Cleveland-Cliffs Inc. (NYSE:CLF) Given Average Recommendation of "Hold" by Analysts

Shares of Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) have earned a consensus recommendation of "Hold" from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $17.56.

A number of research analysts recently commented on CLF shares. Seaport Res Ptn raised shares of Cleveland-Cliffs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 27th. Citigroup lowered their price objective on Cleveland-Cliffs from $18.00 to $12.50 and set a "neutral" rating for the company in a research note on Tuesday, September 10th. Morgan Stanley cut their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an "equal weight" rating on the stock in a research report on Wednesday, September 18th. Finally, StockNews.com downgraded Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Twelve Points Wealth Management LLC grew its holdings in Cleveland-Cliffs by 58.5% during the 3rd quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company's stock worth $1,708,000 after acquiring an additional 49,359 shares in the last quarter. Commerce Bank boosted its holdings in shares of Cleveland-Cliffs by 342.8% in the 3rd quarter. Commerce Bank now owns 116,870 shares of the mining company's stock valued at $1,492,000 after buying an additional 90,477 shares in the last quarter. Hodges Capital Management Inc. grew its position in shares of Cleveland-Cliffs by 5.0% in the 2nd quarter. Hodges Capital Management Inc. now owns 2,199,634 shares of the mining company's stock worth $33,852,000 after buying an additional 104,197 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Cleveland-Cliffs by 2.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 40,118 shares of the mining company's stock worth $879,000 after acquiring an additional 984 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in Cleveland-Cliffs by 295.9% during the third quarter. GSA Capital Partners LLP now owns 205,461 shares of the mining company's stock valued at $2,624,000 after acquiring an additional 153,560 shares during the last quarter. Institutional investors own 67.68% of the company's stock.

Cleveland-Cliffs Price Performance

NYSE:CLF traded up $0.31 during trading hours on Friday, reaching $12.45. The stock had a trading volume of 6,853,153 shares, compared to its average volume of 15,393,981. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. The stock has a market capitalization of $6.15 billion, a PE ratio of -12.84 and a beta of 1.97. Cleveland-Cliffs has a 52 week low of $10.21 and a 52 week high of $22.97. The company has a 50 day moving average price of $12.69 and a two-hundred day moving average price of $13.90.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.02). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The business had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.72 billion. During the same period in the previous year, the company earned $0.54 EPS. Cleveland-Cliffs's revenue for the quarter was down 18.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cleveland-Cliffs will post -0.45 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.