Cleveland-Cliffs Inc. (NYSE:CLF) Given Consensus Rating of "Moderate Buy" by Analysts

Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $21.36.

A number of analysts recently commented on CLF shares. B. Riley dropped their price target on Cleveland-Cliffs from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, September 27th. StockNews.com initiated coverage on Cleveland-Cliffs in a research note on Thursday, October 5th. They issued a "hold" rating on the stock. Morgan Stanley boosted their target price on Cleveland-Cliffs from $19.00 to $21.50 and gave the company an "overweight" rating in a research note on Tuesday, October 31st. TheStreet upgraded Cleveland-Cliffs from a "c" rating to a "b-" rating in a research report on Wednesday, November 29th. Finally, Citigroup upgraded Cleveland-Cliffs from a "neutral" rating to a "buy" rating and set a $22.00 price target for the company in a research report on Monday, September 25th.

Hedge Funds Weigh In On Cleveland-Cliffs

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Stonebridge Capital Advisors LLC boosted its holdings in shares of Cleveland-Cliffs by 20.0% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 3,600 shares of the mining company's stock worth $58,000 after purchasing an additional 600 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Cleveland-Cliffs by 2.3% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 27,337 shares of the mining company's stock valued at $427,000 after acquiring an additional 609 shares during the last quarter. Cibc World Market Inc. lifted its stake in shares of Cleveland-Cliffs by 1.1% in the 1st quarter. Cibc World Market Inc. now owns 58,149 shares of the mining company's stock valued at $1,873,000 after acquiring an additional 623 shares during the last quarter. Commerce Bank lifted its stake in shares of Cleveland-Cliffs by 2.6% in the 2nd quarter. Commerce Bank now owns 26,323 shares of the mining company's stock valued at $441,000 after acquiring an additional 656 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its stake in shares of Cleveland-Cliffs by 0.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 103,397 shares of the mining company's stock valued at $1,616,000 after acquiring an additional 674 shares during the last quarter. 60.97% of the stock is currently owned by hedge funds and other institutional investors.

Cleveland-Cliffs Stock Down 0.9 %

CLF stock opened at $18.70 on Friday. Cleveland-Cliffs has a twelve month low of $13.61 and a twelve month high of $22.83. The company has a quick ratio of 0.71, a current ratio of 2.11 and a debt-to-equity ratio of 0.42. The stock's 50 day moving average is $16.63 and its 200-day moving average is $16.03. The firm has a market capitalization of $9.44 billion, a PE ratio of 27.91 and a beta of 2.10.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its earnings results on Tuesday, October 24th. The mining company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.10. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.58 billion. Cleveland-Cliffs had a return on equity of 5.16% and a net margin of 1.55%. The company's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share. Sell-side analysts expect that Cleveland-Cliffs will post 1.11 EPS for the current fiscal 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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