Cleveland-Cliffs Inc (NYSE:CLF) has been given an average rating of “Hold” by the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $10.25.
A number of analysts recently commented on CLF shares. B. Riley reiterated a “buy” rating and set a $11.00 price objective on shares of Cleveland-Cliffs in a research report on Friday, January 26th. Zacks Investment Research upgraded Cleveland-Cliffs from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research report on Thursday, January 4th. ValuEngine upgraded Cleveland-Cliffs from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Finally, KeyCorp reiterated a “hold” rating on shares of Cleveland-Cliffs in a research report on Friday, November 24th.
Cleveland-Cliffs (CLF) traded up $0.24 during trading on Friday, reaching $7.51. The company had a trading volume of 9,949,499 shares, compared to its average volume of 15,095,178. The stock has a market cap of $2,240.00, a PE ratio of -83.44 and a beta of 1.48. Cleveland-Cliffs has a 1 year low of $5.56 and a 1 year high of $9.52. The company has a current ratio of 3.42, a quick ratio of 2.80 and a debt-to-equity ratio of -5.19.
Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Thursday, January 25th. The mining company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates 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 negative return on equity of 35.81% and a net margin of 16.09%. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. equities research analysts predict that Cleveland-Cliffs will post 1.15 EPS for the current fiscal year.
In other Cleveland-Cliffs news, Director Susan Miranda Green sold 11,305 shares of Cleveland-Cliffs stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $7.62, for a total value of $86,144.10. Following the completion of the sale, the director now owns 60,367 shares in the company, valued at approximately $459,996.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in shares of Cleveland-Cliffs by 4.0% in the 4th quarter. BlackRock Inc. now owns 20,192,937 shares of the mining company’s stock valued at $145,592,000 after purchasing an additional 774,210 shares in the last quarter. Luminus Management LLC lifted its stake in shares of Cleveland-Cliffs by 23.9% in the 4th quarter. Luminus Management LLC now owns 3,754,600 shares of the mining company’s stock valued at $27,071,000 after purchasing an additional 725,400 shares in the last quarter. Gendell Jeffrey L lifted its stake in shares of Cleveland-Cliffs by 5.6% in the 4th quarter. Gendell Jeffrey L now owns 3,236,976 shares of the mining company’s stock valued at $23,339,000 after purchasing an additional 170,332 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Cleveland-Cliffs by 23.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,909,955 shares of the mining company’s stock valued at $13,770,000 after purchasing an additional 367,940 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Cleveland-Cliffs by 10.4% in the 4th quarter. California Public Employees Retirement System now owns 1,864,984 shares of the mining company’s stock valued at $13,447,000 after purchasing an additional 175,516 shares in the last quarter. Institutional investors own 60.71% 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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