Cleveland-Cliffs Inc. (NYSE:CLF) Given Consensus Rating of “Reduce” by Analysts

Cleveland-Cliffs Inc. (NYSE:CLF) has been given an average rating of “Reduce” by the seven research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $19.92.

A number of equities research analysts recently weighed in on the stock. TheStreet downgraded shares of Cleveland-Cliffs from a “b-” rating to a “c” rating in a research note on Tuesday, January 30th. Citigroup downgraded shares of Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 price target for the company. in a research note on Wednesday, March 13th. BNP Paribas downgraded shares of Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 price target for the company. in a research note on Wednesday, February 28th. Argus downgraded shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Finally, StockNews.com raised shares of Cleveland-Cliffs from a “hold” rating to a “buy” rating in a research note on Thursday.

Insider Buying and Selling at Cleveland-Cliffs

In other news, Director Arlene M. Yocum purchased 2,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $20.02 per share, for a total transaction of $40,040.00. Following the completion of the purchase, the director now directly owns 94,887 shares in the company, valued at approximately $1,899,637.74. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Arlene M. Yocum purchased 2,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $20.02 per share, for a total transaction of $40,040.00. Following the completion of the purchase, the director now directly owns 94,887 shares in the company, valued at approximately $1,899,637.74. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan Miranda Green sold 6,500 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $20.40, for a total transaction of $132,600.00. Following the completion of the sale, the director now owns 90,286 shares of the company’s stock, valued at approximately $1,841,834.40. The disclosure for this sale can be found here. Insiders sold a total of 221,066 shares of company stock worth $4,464,688 over the last quarter. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cleveland-Cliffs

Several large investors have recently modified their holdings of CLF. Exchange Traded Concepts LLC bought a new position in shares of Cleveland-Cliffs in the third quarter valued at about $29,000. Anchor Investment Management LLC bought a new position in shares of Cleveland-Cliffs in the fourth quarter valued at about $31,000. Lindbrook Capital LLC raised its position in shares of Cleveland-Cliffs by 83.7% in the fourth quarter. Lindbrook Capital LLC now owns 1,571 shares of the mining company’s stock valued at $32,000 after purchasing an additional 716 shares during the period. Rise Advisors LLC increased its position in Cleveland-Cliffs by 2,858.0% during the first quarter. Rise Advisors LLC now owns 1,479 shares of the mining company’s stock worth $34,000 after acquiring an additional 1,429 shares during the period. Finally, HighMark Wealth Management LLC bought a new position in Cleveland-Cliffs during the fourth quarter worth about $35,000. 67.68% of the stock is owned by institutional investors.

Cleveland-Cliffs Price Performance

Shares of Cleveland-Cliffs stock opened at $20.79 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 1.89. The firm’s 50-day simple moving average is $20.95 and its 200-day simple moving average is $18.88. Cleveland-Cliffs has a twelve month low of $13.61 and a twelve month high of $22.97. The firm has a market cap of $9.88 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 0.75 and a beta of 2.03.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Tuesday, January 30th. The mining company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). Cleveland-Cliffs had a net margin of 1.81% and a return on equity of 6.79%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same period in the previous year, the business earned ($0.30) earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts expect that Cleveland-Cliffs will post 1.62 EPS 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.