Cleveland-Cliffs Inc. (NYSE:CLF) Receives Average Rating of “Hold” from Brokerages

Cleveland-Cliffs Inc. (NYSE:CLF) has been assigned an average recommendation of “Hold” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $13.8920.

A number of analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cleveland-Cliffs in a research note on Tuesday, January 27th. The Goldman Sachs Group reiterated a “buy” rating and set a $15.00 price target on shares of Cleveland-Cliffs in a report on Monday, February 9th. Citigroup boosted their price objective on shares of Cleveland-Cliffs from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Glj Research lowered their price objective on Cleveland-Cliffs from $9.52 to $9.42 and set a “sell” rating on the stock in a research report on Tuesday, February 10th. Finally, Morgan Stanley upgraded Cleveland-Cliffs from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $12.80 to $17.00 in a research note on Friday, January 9th.

Insider Activity at Cleveland-Cliffs

In other news, COO Clifford T. Smith sold 200,000 shares of Cleveland-Cliffs stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $10.46, for a total value of $2,092,000.00. Following the completion of the sale, the chief operating officer directly owned 560,529 shares in the company, valued at $5,863,133.34. The trade was a 26.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edilson Camara acquired 19,700 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were bought at an average cost of $10.13 per share, with a total value of $199,561.00. Following the completion of the acquisition, the director directly owned 41,983 shares of the company’s stock, valued at $425,287.79. The trade was a 88.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cleveland-Cliffs

A number of large investors have recently added to or reduced their stakes in the stock. Strengthening Families & Communities LLC raised its stake in Cleveland-Cliffs by 4,315.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after buying an additional 1,942 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Cleveland-Cliffs during the fourth quarter valued at $25,000. IFP Advisors Inc lifted its holdings in Cleveland-Cliffs by 117.5% in the fourth quarter. IFP Advisors Inc now owns 2,221 shares of the mining company’s stock valued at $29,000 after acquiring an additional 1,200 shares during the period. CIBC Private Wealth Group LLC boosted its position in Cleveland-Cliffs by 306.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,461 shares of the mining company’s stock worth $33,000 after purchasing an additional 1,855 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Cleveland-Cliffs by 94.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,505 shares of the mining company’s stock valued at $33,000 after purchasing an additional 1,214 shares during the period. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Down 3.7%

Cleveland-Cliffs stock opened at $10.65 on Tuesday. Cleveland-Cliffs has a 12 month low of $5.63 and a 12 month high of $16.70. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of -3.65 and a beta of 1.93. The business’s fifty day simple moving average is $12.92 and its two-hundred day simple moving average is $12.31. The company has a current ratio of 1.95, a quick ratio of 0.50 and a debt-to-equity ratio of 1.15.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Monday, February 9th. The mining company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.19. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.60 billion. Cleveland-Cliffs had a negative return on equity of 18.94% and a negative net margin of 7.91%.The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the company earned ($0.68) earnings per share. As a group, equities analysts predict that Cleveland-Cliffs will post -0.79 earnings per share for the current fiscal year.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.