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

Shares of Cleveland-Cliffs Inc. (NYSE:CLFGet Rating) have earned an average rating of “Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $31.65.

A number of brokerages recently commented on CLF. B. Riley boosted their price objective on shares of Cleveland-Cliffs from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, April 25th. JPMorgan Chase & Co. boosted their price objective on shares of Cleveland-Cliffs from $37.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, March 24th. Credit Suisse Group boosted their price objective on shares of Cleveland-Cliffs from $34.00 to $37.00 in a research note on Tuesday, April 19th. TheStreet downgraded Cleveland-Cliffs from a “b-” rating to a “c+” rating in a research report on Tuesday, March 1st. Finally, The Goldman Sachs Group upped their price target on Cleveland-Cliffs from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, March 22nd.

In other Cleveland-Cliffs news, CFO Celso L. Goncalves, Jr. purchased 4,000 shares of the stock in a transaction on Friday, April 29th. The shares were bought at an average cost of $26.32 per share, with a total value of $105,280.00. Following the completion of the acquisition, the chief financial officer now owns 143,285 shares in the company, valued at $3,771,261.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Keith Koci purchased 4,600 shares of the stock in a transaction on Wednesday, May 11th. The stock was acquired at an average cost of $22.38 per share, for a total transaction of $102,948.00. Following the completion of the acquisition, the executive vice president now owns 294,735 shares of the company’s stock, valued at approximately $6,596,169.30. The disclosure for this purchase can be found here. Insiders have bought 13,100 shares of company stock worth $330,358 over the last three months. Corporate insiders own 1.43% of the company’s stock.

Large investors have recently bought and sold shares of the business. Capital Investment Advisory Services LLC boosted its stake in shares of Cleveland-Cliffs by 3.5% during the 1st quarter. Capital Investment Advisory Services LLC now owns 11,740 shares of the mining company’s stock worth $378,000 after acquiring an additional 400 shares in the last quarter. Advisor Partners LLC raised its position in shares of Cleveland-Cliffs by 2.5% during the 1st quarter. Advisor Partners LLC now owns 17,819 shares of the mining company’s stock worth $574,000 after purchasing an additional 431 shares during the last quarter. Pekin Hardy Strauss Inc. raised its position in shares of Cleveland-Cliffs by 2.1% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 23,800 shares of the mining company’s stock worth $471,000 after purchasing an additional 500 shares during the last quarter. Veritable L.P. raised its position in shares of Cleveland-Cliffs by 5.2% during the 3rd quarter. Veritable L.P. now owns 10,399 shares of the mining company’s stock worth $206,000 after purchasing an additional 518 shares during the last quarter. Finally, Commerce Bank raised its position in shares of Cleveland-Cliffs by 2.7% during the 4th quarter. Commerce Bank now owns 21,728 shares of the mining company’s stock worth $473,000 after purchasing an additional 567 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors.

Cleveland-Cliffs stock opened at $21.79 on Friday. The company has a 50 day moving average price of $27.85 and a 200-day moving average price of $23.41. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 2.28. Cleveland-Cliffs has a fifty-two week low of $15.81 and a fifty-two week high of $34.04. The company has a market capitalization of $11.43 billion, a PE ratio of 3.18 and a beta of 2.16.

Cleveland-Cliffs (NYSE:CLFGet Rating) last issued its quarterly earnings data on Friday, April 22nd. The mining company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.27. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.43 billion. Cleveland-Cliffs had a net margin of 16.77% and a return on equity of 78.74%. Cleveland-Cliffs’s revenue for the quarter was up 47.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, analysts forecast that Cleveland-Cliffs will post 6.03 earnings per share for the current year.

Cleveland-Cliffs Company Profile (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.

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Analyst Recommendations for Cleveland-Cliffs (NYSE:CLF)

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