ValuEngine cut shares of Cleveland-Cliffs (NYSE:CLF) from a buy rating to a hold rating in a research report sent to investors on Friday morning.
Several other research firms have also recently commented on CLF. KeyCorp reiterated a hold rating on shares of Cleveland-Cliffs in a research note on Friday, November 24th. Zacks Investment Research upgraded shares of Cleveland-Cliffs from a hold rating to a buy rating and set a $8.25 target price for the company in a research note on Tuesday, December 26th. Cowen set a $7.00 target price on shares of Cleveland-Cliffs and gave the company a hold rating in a research note on Tuesday, October 17th. JPMorgan Chase & Co. cut shares of Cleveland-Cliffs from an overweight rating to a neutral rating and upped their target price for the company from $6.90 to $10.00 in a research note on Monday, October 23rd. Finally, B. Riley set a $10.00 target price on shares of Cleveland-Cliffs and gave the company a buy rating in a research note on Friday, November 17th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $9.63.
Cleveland-Cliffs (CLF) opened at $6.45 on Friday. The company has a market cap of $1,910.00, a price-to-earnings ratio of 4.96 and a beta of 1.58. Cleveland-Cliffs has a one year low of $5.56 and a one year high of $12.37. 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 released its earnings results on Thursday, January 25th. The mining company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.11. The firm had revenue of $600.90 million during the quarter, compared to analysts’ expectations of $612.50 million. Cleveland-Cliffs had a net margin of 16.09% and a negative return on equity of 35.92%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. equities analysts predict that Cleveland-Cliffs will post 1.02 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in CLF. Prudential Financial Inc. raised its stake in shares of Cleveland-Cliffs by 8.9% in the 2nd quarter. Prudential Financial Inc. now owns 30,622 shares of the mining company’s stock valued at $212,000 after buying an additional 2,490 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Cleveland-Cliffs by 9.6% in the 2nd quarter. Principal Financial Group Inc. now owns 176,400 shares of the mining company’s stock valued at $1,220,000 after buying an additional 15,511 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Cleveland-Cliffs by 1.7% in the 2nd quarter. Teachers Advisors LLC now owns 542,655 shares of the mining company’s stock valued at $3,755,000 after buying an additional 9,316 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Cleveland-Cliffs by 201.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 104,656 shares of the mining company’s stock valued at $724,000 after buying an additional 69,979 shares in the last quarter. Finally, Nationwide Fund Advisors raised its stake in shares of Cleveland-Cliffs by 19.8% in the 2nd quarter. Nationwide Fund Advisors now owns 341,299 shares of the mining company’s stock valued at $2,362,000 after buying an additional 56,526 shares in the last quarter. Institutional investors own 57.14% 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.
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