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

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

CLF has been the subject of several research analyst reports. Citigroup dropped their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, December 19th. Morgan Stanley cut their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. The Goldman Sachs Group assumed 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. Glj Research upgraded Cleveland-Cliffs from a "sell" rating to a "buy" rating and set a $14.27 price target for the company in a report on Tuesday, January 7th. Finally, StockNews.com lowered shares of Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th.

Cleveland-Cliffs Trading Up 1.1 %

CLF stock traded up $0.13 on Friday, hitting $11.98. 10,497,096 shares of the company were exchanged, compared to its average volume of 16,141,614. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of -12.35 and a beta of 1.96. Cleveland-Cliffs has a twelve month low of $8.99 and a twelve month high of $22.97. The business's fifty day moving average is $10.17 and its two-hundred day moving average is $11.74.

Institutional Inflows and Outflows

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

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.