Cleveland-Cliffs Inc. (NYSE:CLF) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Cleveland-Cliffs Inc. (NYSE:CLFGet Rating) have earned a consensus rating of “Hold” from the ten research firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $26.14.

CLF has been the topic of several analyst reports. Credit Suisse Group dropped their target price on Cleveland-Cliffs from $37.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, July 21st. JPMorgan Chase & Co. dropped their target price on Cleveland-Cliffs from $43.00 to $37.00 in a report on Tuesday, June 14th. B. Riley dropped their target price on Cleveland-Cliffs from $39.00 to $37.00 and set a “maintains” rating on the stock in a report on Tuesday, July 26th. Clarkson Capital reiterated a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, June 14th. Finally, Morgan Stanley dropped their target price on Cleveland-Cliffs from $16.00 to $14.50 and set an “equal weight” rating on the stock in a report on Monday, July 25th.

Insider Buying and Selling at Cleveland-Cliffs

In other Cleveland-Cliffs news, EVP Keith Koci acquired 4,600 shares of the stock in a transaction on Wednesday, May 11th. The stock was purchased at an average price of $22.38 per share, for a total transaction of $102,948.00. Following the purchase, the executive vice president now directly owns 294,735 shares in the company, valued at $6,596,169.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Keith Koci purchased 4,600 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were acquired at an average price of $22.38 per share, with a total value of $102,948.00. Following the acquisition, the executive vice president now owns 294,735 shares in the company, valued at approximately $6,596,169.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Douglas C. Taylor sold 28,150 shares of Cleveland-Cliffs stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $23.12, for a total value of $650,828.00. Following the sale, the director now directly owns 156,974 shares in the company, valued at approximately $3,629,238.88. The disclosure for this sale can be found here. 1.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Cleveland-Cliffs

Hedge funds have recently modified their holdings of the stock. S.A. Mason LLC acquired a new position in shares of Cleveland-Cliffs in the 2nd quarter worth $25,000. Rational Advisors LLC acquired a new position in shares of Cleveland-Cliffs in the 4th quarter worth $26,000. UMB Bank N A MO purchased a new position in shares of Cleveland-Cliffs during the fourth quarter valued at $26,000. Tyler Stone Wealth Management purchased a new position in shares of Cleveland-Cliffs during the fourth quarter valued at $26,000. Finally, Joseph P. Lucia & Associates LLC purchased a new position in shares of Cleveland-Cliffs during the first quarter valued at $26,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Stock Performance

Cleveland-Cliffs stock opened at $17.12 on Thursday. The stock’s 50-day moving average is $17.89 and its 200-day moving average is $22.19. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 2.57 and a beta of 2.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.20 and a quick ratio of 0.75. Cleveland-Cliffs has a 12 month low of $14.31 and a 12 month high of $34.04.

Cleveland-Cliffs (NYSE:CLFGet Rating) last released its quarterly earnings data on Friday, July 22nd. The mining company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.27). The firm had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $6.13 billion. Cleveland-Cliffs had a return on equity of 64.45% and a net margin of 15.07%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. Equities analysts anticipate that Cleveland-Cliffs will post 5.07 earnings per share for the current year.

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.

Further Reading

Analyst Recommendations for Cleveland-Cliffs (NYSE:CLF)

Receive News & Ratings for Cleveland-Cliffs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cleveland-Cliffs and related companies with MarketBeat.com's FREE daily email newsletter.