Cleveland-Cliffs (CLF) Earns Sell Rating from Analysts at Vertical Group

Analysts at Vertical Group began coverage on shares of Cleveland-Cliffs (NYSE:CLF) in a report released on Friday. The firm set a “sell” rating on the mining company’s stock.

CLF has been the subject of several other research reports. B. Riley reaffirmed a “buy” rating and set a $11.00 price target (up previously from $10.00) on shares of Cleveland-Cliffs in a research note on Friday, January 5th. Zacks Investment Research downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. ValuEngine downgraded shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. FBR & Co reaffirmed a “buy” rating and set a $10.00 price target on shares of Cleveland-Cliffs in a research note on Friday, October 20th. Finally, JPMorgan Chase & Co. downgraded shares of Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $6.90 to $10.00 in a research note on Monday, October 23rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Cleveland-Cliffs presently has a consensus rating of “Hold” and an average price target of $9.29.

Shares of Cleveland-Cliffs (CLF) opened at $8.41 on Friday. The company has a debt-to-equity ratio of -2.03, a quick ratio of 1.18 and a current ratio of 1.89. Cleveland-Cliffs has a 12 month low of $5.56 and a 12 month high of $12.37. The firm has a market cap of $2,490.00, a P/E ratio of 13.14 and a beta of 1.61.

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

Large investors have recently modified their holdings of the stock. NEXT Financial Group Inc raised its stake in Cleveland-Cliffs by 87.8% in the fourth quarter. NEXT Financial Group Inc now owns 13,905 shares of the mining company’s stock worth $100,000 after buying an additional 6,500 shares in the last quarter. Comerica Bank raised its stake in Cleveland-Cliffs by 49.5% in the second quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock worth $116,000 after buying an additional 5,129 shares in the last quarter. Moors & Cabot Inc. bought a new position in Cleveland-Cliffs in the second quarter worth 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 worth $128,000 after purchasing an additional 15,428 shares in 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 worth $133,000 after purchasing an additional 3,046 shares in the last quarter. 56.74% of the stock is owned by institutional investors.

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About Cleveland-Cliffs

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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