Cleveland-Cliffs Inc. (NYSE:CLF) Receives Consensus Rating of "Hold" from Analysts

Shares of Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) have been assigned a consensus recommendation of "Hold" from the seven research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $12.03.

CLF has been the subject of a number of analyst reports. Glj Research cut Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 price objective for the company. in a research note on Wednesday, May 28th. B. Riley reissued a "buy" rating and set a $17.00 price target (down from $20.00) on shares of Cleveland-Cliffs in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group lowered their price target on shares of Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating on the stock in a report on Monday, May 12th.

Insider Buying and Selling at Cleveland-Cliffs

In other Cleveland-Cliffs news, EVP James D. Graham sold 120,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $6.85, for a total value of $822,000.00. Following the sale, the executive vice president now directly owns 492,249 shares of the company's stock, valued at approximately $3,371,905.65. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Slate Path Capital LP raised its position in Cleveland-Cliffs by 35.4% during the fourth quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company's stock worth $152,355,000 after acquiring an additional 4,239,000 shares during the period. Bank of New York Mellon Corp raised its position in shares of Cleveland-Cliffs by 20.1% during the 4th quarter. Bank of New York Mellon Corp now owns 7,382,769 shares of the mining company's stock worth $69,398,000 after purchasing an additional 1,236,247 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Cleveland-Cliffs by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company's stock worth $458,267,000 after purchasing an additional 2,556,332 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Cleveland-Cliffs by 22.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,298,868 shares of the mining company's stock worth $12,209,000 after buying an additional 242,386 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cleveland-Cliffs during the 4th quarter worth approximately $4,432,000. Hedge funds and other institutional investors own 67.68% of the company's stock.

Cleveland-Cliffs Stock Performance

Shares of NYSE:CLF opened at $7.33 on Thursday. The firm's 50 day simple moving average is $7.42 and its 200-day simple moving average is $9.12. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.64 and a current ratio of 2.13. Cleveland-Cliffs has a one year low of $5.63 and a one year high of $16.47. The firm has a market cap of $3.63 billion, a PE ratio of -3.00 and a beta of 1.85.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The mining company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.14). Cleveland-Cliffs had a negative return on equity of 12.84% and a negative net margin of 6.35%. The firm had revenue of $4.63 billion for the quarter, compared to analysts' expectations of $4.71 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. The company's revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, equities analysts predict that Cleveland-Cliffs will post -0.79 EPS for the current year.

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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