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

Key Points

• Cleveland-Cliffs Inc. has a consensus rating of "Hold" from nine analysts, with one sell rating, five hold ratings, and three buy ratings.
• The average one-year price target among analysts for Cleveland-Cliffs stock is $11.24, and the stock has recently traded at $12.36.
• In their latest earnings report, Cleveland-Cliffs posted a loss of ($0.50) EPS, exceeding analysts' estimates, with a revenue of $4.93 billion for the quarter.

Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) has received a consensus recommendation of "Hold" from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $11.24.

A number of equities research analysts have recently issued reports on CLF shares. KeyCorp upgraded shares of Cleveland-Cliffs from a "sector weight" rating to an "overweight" rating and set a $14.00 price target on the stock in a report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price objective on Cleveland-Cliffs from $7.50 to $10.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wells Fargo & Company raised their price target on shares of Cleveland-Cliffs from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, September 15th. Citigroup boosted their price target on shares of Cleveland-Cliffs from $7.50 to $11.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, Morgan Stanley raised their price target on Cleveland-Cliffs from $8.00 to $10.50 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd.

Cleveland-Cliffs Trading Up 2.4%

Cleveland-Cliffs stock opened at $12.36 on Friday. Cleveland-Cliffs has a 1 year low of $5.63 and a 1 year high of $14.34. The firm's 50 day moving average price is $10.81 and its two-hundred day moving average price is $8.94. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of -3.62 and a beta of 1.93. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.61 and a current ratio of 2.04.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last issued its earnings results on Monday, July 21st. The mining company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.68) by $0.18. Cleveland-Cliffs had a negative return on equity of 17.97% and a negative net margin of 9.03%.The business had revenue of $4.93 billion for the quarter, compared to analysts' expectations of $4.90 billion. During the same period in the previous year, the firm posted $0.11 EPS. The company's quarterly revenue was up 7.5% on a year-over-year basis. On average, research analysts predict that Cleveland-Cliffs will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Cleveland-Cliffs

A number of large investors have recently bought and sold shares of CLF. Trust Co. of Toledo NA OH acquired a new stake in shares of Cleveland-Cliffs in the second quarter worth about $27,000. Atwood & Palmer Inc. acquired a new stake in shares of Cleveland-Cliffs in the second quarter worth $27,000. Winch Advisory Services LLC boosted its holdings in shares of Cleveland-Cliffs by 131.3% during the 2nd quarter. Winch Advisory Services LLC now owns 4,070 shares of the mining company's stock worth $31,000 after buying an additional 2,310 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Cleveland-Cliffs in the 1st quarter valued at $36,000. Finally, Islay Capital Management LLC acquired a new stake in shares of Cleveland-Cliffs in the second quarter valued at about $38,000. 67.68% of the stock is currently owned by institutional investors.

About Cleveland-Cliffs

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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