Cleveland-Cliffs (NYSE:CLF) Price Target Lowered to $12.90 at Glj Research

Cleveland-Cliffs (NYSE:CLF) had its price objective decreased by Glj Research from $14.54 to $12.90 in a research report released on Thursday,Benzinga reports. Glj Research currently has a buy rating on the mining company’s stock.

A number of other brokerages have also weighed in on CLF. Morgan Stanley decreased their target price on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Citigroup decreased their price objective on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. B. Riley restated a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group assumed coverage on Cleveland-Cliffs in a report on Monday, December 2nd. They set a “buy” rating and a $16.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.54.

Cleveland-Cliffs Trading Up 1.2 %

Shares of NYSE CLF opened at $10.70 on Thursday. Cleveland-Cliffs has a 52-week low of $8.99 and a 52-week high of $22.97. The company has a market cap of $5.28 billion, a PE ratio of -11.03 and a beta of 1.96. The firm’s 50 day moving average price is $10.31 and its 200-day moving average price is $11.66. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Monday, February 24th. The mining company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.03). The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.46 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. On average, equities research analysts expect that Cleveland-Cliffs will post -0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Cleveland-Cliffs

A number of institutional investors have recently bought and sold shares of the stock. Summit Investment Advisors Inc. increased its position in Cleveland-Cliffs by 1.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 96,956 shares of the mining company’s stock worth $911,000 after buying an additional 932 shares in the last quarter. AllSquare Wealth Management LLC grew its stake in shares of Cleveland-Cliffs by 24.4% during the 4th quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company’s stock valued at $48,000 after acquiring an additional 1,000 shares during the period. MRP Capital Investments LLC increased its holdings in Cleveland-Cliffs by 10.0% in the 4th quarter. MRP Capital Investments LLC now owns 11,000 shares of the mining company’s stock worth $103,000 after acquiring an additional 1,000 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Cleveland-Cliffs by 21.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,723 shares of the mining company’s stock worth $63,000 after acquiring an additional 1,182 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Cleveland-Cliffs by 3.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 40,408 shares of the mining company’s stock worth $515,000 after acquiring an additional 1,237 shares during the period. 67.68% of the stock is owned by institutional investors.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.