Cleveland-Cliffs (NYSE:CLF) Price Target Lowered to $12.90 at Glj Research

Cleveland-Cliffs (NYSE:CLF) had its price target reduced by Glj Research from $14.54 to $12.90 in a research report sent to investors on Thursday,Benzinga reports. Glj Research currently has a buy rating on the mining company’s stock.

Other equities research analysts have also recently issued reports about the company. Citigroup reduced their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Morgan Stanley cut their price target on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. The Goldman Sachs Group started coverage on Cleveland-Cliffs in a report on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective on the stock. B. Riley reissued a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Finally, StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.54.

Cleveland-Cliffs Trading Up 1.2 %

CLF stock opened at $10.70 on Thursday. 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 1-year low of $8.99 and a 1-year high of $22.97. The business has a 50 day simple moving average of $10.31 and a two-hundred day simple moving average of $11.66. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of -11.03 and a beta of 1.96.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.03). The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.46 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. Research analysts anticipate that Cleveland-Cliffs will post -0.79 EPS for the current fiscal year.

Institutional Trading of Cleveland-Cliffs

A number of institutional investors have recently bought and sold shares of the stock. Fairfax Financial Holdings Ltd. Can purchased a new stake in shares of Cleveland-Cliffs in the fourth quarter valued at $55,453,000. Norges Bank bought a new position in Cleveland-Cliffs during the 4th quarter valued at about $45,381,000. Slate Path Capital LP grew its holdings in Cleveland-Cliffs by 35.4% during the 4th quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company’s stock valued at $152,355,000 after purchasing an additional 4,239,000 shares during the last quarter. Pacer Advisors Inc. raised its position in Cleveland-Cliffs by 13.7% in the 3rd quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock worth $330,665,000 after purchasing an additional 3,110,651 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Cleveland-Cliffs by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company’s stock worth $458,267,000 after purchasing an additional 2,556,332 shares during the last quarter. 67.68% of the stock is currently owned by institutional investors.

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.