Cleveland-Cliffs - CLF Stock Forecast, Price & News

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. Cleveland-Cliffs Inc. was founded in 1847 and is headquartered in Cleveland, Ohio.

Wall Street Analysts Forecast Growth

CLF has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their price objective on shares of Cleveland-Cliffs from $26.00 to $24.00 in a research note on Tuesday, July 12th. Morgan Stanley reduced their price objective on shares of Cleveland-Cliffs from $16.00 to $14.50 and set an "equal weight" rating on the stock in a research note on Monday, July 25th. B. Riley dropped their target price on shares of Cleveland-Cliffs from $47.00 to $39.00 and set a "buy" rating on the stock in a report on Wednesday, July 6th. JPMorgan Chase & Co. dropped their target price on shares of Cleveland-Cliffs from $43.00 to $37.00 in a report on Tuesday, June 14th. Finally, Clarkson Capital reissued a "buy" rating on shares of Cleveland-Cliffs in a report on Tuesday, June 14th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $27.92.

Cleveland-Cliffs Stock Up 2.2 %

CLF Stock opened at $19.66 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 2.20 and a debt-to-equity ratio of 0.67. Cleveland-Cliffs has a fifty-two week low of $14.31 and a fifty-two week high of $34.04. The firm's 50-day simple moving average is $17.07 and its 200 day simple moving average is $22.27. The stock has a market cap of $10.17 billion, a PE ratio of 2.96 and a beta of 2.25.

Cleveland-Cliffs (NYSE:CLF - Get Rating) last released its quarterly earnings data on Friday, July 22nd. The mining company reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $1.40 by ($0.27). Cleveland-Cliffs had a return on equity of 64.45% and a net margin of 15.07%. The firm had revenue of $6.34 billion during the quarter, compared to analyst estimates of $6.13 billion. During the same period last year, the business earned $1.46 EPS. The firm's revenue was up 25.6% on a year-over-year basis. As a group, sell-side analysts predict that Cleveland-Cliffs will post 4.91 EPS for the current year.

Insider Activity at Cleveland-Cliffs

In related news, CFO Celso L. Goncalves, Jr. bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 16th. The stock was purchased at an average price of $19.36 per share, for a total transaction of $96,800.00. Following the transaction, the chief financial officer now directly owns 148,285 shares of the company's stock, valued at approximately $2,870,797.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Douglas C. Taylor sold 28,150 shares of the firm's stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $23.12, for a total transaction of $650,828.00. Following the completion of the transaction, the director now owns 156,974 shares in the company, valued at approximately $3,629,238.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Celso L. Goncalves, Jr. acquired 5,000 shares of Cleveland-Cliffs stock in a transaction dated Tuesday, August 16th. The shares were acquired at an average price of $19.36 per share, with a total value of $96,800.00. Following the transaction, the chief financial officer now owns 148,285 shares in the company, valued at approximately $2,870,797.60. The disclosure for this purchase can be found here. 1.43% of the stock is currently owned by insiders.