Cleveland-Cliffs Inc. (NYSE:CLF) Given Consensus Rating of “Hold” by Brokerages

Shares of Cleveland-Cliffs Inc. (NYSE:CLF) have received an average recommendation of “Hold” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $12.7750.

A number of analysts have weighed in on CLF shares. KeyCorp reduced their target price on Cleveland-Cliffs from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Bank of America increased their price objective on Cleveland-Cliffs from $12.50 to $14.50 and gave the company a “neutral” rating in a report on Tuesday, October 21st. UBS Group set a $15.00 price target on shares of Cleveland-Cliffs in a report on Monday, October 27th. Citigroup cut their price target on shares of Cleveland-Cliffs from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Finally, Morgan Stanley lifted their price target on Cleveland-Cliffs from $8.00 to $10.50 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd.

Cleveland-Cliffs Stock Up 1.9%

NYSE:CLF opened at $10.71 on Friday. Cleveland-Cliffs has a 1-year low of $5.63 and a 1-year high of $16.70. The company has a market capitalization of $5.30 billion, a PE ratio of -3.15 and a beta of 2.07. The firm’s 50-day moving average price is $12.28 and its 200-day moving average price is $10.01. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.04 and a quick ratio of 0.61.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Monday, October 20th. The mining company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.03. Cleveland-Cliffs had a negative return on equity of 20.02% and a negative net margin of 9.00%.The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the business earned ($0.33) earnings per share. Cleveland-Cliffs’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities analysts predict that Cleveland-Cliffs will post -0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC boosted its holdings in Cleveland-Cliffs by 555.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 670,511 shares of the mining company’s stock valued at $8,180,000 after purchasing an additional 568,219 shares in the last quarter. Creative Planning boosted its holdings in shares of Cleveland-Cliffs by 23.1% in the 3rd quarter. Creative Planning now owns 154,661 shares of the mining company’s stock valued at $1,887,000 after buying an additional 29,000 shares in the last quarter. Ancora Advisors LLC grew its position in shares of Cleveland-Cliffs by 13.7% in the 3rd quarter. Ancora Advisors LLC now owns 149,309 shares of the mining company’s stock valued at $1,822,000 after buying an additional 18,000 shares during the last quarter. Amundi acquired a new stake in shares of Cleveland-Cliffs in the 3rd quarter valued at about $14,018,000. Finally, Man Group plc grew its stake in Cleveland-Cliffs by 296.8% during the 3rd quarter. Man Group plc now owns 969,391 shares of the mining company’s stock worth $11,827,000 after buying an additional 725,113 shares during the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

About Cleveland-Cliffs

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.