Cleveland-Cliffs Inc. (NYSE:CLF) Receives $13.80 Average PT from Analysts

Cleveland-Cliffs Inc. (NYSE:CLF) has been assigned an average rating of “Hold” from the ten analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $13.8020.

Several brokerages recently issued reports on CLF. The Goldman Sachs Group raised their target price on shares of Cleveland-Cliffs from $14.50 to $16.00 and gave the stock a “buy” rating in a report on Friday, October 31st. KeyCorp downgraded Cleveland-Cliffs from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 7th. Glj Research boosted their price objective on Cleveland-Cliffs from $5.75 to $9.52 and gave the company a “sell” rating in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Tuesday, January 27th. Finally, Morgan Stanley upgraded Cleveland-Cliffs from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $12.80 to $17.00 in a research report on Friday, January 9th.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $14.27 on Friday. Cleveland-Cliffs has a twelve month low of $5.63 and a twelve month high of $16.70. The company’s 50 day moving average is $13.38 and its 200 day moving average is $12.18. The company has a current ratio of 2.04, a quick ratio of 0.61 and a debt-to-equity ratio of 1.41. The company has a market cap of $7.06 billion, a PE ratio of -4.20 and a beta of 1.93.

Hedge Funds Weigh In On Cleveland-Cliffs

Large investors have recently made changes to their positions in the company. Strengthening Families & Communities LLC grew its position in Cleveland-Cliffs by 4,315.6% during the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after buying an additional 1,942 shares during the period. Larson Financial Group LLC boosted its stake in shares of Cleveland-Cliffs by 819.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,684 shares of the mining company’s stock worth $33,000 after acquiring an additional 2,392 shares in the last quarter. Deseret Mutual Benefit Administrators grew its position in shares of Cleveland-Cliffs by 72.6% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 2,768 shares of the mining company’s stock valued at $34,000 after acquiring an additional 1,164 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in shares of Cleveland-Cliffs during the 2nd quarter valued at about $27,000. Finally, Winch Advisory Services LLC increased its stake in shares of Cleveland-Cliffs by 131.3% in the 2nd quarter. Winch Advisory Services LLC now owns 4,070 shares of the mining company’s stock valued at $31,000 after purchasing an additional 2,310 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.