Cleveland-Cliffs (NYSE:CLF) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Cleveland-Cliffs (NYSE:CLF – Get Rating) from a sell rating to a hold rating in a research note published on Tuesday morning.

Other equities research analysts have also issued reports about the stock. Citigroup boosted their target price on shares of Cleveland-Cliffs from $16.00 to $22.00 and gave the stock a neutral rating in a report on Monday, February 13th. BNP Paribas upgraded shares of Cleveland-Cliffs from an underperform rating to a neutral rating and set a $21.00 target price on the stock in a research report on Wednesday, January 25th. Wolfe Research upgraded shares of Cleveland-Cliffs from an underperform rating to a peer perform rating in a report on Monday, March 20th. Finally, B. Riley dropped their price objective on shares of Cleveland-Cliffs from $27.00 to $26.00 and set a buy rating on the stock in a research note on Wednesday, February 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $20.53.

Cleveland-Cliffs Trading Up 0.7 %

NYSE CLF opened at $14.29 on Tuesday. Cleveland-Cliffs has a twelve month low of $11.82 and a twelve month high of $24.66. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.73 and a current ratio of 2.15. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 15.88 and a beta of 2.22. The firm’s 50 day moving average price is $16.32 and its two-hundred day moving average price is $17.52.

Cleveland-Cliffs (NYSE:CLF – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The mining company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.09. The business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.21 billion. Cleveland-Cliffs had a net margin of 2.14% and a return on equity of 8.32%. The business’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.71 EPS. Equities analysts anticipate that Cleveland-Cliffs will post 2.13 EPS for the current year.

Insider Buying and Selling at Cleveland-Cliffs

In other news, Director Susan Miranda Green sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $22.66, for a total value of $197,142.00. Following the completion of the sale, the director now directly owns 87,353 shares in the company, valued at approximately $1,979,418.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Susan Miranda Green sold 8,700 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $22.66, for a total transaction of $197,142.00. Following the completion of the sale, the director now directly owns 87,353 shares in the company, valued at approximately $1,979,418.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas C. Taylor sold 42,000 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $21.25, for a total transaction of $892,500.00. Following the transaction, the director now directly owns 118,469 shares in the company, valued at $2,517,466.25. The disclosure for this sale can be found here. Insiders purchased a total of 125,300 shares of company stock worth $1,875,531 over the last three months. 1.57% of the stock is owned by insiders.

Hedge Funds Weigh In On Cleveland-Cliffs

A number of hedge funds have recently bought and sold shares of the company. Zullo Investment Group Inc. lifted its stake in shares of Cleveland-Cliffs by 11.1% in the 4th quarter. Zullo Investment Group Inc. now owns 5,000 shares of the mining company’s stock worth $81,000 after purchasing an additional 500 shares during the period. Cedar Brook Financial Partners LLC lifted its position in Cleveland-Cliffs by 4.4% in the fourth quarter. Cedar Brook Financial Partners LLC now owns 12,314 shares of the mining company’s stock worth $198,000 after buying an additional 514 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Cleveland-Cliffs by 27.7% in the fourth quarter. First Eagle Investment Management LLC now owns 2,444 shares of the mining company’s stock worth $39,000 after buying an additional 530 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Cleveland-Cliffs by 17.5% in the fourth quarter. Quadrant Capital Group LLC now owns 3,612 shares of the mining company’s stock worth $58,000 after buying an additional 537 shares during the last quarter. Finally, JB Capital LLC lifted its position in shares of Cleveland-Cliffs by 1.8% during the fourth quarter. JB Capital LLC now owns 30,175 shares of the mining company’s stock worth $486,000 after purchasing an additional 544 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Cleveland-Cliffs Company Profile

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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.