Brokerages Set Cleveland-Cliffs Inc. (NYSE:CLF) PT at $15.49

Shares of Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nine brokerages that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $15.49.

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley cut their price objective on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Glj Research decreased their target price on Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, B. Riley reiterated a "buy" rating and issued a $17.00 price objective (down previously from $20.00) on shares of Cleveland-Cliffs in a research report on Wednesday, April 23rd.

Insider Buying and Selling

In other news, EVP Keith Koci acquired 9,500 shares of the company's stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $10.81 per share, with a total value of $102,695.00. Following the completion of the acquisition, the executive vice president now owns 543,475 shares in the company, valued at approximately $5,874,964.75. This represents a 1.78 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jane M. Cronin purchased 10,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $10.56 per share, for a total transaction of $105,600.00. Following the completion of the transaction, the director now owns 24,522 shares in the company, valued at $258,952.32. The trade was a 68.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 23,500 shares of company stock worth $243,095 in the last 90 days. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLF. Hudock Inc. increased its position in Cleveland-Cliffs by 12.3% in the 1st quarter. Hudock Inc. now owns 16,340 shares of the mining company's stock valued at $134,000 after acquiring an additional 1,786 shares in the last quarter. LMG Wealth Partners LLC acquired a new stake in shares of Cleveland-Cliffs during the 1st quarter worth approximately $82,000. Tectonic Advisors LLC raised its position in shares of Cleveland-Cliffs by 40.3% during the 1st quarter. Tectonic Advisors LLC now owns 189,143 shares of the mining company's stock valued at $1,555,000 after acquiring an additional 54,329 shares during the last quarter. Sigma Planning Corp lifted its stake in Cleveland-Cliffs by 32.5% in the first quarter. Sigma Planning Corp now owns 14,026 shares of the mining company's stock valued at $115,000 after buying an additional 3,441 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in Cleveland-Cliffs during the first quarter valued at approximately $3,570,000. Institutional investors and hedge funds own 67.68% of the company's stock.

Cleveland-Cliffs Stock Up 4.1 %

Shares of NYSE:CLF traded up $0.35 on Wednesday, reaching $8.80. The company had a trading volume of 16,226,491 shares, compared to its average volume of 19,582,400. The stock has a 50-day moving average price of $8.64 and a 200 day moving average price of $10.37. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs has a twelve month low of $6.17 and a twelve month high of $18.10. The stock has a market capitalization of $4.35 billion, a P/E ratio of -9.07 and a beta of 1.93.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.03). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.46 billion. On average, equities analysts expect 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.