Cleveland-Cliffs (NYSE:CLF) PT Raised to $28.35 at UBS Group

Cleveland-Cliffs (NYSE:CLF) had its price target lifted by UBS Group from $22.09 to $28.35 in a research note published on Thursday, The Fly reports. The brokerage currently has a buy rating on the mining company’s stock.

Several other analysts also recently commented on CLF. Bank of America initiated coverage on shares of Cleveland-Cliffs in a research report on Monday, May 17th. They set a buy rating and a $25.00 price objective on the stock. BNP Paribas reaffirmed a neutral rating and set a $19.20 price target on shares of Cleveland-Cliffs in a report on Monday, April 26th. The Goldman Sachs Group began coverage on shares of Cleveland-Cliffs in a report on Friday, April 9th. They set a neutral rating and a $20.00 price target on the stock. KeyCorp dropped their price target on shares of Cleveland-Cliffs from $22.00 to $20.00 and set an overweight rating on the stock in a report on Monday, March 8th. Finally, Exane BNP Paribas downgraded shares of Cleveland-Cliffs from an outperform rating to a neutral rating in a report on Monday, April 19th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $22.07.

Shares of CLF stock opened at $22.96 on Thursday. Cleveland-Cliffs has a one year low of $4.92 and a one year high of $24.77. The company’s 50-day moving average price is $19.18. The stock has a market cap of $11.47 billion, a P/E ratio of -191.33, a price-to-earnings-growth ratio of 0.16 and a beta of 2.29. The company has a quick ratio of 0.66, a current ratio of 2.00 and a debt-to-equity ratio of 2.11.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Wednesday, April 21st. The mining company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.14). Cleveland-Cliffs had a negative net margin of 0.32% and a positive return on equity of 10.98%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the company posted ($0.18) earnings per share. The business’s revenue for the quarter was up 1014.2% compared to the same quarter last year. As a group, analysts anticipate that Cleveland-Cliffs will post 4.45 EPS for the current year.

In other news, Director Susan Miranda Green sold 18,000 shares of the stock in a transaction that occurred on Tuesday, May 18th. The shares were sold at an average price of $20.39, for a total value of $367,020.00. Following the transaction, the director now owns 91,082 shares in the company, valued at approximately $1,857,161.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.34% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Arkadios Wealth Advisors bought a new stake in Cleveland-Cliffs during the 4th quarter worth approximately $27,000. Winch Advisory Services LLC bought a new stake in Cleveland-Cliffs during the 1st quarter worth approximately $35,000. Inspire Advisors LLC bought a new stake in Cleveland-Cliffs during the 4th quarter worth approximately $37,000. IFP Advisors Inc raised its stake in Cleveland-Cliffs by 18,470.0% during the 1st quarter. IFP Advisors Inc now owns 1,857 shares of the mining company’s stock worth $37,000 after acquiring an additional 1,847 shares during the period. Finally, Archer Investment Corp bought a new stake in Cleveland-Cliffs during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 64.42% of the company’s stock.

Cleveland-Cliffs Company Profile

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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