Cleveland-Cliffs Inc. (NYSE:CLF) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) have been given an average rating of "Hold" by the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $16.68.

CLF has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on Cleveland-Cliffs in a research report on Monday, December 2nd. They issued a "buy" rating and a $16.00 target price for the company. Citigroup decreased their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating for the company in a research report on Thursday, December 19th. Morgan Stanley reduced their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. StockNews.com lowered shares of Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Finally, Glj Research raised shares of Cleveland-Cliffs from a "sell" rating to a "buy" rating and set a $14.27 price target for the company in a research report on Tuesday, January 7th.

Institutional Investors Weigh In On Cleveland-Cliffs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Altus Wealth Group LLC increased its holdings in Cleveland-Cliffs by 7.2% in the 3rd quarter. Altus Wealth Group LLC now owns 11,900 shares of the mining company's stock worth $152,000 after acquiring an additional 800 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in Cleveland-Cliffs by 1.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 96,956 shares of the mining company's stock worth $911,000 after acquiring an additional 932 shares in the last quarter. AllSquare Wealth Management LLC increased its holdings in Cleveland-Cliffs by 24.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company's stock worth $48,000 after acquiring an additional 1,000 shares in the last quarter. MRP Capital Investments LLC increased its holdings in Cleveland-Cliffs by 10.0% in the 4th quarter. MRP Capital Investments LLC now owns 11,000 shares of the mining company's stock worth $103,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Cleveland-Cliffs by 21.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,723 shares of the mining company's stock worth $63,000 after purchasing an additional 1,182 shares during the period. 67.68% of the stock is owned by hedge funds and other institutional investors.

Cleveland-Cliffs Stock Performance

NYSE:CLF traded up $0.10 during mid-day trading on Friday, reaching $11.49. The company's stock had a trading volume of 14,740,169 shares, compared to its average volume of 11,458,728. Cleveland-Cliffs has a 12-month low of $8.99 and a 12-month high of $22.97. The firm's fifty day moving average price is $10.18 and its two-hundred day moving average price is $11.75. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The stock has a market cap of $5.67 billion, a P/E ratio of -11.84 and a beta of 1.96.

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.