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

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

Several brokerages have recently issued reports on CLF. The Goldman Sachs Group began coverage on Cleveland-Cliffs in a research note on Monday, December 2nd. They issued a “buy” rating and a $16.00 price objective for the company. StockNews.com cut Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Morgan Stanley reduced their price target on 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. Citigroup reduced their price target 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. Finally, 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 research report on Tuesday, January 7th.

Institutional Trading of Cleveland-Cliffs

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

Cleveland-Cliffs Price Performance

Shares of NYSE CLF opened at $12.03 on Friday. Cleveland-Cliffs has a fifty-two week low of $8.99 and a fifty-two week high of $22.97. The company has a market cap of $5.94 billion, a PE ratio of -12.40 and a beta of 1.96. 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 business has a 50-day simple moving average of $10.17 and a two-hundred day simple moving average of $11.74.

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.