Cleveland-Cliffs Inc (NYSE:CLF) has been assigned a consensus recommendation of "Buy" from the ten research firms that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $11.73.
A number of research analysts have weighed in on the stock. B. Riley raised their target price on shares of Cleveland-Cliffs from $16.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, January 12th. Zacks Investment Research raised shares of Cleveland-Cliffs from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a research note on Thursday, November 26th. Exane BNP Paribas raised shares of Cleveland-Cliffs from a "neutral" rating to an "outperform" rating in a research note on Monday, January 18th. KeyCorp raised their target price on shares of Cleveland-Cliffs from $17.00 to $20.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 19th. Finally, BNP Paribas raised shares of Cleveland-Cliffs from a "neutral" rating to an "outperform" rating and set a $22.30 target price on the stock in a research note on Tuesday, January 19th.
Institutional investors have recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV increased its holdings in Cleveland-Cliffs by 287.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,480 shares of the mining company's stock valued at $36,000 after purchasing an additional 1,840 shares during the last quarter. Bartlett & Co. LLC acquired a new stake in Cleveland-Cliffs in the 4th quarter valued at approximately $38,000. Founders Capital Management acquired a new stake in Cleveland-Cliffs in the 4th quarter valued at approximately $44,000. Versant Capital Management Inc increased its holdings in Cleveland-Cliffs by 31.7% in the 3rd quarter. Versant Capital Management Inc now owns 5,574 shares of the mining company's stock valued at $35,000 after purchasing an additional 1,342 shares during the last quarter. Finally, Optimum Investment Advisors acquired a new stake in Cleveland-Cliffs in the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 67.60% of the company's stock.
CLF traded down $0.69 during trading on Friday, reaching $15.34. The company's stock had a trading volume of 15,367,580 shares, compared to its average volume of 15,013,882. The company has a quick ratio of 0.69, a current ratio of 2.17 and a debt-to-equity ratio of 3.84. The firm has a fifty day simple moving average of $15.49 and a two-hundred day simple moving average of $9.50. Cleveland-Cliffs has a 1 year low of $2.63 and a 1 year high of $18.77. The company has a market cap of $6.12 billion, a price-to-earnings ratio of -54.79 and a beta of 2.24.
Cleveland-Cliffs Company Profile
Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific. 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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