Cleveland-Cliffs Inc. (NYSE:CLF) Receives Consensus Recommendation of “Hold” from Analysts

Cleveland-Cliffs Inc. (NYSE:CLF) has earned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $16.93.

CLF has been the subject of several research reports. Citigroup reduced their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group initiated coverage on Cleveland-Cliffs in a report on Monday, December 2nd. They issued a “buy” rating and a $16.00 target price for the company. StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a report on Tuesday, January 7th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Hodges Capital Management Inc. raised its stake in Cleveland-Cliffs by 13.4% during the fourth quarter. Hodges Capital Management Inc. now owns 3,316,786 shares of the mining company’s stock worth $31,178,000 after acquiring an additional 391,109 shares in the last quarter. JB Capital LLC raised its stake in Cleveland-Cliffs by 17.3% during the fourth quarter. JB Capital LLC now owns 102,248 shares of the mining company’s stock worth $961,000 after acquiring an additional 15,046 shares in the last quarter. KG&L Capital Management LLC acquired a new position in Cleveland-Cliffs during the fourth quarter worth $108,000. Concord Wealth Partners acquired a new stake in shares of Cleveland-Cliffs in the fourth quarter valued at $122,000. Finally, Hunter Associates Investment Management LLC increased its stake in shares of Cleveland-Cliffs by 271.3% in the fourth quarter. Hunter Associates Investment Management LLC now owns 47,900 shares of the mining company’s stock valued at $451,000 after buying an additional 35,000 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Stock Up 0.6 %

Shares of Cleveland-Cliffs stock opened at $10.01 on Monday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of -10.31 and a beta of 1.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. Cleveland-Cliffs has a 52-week low of $8.99 and a 52-week high of $22.97. The stock has a 50-day simple moving average of $10.65 and a 200-day simple moving average of $12.34.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 earnings per share. On average, equities research analysts expect that Cleveland-Cliffs will post -0.71 earnings per share 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.