Analysts Set Cleveland-Cliffs Inc. (NYSE:CLF) Target Price at $16.43

Shares of Cleveland-Cliffs Inc. (NYSE:CLF) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $16.43.

Several research analysts have weighed in on the stock. B. Riley reissued a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Citigroup lowered their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Glj Research reduced their price target on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a research note on Thursday, February 27th. Morgan Stanley lowered their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group reduced their target price on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th.

Insider Buying and Selling

In other news, Director Jane M. Cronin acquired 10,000 shares of the stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $10.56 per share, for a total transaction of $105,600.00. Following the completion of the transaction, the director now directly owns 24,522 shares in the company, valued at approximately $258,952.32. This trade represents a 68.86 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John T. Baldwin bought 4,000 shares of Cleveland-Cliffs stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $8.70 per share, for a total transaction of $34,800.00. Following the acquisition, the director now owns 133,227 shares in the company, valued at approximately $1,159,074.90. This represents a 3.10 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 23,500 shares of company stock valued at $243,095 over the last quarter. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Benjamin Edwards Inc. bought a new stake in shares of Cleveland-Cliffs during the 3rd quarter valued at approximately $203,000. HighTower Advisors LLC grew its stake in shares of Cleveland-Cliffs by 46.3% during the third quarter. HighTower Advisors LLC now owns 253,742 shares of the mining company’s stock worth $3,239,000 after buying an additional 80,304 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Cleveland-Cliffs by 987.0% during the third 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 last quarter. Wexford Capital LP acquired a new position in shares of Cleveland-Cliffs during the third quarter worth $992,000. Finally, National Bank of Canada FI lifted its stake in shares of Cleveland-Cliffs by 3,033.4% in the 3rd quarter. National Bank of Canada FI now owns 264,081 shares of the mining company’s stock valued at $3,372,000 after acquiring an additional 255,653 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

CLF opened at $7.32 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -7.54 and a beta of 1.93. Cleveland-Cliffs has a 12-month low of $6.17 and a 12-month high of $22.67. The business has a 50 day moving average of $9.99 and a 200-day moving average of $11.05.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data 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 company had revenue of $4.33 billion for 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 earnings per share for the current year.

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.