ValuEngine Lowers Cleveland-Cliffs (CLF) to Hold

ValuEngine cut shares of Cleveland-Cliffs (NYSE:CLF) from a buy rating to a hold rating in a report issued on Sunday.

Several other equities research analysts also recently commented on CLF. FBR & Co reiterated a buy rating and set a $10.00 target price on shares of Cleveland-Cliffs in a research report on Wednesday, September 6th. Jefferies Group reiterated a buy rating on shares of Cleveland-Cliffs in a research report on Monday, September 18th. KeyCorp reiterated a hold rating on shares of Cleveland-Cliffs in a research report on Tuesday, September 19th. Zacks Investment Research downgraded shares of Cleveland-Cliffs from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Finally, Cowen set a $7.00 target price on shares of Cleveland-Cliffs and gave the stock a hold rating in a research report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Cleveland-Cliffs presently has an average rating of Hold and an average price target of $8.88.

Cleveland-Cliffs (NYSE:CLF) traded up $0.69 on Friday, hitting $7.90. 17,206,200 shares of the stock were exchanged, compared to its average volume of 11,668,851. Cleveland-Cliffs has a one year low of $5.56 and a one year high of $12.37. The company has a current ratio of 1.89, a quick ratio of 1.18 and a debt-to-equity ratio of -2.03. The firm has a market cap of $2,340.00, a P/E ratio of 12.34 and a beta of 1.61.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Friday, October 20th. The mining company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. Cleveland-Cliffs had a net margin of 5.48% and a negative return on equity of 29.06%. The company had revenue of $698.00 million for the quarter, compared to the consensus estimate of $669.25 million. During the same period last year, the company posted ($0.11) EPS. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. equities analysts predict that Cleveland-Cliffs will post 0.52 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Cleveland-Cliffs by 24.7% during the 2nd quarter. Vanguard Group Inc. now owns 31,963,836 shares of the mining company’s stock worth $221,190,000 after purchasing an additional 6,321,205 shares during the last quarter. BlackRock Inc. increased its stake in shares of Cleveland-Cliffs by 1.6% in the 2nd quarter. BlackRock Inc. now owns 18,860,269 shares of the mining company’s stock valued at $130,512,000 after acquiring an additional 306,081 shares in the last quarter. State Street Corp increased its stake in shares of Cleveland-Cliffs by 6.5% in the 2nd quarter. State Street Corp now owns 10,720,937 shares of the mining company’s stock valued at $74,189,000 after acquiring an additional 653,261 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cleveland-Cliffs by 20.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,297,769 shares of the mining company’s stock valued at $43,581,000 after acquiring an additional 1,056,056 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Cleveland-Cliffs by 16.8% in the 2nd quarter. Northern Trust Corp now owns 4,977,719 shares of the mining company’s stock valued at $34,446,000 after acquiring an additional 717,021 shares in the last quarter. Hedge funds and other institutional investors own 56.74% of the company’s stock.

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Cleveland-Cliffs Company Profile

Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.

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Analyst Recommendations for Cleveland-Cliffs (NYSE:CLF)

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