Cleveland-Cliffs (CLF) Downgraded to “Sell” at ValuEngine

Cleveland-Cliffs (NYSE:CLF) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Other equities analysts have also issued reports about the stock. B. Riley set a $15.00 price objective on shares of Cleveland-Cliffs and gave the company a “buy” rating in a research report on Wednesday, September 26th. Seaport Global Securities set a $13.00 price objective on shares of Cleveland-Cliffs and gave the company a “buy” rating in a research report on Monday, July 23rd. Zacks Investment Research lowered shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of Cleveland-Cliffs in a research report on Monday, October 15th. Finally, Vertical Group set a $5.00 price objective on shares of Cleveland-Cliffs and gave the company a “sell” rating in a research report on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. Cleveland-Cliffs currently has a consensus rating of “Hold” and a consensus price target of $11.55.

Shares of Cleveland-Cliffs stock opened at $10.73 on Thursday. The company has a market capitalization of $3.21 billion, a P/E ratio of 21.46 and a beta of 1.63. Cleveland-Cliffs has a 52 week low of $5.60 and a 52 week high of $13.10.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Friday, October 19th. The mining company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). The company had revenue of $742.00 million during the quarter, compared to analysts’ expectations of $736.06 million. Cleveland-Cliffs had a net margin of 36.43% and a negative return on equity of 146.72%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. As a group, research analysts anticipate that Cleveland-Cliffs will post 2.03 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its holdings in Cleveland-Cliffs by 1,248.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,999 shares of the mining company’s stock worth $101,000 after buying an additional 11,109 shares during the period. NEXT Financial Group Inc acquired a new position in Cleveland-Cliffs in the 3rd quarter worth approximately $122,000. Edge Wealth Management LLC acquired a new position in Cleveland-Cliffs in the 3rd quarter worth approximately $127,000. Trexquant Investment LP acquired a new position in Cleveland-Cliffs in the 2nd quarter worth approximately $131,000. Finally, Summit X LLC acquired a new position in Cleveland-Cliffs in the 3rd quarter worth approximately $152,000. Institutional investors own 68.62% 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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