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

Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) has been given an average rating of "Hold" by the eleven research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $12.06.

CLF has been the topic of a number of research analyst reports. Morgan Stanley restated an "equal weight" rating and issued a $12.50 target price (up from $12.00) on shares of Cleveland-Cliffs in a research note on Monday, June 22nd. Citigroup reaffirmed a "positive" rating on shares of Cleveland-Cliffs in a research note on Friday, July 24th. Barclays boosted their price target on Cleveland-Cliffs from $9.00 to $10.00 and gave the company an "underweight" rating in a report on Friday, July 24th. JPMorgan Chase & Co. upped their target price on Cleveland-Cliffs from $11.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Wells Fargo & Company increased their price target on Cleveland-Cliffs from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Monday, August 24th.

Cleveland-Cliffs Stock Up 2.0%

NYSE:CLF opened at $12.06 on Friday. The company has a market cap of $6.88 billion, a price-to-earnings ratio of -7.45 and a beta of 2.10. Cleveland-Cliffs has a twelve month low of $7.73 and a twelve month high of $16.70. The company has a current ratio of 1.89, a quick ratio of 0.63 and a debt-to-equity ratio of 1.32. The stock has a fifty day simple moving average of $11.27 and a 200-day simple moving average of $10.75.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The mining company reported ($0.20) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.01. The firm had revenue of $5.23 billion for the quarter, compared to analysts' expectations of $5.15 billion. Cleveland-Cliffs had a negative net margin of 4.56% and a negative return on equity of 13.37%. The business's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.50) earnings per share. Analysts anticipate that Cleveland-Cliffs will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC bought a new stake in shares of Cleveland-Cliffs in the 4th quarter valued at about $25,000. Center for Financial Planning Inc. lifted its position in shares of Cleveland-Cliffs by 119.0% in the 1st quarter. Center for Financial Planning Inc. now owns 3,322 shares of the mining company's stock worth $28,000 after purchasing an additional 1,805 shares during the period. IFP Advisors Inc boosted its stake in shares of Cleveland-Cliffs by 117.5% during the fourth quarter. IFP Advisors Inc now owns 2,221 shares of the mining company's stock valued at $29,000 after purchasing an additional 1,200 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Cleveland-Cliffs during the second quarter valued at approximately $30,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Cleveland-Cliffs by 94.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,505 shares of the mining company's stock valued at $33,000 after buying an additional 1,214 shares during the period. 67.68% of the stock is currently owned by institutional investors.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is a vertically integrated steel producer headquartered in Cleveland, Ohio. The company mines and processes iron ore, produces iron ore pellets, and manufactures steel products for customers primarily in North America. Its operations include integrated steel mills, electric arc furnaces, finishing facilities, and related processing and distribution capabilities.

The company produces a broad range of flat-rolled carbon steel products, including hot-rolled, cold-rolled, and coated steel.

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