Cleveland-Cliffs Inc. (NYSE:CLF) Receives $12.78 Average Price Target from Analysts

by · The Markets Daily

Shares of Cleveland-Cliffs Inc. (NYSE:CLF – Get Free Report) have received an average rating of “Hold” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $12.7750.

Several research firms recently issued reports on CLF. Citigroup dropped their target price on Cleveland-Cliffs from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a research report on Thursday, October 30th. KeyCorp dropped their price objective on Cleveland-Cliffs from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. The Goldman Sachs Group increased their price objective on Cleveland-Cliffs from $14.50 to $16.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cleveland-Cliffs from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, October 13th.

Read Our Latest Report on Cleveland-Cliffs

Cleveland-Cliffs Stock Performance

Shares of CLF opened at $12.77 on Thursday. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of -3.75 and a beta of 1.97. Cleveland-Cliffs has a 12 month low of $5.63 and a 12 month high of $16.70. The firm has a fifty day simple moving average of $12.45 and a 200 day simple moving average of $10.75. The company has a current ratio of 2.04, a quick ratio of 0.61 and a debt-to-equity ratio of 1.41.

Cleveland-Cliffs (NYSE:CLF – Get Free Report) last issued its quarterly earnings results on Monday, October 20th. The mining company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.03. Cleveland-Cliffs had a negative net margin of 9.00% and a negative return on equity of 20.02%. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the firm posted ($0.33) EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts forecast that Cleveland-Cliffs will post -0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Strengthening Families & Communities LLC lifted its stake in Cleveland-Cliffs by 4,315.6% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after purchasing an additional 1,942 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in Cleveland-Cliffs in the second quarter valued at approximately $27,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Cleveland-Cliffs in the second quarter valued at approximately $27,000. Winch Advisory Services LLC boosted its stake in shares of Cleveland-Cliffs by 131.3% during the 2nd quarter. Winch Advisory Services LLC now owns 4,070 shares of the mining company’s stock worth $31,000 after acquiring an additional 2,310 shares during the period. Finally, Larson Financial Group LLC increased its holdings in shares of Cleveland-Cliffs by 819.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,684 shares of the mining company’s stock worth $33,000 after acquiring an additional 2,392 shares during the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

About Cleveland-Cliffs

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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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