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

Shares of Cleveland-Cliffs Inc. (NYSE:CLF) have received an average recommendation of “Hold” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $13.8020.

CLF has been the topic of a number of research analyst reports. Glj Research boosted their price target on shares of Cleveland-Cliffs from $5.75 to $9.52 and gave the company a “sell” rating in a research note on Tuesday, January 13th. Bank of America boosted their target price on Cleveland-Cliffs from $12.50 to $14.50 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. JPMorgan Chase & Co. raised their price target on Cleveland-Cliffs from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. UBS Group set a $15.00 price objective on Cleveland-Cliffs in a research note on Monday, October 27th. Finally, KeyCorp lowered Cleveland-Cliffs from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 7th.

Cleveland-Cliffs Stock Up 0.9%

Shares of CLF opened at $14.18 on Friday. The company’s 50-day moving average price is $13.26 and its 200 day moving average price is $12.04. Cleveland-Cliffs has a 12-month low of $5.63 and a 12-month high of $16.70. The company has a current ratio of 2.04, a quick ratio of 0.61 and a debt-to-equity ratio of 1.41. The firm has a market cap of $7.01 billion, a P/E ratio of -4.17 and a beta of 1.91.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Focus Partners Wealth purchased a new stake in shares of Cleveland-Cliffs during the first quarter worth approximately $339,000. Public Employees Retirement System of Ohio grew its holdings in Cleveland-Cliffs by 1.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 151,066 shares of the mining company’s stock worth $1,148,000 after acquiring an additional 2,701 shares in the last quarter. PFG Investments LLC grew its holdings in Cleveland-Cliffs by 16.7% during the 2nd quarter. PFG Investments LLC now owns 21,855 shares of the mining company’s stock worth $166,000 after acquiring an additional 3,120 shares in the last quarter. Clear Creek Financial Management LLC increased its position in shares of Cleveland-Cliffs by 5.1% in the 2nd quarter. Clear Creek Financial Management LLC now owns 26,480 shares of the mining company’s stock valued at $201,000 after purchasing an additional 1,280 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in shares of Cleveland-Cliffs by 2.5% in the 2nd quarter. Vontobel Holding Ltd. now owns 91,158 shares of the mining company’s stock valued at $693,000 after purchasing an additional 2,216 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.