Cleveland-Cliffs Inc (CLF) Receives $10.25 Average PT from Brokerages
Cleveland-Cliffs Inc (NYSE:CLF) has received a consensus rating of “Hold” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $10.25.
Several equities research analysts have recently commented on CLF shares. B. Riley reaffirmed a “buy” rating and set a $11.00 price target on shares of Cleveland-Cliffs in a research report on Friday, January 26th. Credit Suisse Group raised shares of Cleveland-Cliffs from an “underperform” rating to an “outperform” rating in a research report on Wednesday, February 7th. Zacks Investment Research raised shares of Cleveland-Cliffs from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research report on Thursday, January 4th. Vertical Group raised shares of Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, ValuEngine lowered shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st.
In related news, Director Susan Miranda Green sold 11,305 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $7.62, for a total transaction of $86,144.10. Following the completion of the transaction, the director now directly owns 60,367 shares in the company, valued at approximately $459,996.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.
Cleveland-Cliffs (CLF) traded down $0.11 during midday trading on Friday, hitting $7.18. 8,085,536 shares of the stock traded hands, compared to its average volume of 15,301,266. Cleveland-Cliffs has a 12-month low of $5.56 and a 12-month high of $9.92. The stock has a market cap of $2,140.00, a price-to-earnings ratio of -80.22 and a beta of 1.48. The company has a quick ratio of 2.80, a current ratio of 3.42 and a debt-to-equity ratio of -5.19.
Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Thursday, January 25th. The mining company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.11. Cleveland-Cliffs had a net margin of 16.09% and a negative return on equity of 35.81%. The firm had revenue of $600.90 million during the quarter, compared to analyst estimates of $612.50 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. analysts forecast that Cleveland-Cliffs will post 1.15 EPS for the current fiscal year.
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Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.
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