Cleveland-Cliffs Inc. (NYSE:CLF) Receives $17.56 Average Price Target from Analysts

by · The Markets Daily

Shares of Cleveland-Cliffs Inc. (NYSE:CLF – Get Free Report) have been assigned a consensus recommendation of “Hold” from the ten research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $17.56.

A number of analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Seaport Res Ptn upgraded shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. B. Riley reiterated a “buy” rating and issued a $23.00 target price on shares of Cleveland-Cliffs in a research note on Tuesday, June 25th. Bank of America lowered their target price on shares of Cleveland-Cliffs from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Finally, Citigroup reduced their price target on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th.

View Our Latest Report on Cleveland-Cliffs

Cleveland-Cliffs Stock Up 1.3 %

Shares of Cleveland-Cliffs stock opened at $13.05 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.87 and a quick ratio of 0.60. Cleveland-Cliffs has a 1 year low of $10.21 and a 1 year high of $22.97. The firm’s 50-day moving average is $12.55 and its two-hundred day moving average is $15.48. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 17.64 and a beta of 1.98.

Cleveland-Cliffs (NYSE:CLF – Get Free Report) last released its quarterly earnings results on Monday, July 22nd. The mining company reported $0.11 earnings per share for the quarter. Cleveland-Cliffs had a net margin of 0.21% and a return on equity of 4.94%. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same period last year, the business earned $0.69 EPS. The company’s revenue was down 14.9% compared to the same quarter last year. As a group, research analysts expect that Cleveland-Cliffs will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cleveland-Cliffs

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hodges Capital Management Inc. boosted its position in shares of Cleveland-Cliffs by 5.0% during the 2nd quarter. Hodges Capital Management Inc. now owns 2,199,634 shares of the mining company’s stock valued at $33,852,000 after acquiring an additional 104,197 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Cleveland-Cliffs by 2.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 40,118 shares of the mining company’s stock valued at $879,000 after acquiring an additional 984 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Cleveland-Cliffs by 82.2% during the 1st quarter. Russell Investments Group Ltd. now owns 392,842 shares of the mining company’s stock valued at $8,932,000 after acquiring an additional 177,198 shares during the last quarter. Natixis acquired a new position in shares of Cleveland-Cliffs during the 1st quarter valued at about $100,000. Finally, Mediolanum International Funds Ltd acquired a new position in shares of Cleveland-Cliffs during the 1st quarter valued at about $1,687,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Company Profile

(Get Free Report

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. 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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