Cleveland-Cliffs (CLF) Stock Rating Lowered by ValuEngine
ValuEngine lowered shares of Cleveland-Cliffs (NYSE:CLF) from a hold rating to a sell rating in a research report sent to investors on Thursday, August 23rd.
A number of other equities analysts have also recently commented on CLF. Seaport Global Securities set a $13.00 target price on Cleveland-Cliffs and gave the company a buy rating in a report on Monday, July 23rd. Morgan Stanley upped their price target on Cleveland-Cliffs from $8.00 to $10.00 and gave the company an equal weight rating in a research report on Friday, July 27th. Citigroup upped their price target on Cleveland-Cliffs from $11.00 to $12.00 and gave the company a $10.88 rating in a research report on Monday, July 23rd. B. Riley increased their price objective on Cleveland-Cliffs from $12.00 to $13.00 and gave the stock a $10.88 rating in a research report on Monday, July 23rd. Finally, JPMorgan Chase & Co. upgraded Cleveland-Cliffs from a neutral rating to an overweight rating in a research report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Cleveland-Cliffs currently has an average rating of Hold and a consensus price target of $10.80.
Cleveland-Cliffs stock opened at $10.70 on Thursday. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 21.40 and a beta of 1.71. The company has a current ratio of 3.26, a quick ratio of 2.72 and a debt-to-equity ratio of -7.50. Cleveland-Cliffs has a fifty-two week low of $5.60 and a fifty-two week high of $11.44.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in shares of Cleveland-Cliffs by 1,248.2% in the second quarter. Tower Research Capital LLC TRC now owns 11,999 shares of the mining company’s stock valued at $101,000 after acquiring an additional 11,109 shares in the last quarter. Trexquant Investment LP acquired a new stake in Cleveland-Cliffs in the second quarter valued at $131,000. Baird Financial Group Inc. raised its stake in Cleveland-Cliffs by 67.3% in the second quarter. Baird Financial Group Inc. now owns 18,643 shares of the mining company’s stock valued at $157,000 after buying an additional 7,500 shares in the last quarter. Moors & Cabot Inc. raised its stake in Cleveland-Cliffs by 74.9% in the first quarter. Moors & Cabot Inc. now owns 18,795 shares of the mining company’s stock valued at $131,000 after buying an additional 8,050 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new stake in Cleveland-Cliffs in the second quarter valued at $165,000. Institutional investors and hedge funds own 67.51% of the company’s stock.
Cleveland-Cliffs Company Profile
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; and Koolyanobbing iron ore mining complex located in Western Australia. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific.
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