Cleveland-Cliffs Inc. (NYSE:CLF) Receives Average Rating of “Hold” from Brokerages

Shares of Cleveland-Cliffs Inc. (NYSE:CLF) have received an average rating of “Hold” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $16.68.

Several research analysts have commented on CLF shares. Glj Research upgraded shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a report on Tuesday, January 7th. Morgan Stanley decreased their price objective on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. The Goldman Sachs Group started coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective on the stock. Citigroup reduced their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Finally, StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th.

Institutional Investors Weigh In On Cleveland-Cliffs

A number of hedge funds and other institutional investors have recently made changes to their positions in CLF. Strengthening Families & Communities LLC lifted its stake in shares of Cleveland-Cliffs by 299.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after purchasing an additional 1,490 shares during the last quarter. Pinpoint Asset Management Ltd bought a new position in Cleveland-Cliffs during the fourth quarter valued at about $25,000. Darwin Wealth Management LLC acquired a new stake in shares of Cleveland-Cliffs in the third quarter worth about $34,000. Truvestments Capital LLC bought a new stake in shares of Cleveland-Cliffs during the 3rd quarter worth about $34,000. Finally, Estabrook Capital Management increased its holdings in shares of Cleveland-Cliffs by 207.7% during the 4th quarter. Estabrook Capital Management now owns 4,000 shares of the mining company’s stock valued at $38,000 after acquiring an additional 2,700 shares during the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Cleveland-Cliffs Trading Up 7.9 %

NYSE:CLF opened at $11.40 on Friday. The stock has a fifty day simple moving average of $10.20 and a 200 day simple moving average of $11.85. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of -11.75 and a beta of 1.96. Cleveland-Cliffs has a 1-year low of $8.99 and a 1-year high of $22.97. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

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.