Cleveland-Cliffs Inc. (NYSE:CLF) Receives $16.43 Average PT from Analysts

Shares of Cleveland-Cliffs Inc. (NYSE:CLF) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $16.24.

A number of equities research analysts have recently commented on the stock. B. Riley reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Citigroup dropped their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Glj Research decreased their price target on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group cut their price objective on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Finally, Morgan Stanley lowered their target price on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd.

Insider Activity at Cleveland-Cliffs

In other news, Director John T. Baldwin bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $8.70 per share, for a total transaction of $34,800.00. Following the completion of the transaction, the director now owns 133,227 shares in the company, valued at $1,159,074.90. The trade was a 3.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jane M. Cronin purchased 10,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $10.56 per share, with a total value of $105,600.00. Following the completion of the acquisition, the director now directly owns 24,522 shares in the company, valued at $258,952.32. The trade was a 68.86 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 23,500 shares of company stock valued at $243,095. 1.76% of the stock is owned by insiders.

Institutional Trading of Cleveland-Cliffs

Several large investors have recently bought and sold shares of CLF. RFG Advisory LLC acquired a new position in Cleveland-Cliffs during the 1st quarter worth $110,000. Merit Financial Group LLC bought a new position in Cleveland-Cliffs during the 1st quarter worth approximately $144,000. NBC Securities Inc. increased its holdings in shares of Cleveland-Cliffs by 148,988.7% in the 1st quarter. NBC Securities Inc. now owns 92,435 shares of the mining company’s stock valued at $759,000 after acquiring an additional 92,373 shares during the last quarter. Douglas Lane & Associates LLC increased its holdings in shares of Cleveland-Cliffs by 11.9% in the 1st quarter. Douglas Lane & Associates LLC now owns 2,546,195 shares of the mining company’s stock valued at $20,930,000 after acquiring an additional 271,421 shares during the last quarter. Finally, Sterneck Capital Management LLC raised its position in shares of Cleveland-Cliffs by 93.0% during the 1st quarter. Sterneck Capital Management LLC now owns 36,508 shares of the mining company’s stock valued at $300,000 after acquiring an additional 17,596 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $7.94 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. Cleveland-Cliffs has a 12 month low of $6.17 and a 12 month high of $22.39. The firm has a market capitalization of $3.92 billion, a P/E ratio of -8.18 and a beta of 1.93. The company’s fifty day moving average price is $9.76 and its 200 day moving average price is $10.93.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Monday, February 24th. The mining company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.03). The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. As a group, sell-side analysts predict that Cleveland-Cliffs will post -0.79 earnings per share for the current fiscal year.

Cleveland-Cliffs Company Profile

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.