Shares of Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) have received an average recommendation of "Hold" from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $16.68.
CLF has been the subject of several research reports. Glj Research upgraded shares of Cleveland-Cliffs from a "sell" rating to a "buy" rating and set a $14.27 price target for the company in a report on Tuesday, January 7th. The Goldman Sachs Group started coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They set a "buy" rating and a $16.00 target price for the company. StockNews.com downgraded shares of Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Citigroup cut their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating for the company in a report on Thursday, December 19th. Finally, Morgan Stanley lowered their target price on Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd.
Read Our Latest Report on CLF
Shares of Cleveland-Cliffs stock opened at $11.49 on Friday. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs has a 1 year low of $8.99 and a 1 year high of $22.97. The stock has a 50-day moving average price of $10.19 and a 200 day moving average price of $11.78. The company has a market cap of $5.67 billion, a P/E ratio of -11.84 and a beta of 1.96.
Several large investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in Cleveland-Cliffs by 105.6% in the 3rd quarter. Franklin Resources Inc. now owns 262,771 shares of the mining company's stock worth $3,429,000 after purchasing an additional 134,939 shares during the last quarter. Stonegate Investment Group LLC acquired a new stake in shares of Cleveland-Cliffs in the fourth quarter worth $18,999,000. Twelve Points Wealth Management LLC boosted its holdings in shares of Cleveland-Cliffs by 58.5% during the 3rd quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company's stock worth $1,708,000 after buying an additional 49,359 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Cleveland-Cliffs by 987.0% during the 3rd quarter. Janus Henderson Group PLC now owns 207,000 shares of the mining company's stock worth $2,644,000 after buying an additional 187,957 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new position in Cleveland-Cliffs in the 3rd quarter valued at $22,122,000. Institutional investors own 67.68% of the company's stock.
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.
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