Cleveland-Cliffs Inc. (NYSE:CLF – Get Rating) EVP Keith Koci purchased 4,500 shares of the stock in a transaction on Tuesday, April 26th. The shares were purchased at an average price of $27.14 per share, with a total value of $122,130.00. Following the acquisition, the executive vice president now directly owns 290,135 shares in the company, valued at $7,874,263.90. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
NYSE:CLF traded up $0.86 during trading hours on Wednesday, reaching $27.42. 203,613 shares of the company’s stock were exchanged, compared to its average volume of 23,340,859. The firm has a market capitalization of $14.41 billion, a price-to-earnings ratio of 3.88 and a beta of 2.13. The company has a 50-day moving average of $27.50 and a 200 day moving average of $23.31. The company has a quick ratio of 0.69, a current ratio of 2.15 and a debt-to-equity ratio of 0.91. Cleveland-Cliffs Inc. has a 1-year low of $15.81 and a 1-year high of $34.04.
Cleveland-Cliffs (NYSE:CLF – Get Rating) last issued its quarterly earnings results on Friday, April 22nd. The mining company reported $1.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.82 by ($0.32). The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.43 billion. Cleveland-Cliffs had a return on equity of 80.10% and a net margin of 14.62%. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. Research analysts forecast that Cleveland-Cliffs Inc. will post 5.32 EPS for the current fiscal year.
CLF has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Cleveland-Cliffs from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, March 22nd. TheStreet downgraded shares of Cleveland-Cliffs from a “b-” rating to a “c+” rating in a research report on Tuesday, March 1st. Credit Suisse Group increased their price objective on shares of Cleveland-Cliffs from $34.00 to $37.00 in a research report on Tuesday, April 19th. B. Riley increased their price objective on shares of Cleveland-Cliffs from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Monday. Finally, Zacks Investment Research raised shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research report on Tuesday, January 4th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $30.99.
About Cleveland-Cliffs (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Cleveland-Cliffs (CLF)
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