Cleveland-Cliffs Inc. (NYSE:CLF) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $16.43.

Several brokerages have issued reports on CLF. Morgan Stanley dropped their price target on Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Citigroup cut their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. B. Riley restated a "buy" rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Glj Research dropped their price objective on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, The Goldman Sachs Group reduced their target price on Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th.

Cleveland-Cliffs Trading Down 7.2 %

NYSE CLF traded down $0.53 during mid-day trading on Friday, reaching $6.82. 30,573,387 shares of the stock were exchanged, compared to its average volume of 13,888,178. The stock has a market cap of $3.37 billion, a P/E ratio of -7.03 and a beta of 1.93. 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 one year low of $6.17 and a one year high of $22.39. The stock has a 50 day simple moving average of $9.86 and a 200-day simple moving average of $10.98.

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Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The mining company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.03). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.46 billion. On average, analysts anticipate that Cleveland-Cliffs will post -0.79 EPS for the current year.

Insider Transactions at Cleveland-Cliffs

In other news, EVP Keith Koci acquired 9,500 shares of the firm's stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $10.81 per share, for a total transaction of $102,695.00. Following the purchase, the executive vice president now owns 543,475 shares in the company, valued at approximately $5,874,964.75. This represents a 1.78 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John T. Baldwin bought 4,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $8.70 per share, for a total transaction of $34,800.00. Following the purchase, the director now directly owns 133,227 shares in the company, valued at approximately $1,159,074.90. The trade was a 3.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 23,500 shares of company stock valued at $243,095 over the last ninety days. 1.76% of the stock is currently owned by insiders.

Institutional Trading of Cleveland-Cliffs

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pinpoint Asset Management Ltd bought a new position in Cleveland-Cliffs in the 4th quarter valued at $25,000. Estabrook Capital Management grew its position in Cleveland-Cliffs by 207.7% during the fourth quarter. Estabrook Capital Management now owns 4,000 shares of the mining company's stock valued at $38,000 after buying an additional 2,700 shares during the period. Byrne Asset Management LLC increased its holdings in Cleveland-Cliffs by 130.0% during the fourth quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company's stock worth $43,000 after buying an additional 2,600 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in Cleveland-Cliffs in the fourth quarter worth about $44,000. Finally, AllSquare Wealth Management LLC raised its position in Cleveland-Cliffs by 24.4% in the fourth 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 during the period. 67.68% of the stock is owned by hedge funds and other institutional investors.

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.