Shares of Cleveland-Cliffs Inc (NYSE:CLF) have earned an average recommendation of “Hold” from the fourteen research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $12.28.

Several analysts recently weighed in on the company. ValuEngine upgraded Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Jefferies Financial Group upped their price objective on Cleveland-Cliffs from $11.50 to $13.75 and gave the stock a “buy” rating in a research report on Friday, February 8th. Zacks Investment Research upgraded Cleveland-Cliffs from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Monday, April 1st. TheStreet upgraded Cleveland-Cliffs from a “c+” rating to a “b” rating in a research report on Wednesday, February 20th. Finally, Citigroup upped their price objective on Cleveland-Cliffs to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 8th.

In other Cleveland-Cliffs news, CFO Keith Koci purchased 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were acquired at an average cost of $11.52 per share, for a total transaction of $103,680.00. Following the completion of the acquisition, the chief financial officer now owns 39,349 shares of the company’s stock, valued at approximately $453,300.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan Miranda Green sold 12,700 shares of Cleveland-Cliffs stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $10.06, for a total value of $127,762.00. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CLF. Traynor Capital Management Inc. purchased a new position in Cleveland-Cliffs during the first quarter valued at approximately $128,000. State of Alaska Department of Revenue acquired a new position in shares of Cleveland-Cliffs in the 1st quarter worth approximately $56,000. Verde Servicos Internacionais S.A. acquired a new position in shares of Cleveland-Cliffs in the 1st quarter worth approximately $566,000. Geode Capital Management LLC lifted its holdings in shares of Cleveland-Cliffs by 9.3% in the 4th quarter. Geode Capital Management LLC now owns 3,148,509 shares of the mining company’s stock worth $24,212,000 after acquiring an additional 267,622 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Cleveland-Cliffs in the 4th quarter worth approximately $21,011,000. Institutional investors own 74.20% of the company’s stock.

Shares of CLF stock traded up $0.13 during trading on Monday, reaching $10.24. 301,700 shares of the company’s stock were exchanged, compared to its average volume of 9,440,669. The company has a current ratio of 3.16, a quick ratio of 2.77 and a debt-to-equity ratio of 4.93. The firm has a market capitalization of $2.91 billion, a PE ratio of 4.80 and a beta of 1.81. Cleveland-Cliffs has a twelve month low of $6.78 and a twelve month high of $13.10.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Friday, February 8th. The mining company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). Cleveland-Cliffs had a negative return on equity of 509.82% and a net margin of 47.17%. The business had revenue of $696.30 million for the quarter, compared to analyst estimates of $721.52 million. During the same period in the previous year, the firm posted $1.07 earnings per share. The firm’s revenue was up 36.0% compared to the same quarter last year. As a group, sell-side analysts predict that Cleveland-Cliffs will post 1.56 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, April 5th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.20 annualized dividend and a yield of 1.95%. Cleveland-Cliffs’s dividend payout ratio is presently 9.39%.

About Cleveland-Cliffs

Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific. 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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Analyst Recommendations for Cleveland-Cliffs (NYSE:CLF)

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