Credit Suisse Group Lowers Cleveland-Cliffs (NYSE:CLF) Price Target to $25.00

Cleveland-Cliffs (NYSE:CLFGet Rating) had its price target dropped by analysts at Credit Suisse Group from $30.00 to $25.00 in a report issued on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the mining company’s stock. Credit Suisse Group’s price target indicates a potential upside of 77.30% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Morgan Stanley dropped their target price on shares of Cleveland-Cliffs from $16.00 to $14.50 and set an “equal weight” rating on the stock in a report on Monday, July 25th. Citigroup lifted their target price on shares of Cleveland-Cliffs to $20.00 in a report on Tuesday, September 13th. B. Riley dropped their price objective on shares of Cleveland-Cliffs from $47.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 6th. JPMorgan Chase & Co. dropped their price objective on shares of Cleveland-Cliffs from $43.00 to $37.00 in a report on Tuesday, June 14th. Finally, Clarkson Capital restated a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, June 14th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.07.

Cleveland-Cliffs Stock Performance

Shares of CLF opened at $14.10 on Wednesday. The company has a market capitalization of $7.29 billion, a PE ratio of 2.12 and a beta of 2.23. Cleveland-Cliffs has a one year low of $13.97 and a one year high of $34.04. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.20 and a quick ratio of 0.75. The company’s fifty day moving average price is $17.26 and its 200 day moving average price is $21.61.

Cleveland-Cliffs (NYSE:CLFGet Rating) last announced its earnings results on Friday, July 22nd. The mining company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.27). The firm had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $6.13 billion. Cleveland-Cliffs had a return on equity of 64.45% and a net margin of 15.07%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 EPS. As a group, analysts expect that Cleveland-Cliffs will post 4.74 earnings per share for the current year.

Insider Activity

In other Cleveland-Cliffs news, CFO Celso L. Goncalves, Jr. bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were acquired at an average cost of $19.36 per share, for a total transaction of $96,800.00. Following the transaction, the chief financial officer now owns 148,285 shares in the company, valued at $2,870,797.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.43% of the stock is owned by company insiders.

Institutional Trading of Cleveland-Cliffs

Several institutional investors have recently made changes to their positions in CLF. S.A. Mason LLC acquired a new stake in shares of Cleveland-Cliffs during the 2nd quarter valued at about $25,000. Tyler Stone Wealth Management acquired a new position in Cleveland-Cliffs in the fourth quarter valued at about $26,000. Joseph P. Lucia & Associates LLC acquired a new position in Cleveland-Cliffs in the first quarter valued at about $26,000. Allworth Financial LP boosted its position in Cleveland-Cliffs by 199.7% in the first quarter. Allworth Financial LP now owns 917 shares of the mining company’s stock valued at $30,000 after buying an additional 611 shares in the last quarter. Finally, First Eagle Investment Management LLC acquired a new position in Cleveland-Cliffs in the first quarter valued at about $30,000. 61.21% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Company Profile

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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.

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