th. The mining company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. Cleveland-Cliffs had a return on equity of 786.91% and a net margin of 51.54%. The company had revenue of $157.00 million for the quarter, compared to analysts’ expectations of $116.91 million. During the same period last year, the business earned ($0.08) EPS. Cleveland-Cliffs’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, analysts expect that Cleveland-Cliffs will post 1.68 EPS for the current year.
Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.
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