Shares of Cleveland-Cliffs Inc (NYSE:CLF) have been given a consensus rating of “Hold” by the fourteen research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $10.00.
A number of analysts have recently weighed in on CLF shares. JPMorgan Chase & Co. lowered Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $6.90 to $10.00 in a research note on Monday, October 23rd. Zacks Investment Research lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. B. Riley reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a research note on Wednesday, November 1st. KeyCorp reaffirmed a “hold” rating on shares of Cleveland-Cliffs in a research note on Friday, November 24th. Finally, ValuEngine lowered Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st.
Cleveland-Cliffs (CLF) traded up $0.55 during trading hours on Wednesday, hitting $7.92. The stock had a trading volume of 23,460,500 shares, compared to its average volume of 16,720,412. The stock has a market capitalization of $2,360.00, a price-to-earnings ratio of -88.00 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 -5.19, a quick ratio of 2.80 and a current ratio of 3.42.
Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Thursday, January 25th. The mining company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. The firm had revenue of $600.90 million during the quarter, compared to analyst estimates of $612.50 million. Cleveland-Cliffs had a negative return on equity of 35.81% and a net margin of 16.09%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 earnings per share. equities research analysts forecast that Cleveland-Cliffs will post 1.04 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in CLF. NEXT Financial Group Inc lifted its position in Cleveland-Cliffs by 87.8% during the fourth quarter. NEXT Financial Group Inc now owns 13,905 shares of the mining company’s stock valued at $100,000 after buying an additional 6,500 shares during the period. Granite Springs Asset Management LLC purchased a new position in Cleveland-Cliffs during the fourth quarter valued at $105,000. Quantitative Investment Management LLC purchased a new position in Cleveland-Cliffs during the fourth quarter valued at $115,000. HighTower Advisors LLC lifted its position in Cleveland-Cliffs by 19.0% during the second quarter. HighTower Advisors LLC now owns 19,092 shares of the mining company’s stock valued at $133,000 after buying an additional 3,046 shares during the period. Finally, Girard Partners LTD. purchased a new position in Cleveland-Cliffs during the fourth quarter valued at $142,000. 57.92% of the stock is owned by institutional investors and hedge funds.
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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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