Analysts Set Cleveland-Cliffs Inc. (NYSE:CLF) PT at $13.89

Cleveland-Cliffs Inc. (NYSE:CLF) has been given an average rating of “Hold” by the ten ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $13.8920.

A number of research firms have issued reports on CLF. Wall Street Zen upgraded shares of Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Glj Research reduced their price objective on Cleveland-Cliffs from $9.52 to $9.42 and set a “sell” rating for the company in a research report on Tuesday, February 10th. The Goldman Sachs Group restated a “buy” rating and issued a $15.00 target price on shares of Cleveland-Cliffs in a research note on Monday, February 9th. Wells Fargo & Company raised Cleveland-Cliffs from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $11.00 to $12.00 in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Tuesday, January 27th.

Insiders Place Their Bets

In other Cleveland-Cliffs news, COO Clifford T. Smith sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $10.46, for a total transaction of $2,092,000.00. Following the transaction, the chief operating officer directly owned 560,529 shares in the company, valued at $5,863,133.34. This trade represents a 26.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edilson Camara purchased 19,700 shares of Cleveland-Cliffs stock in a transaction on Friday, February 13th. The stock was bought at an average cost of $10.13 per share, with a total value of $199,561.00. Following the transaction, the director directly owned 41,983 shares of the company’s stock, valued at approximately $425,287.79. The trade was a 88.41% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.71% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Strengthening Families & Communities LLC boosted 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 worth $25,000 after purchasing an additional 1,942 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Cleveland-Cliffs during the 4th quarter worth $25,000. IFP Advisors Inc grew its stake in Cleveland-Cliffs by 117.5% in the 4th quarter. IFP Advisors Inc now owns 2,221 shares of the mining company’s stock valued at $29,000 after buying an additional 1,200 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Cleveland-Cliffs by 306.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,461 shares of the mining company’s stock worth $33,000 after acquiring an additional 1,855 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in Cleveland-Cliffs by 94.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,505 shares of the mining company’s stock worth $33,000 after acquiring an additional 1,214 shares during the last quarter. 67.68% of the stock is owned by institutional investors.

Cleveland-Cliffs Stock Up 2.3%

Shares of Cleveland-Cliffs stock opened at $11.04 on Tuesday. Cleveland-Cliffs has a 1 year low of $5.63 and a 1 year high of $16.70. The company has a market cap of $6.30 billion, a P/E ratio of -3.78 and a beta of 1.93. The company has a current ratio of 1.95, a quick ratio of 0.50 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average price of $12.97 and a 200 day moving average price of $12.29.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Monday, February 9th. The mining company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.19. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.60 billion. Cleveland-Cliffs had a negative return on equity of 18.94% and a negative net margin of 7.91%.The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.68) EPS. As a group, analysts expect that Cleveland-Cliffs will post -0.79 EPS for the current fiscal year.

Cleveland-Cliffs Company Profile

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.