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.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Friday, July 20th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.20. The business had revenue of $714.00 million during the quarter, compared to analysts’ expectations of $653.75 million. Cleveland-Cliffs had a negative return on equity of 76.39% and a net margin of 20.07%. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 EPS. research analysts forecast that Cleveland-Cliffs will post 2.06 earnings per share for the current year.

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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Analyst Recommendations for Cleveland-Cliffs (NYSE:CLF)

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