Cleveland-Cliffs’ (CLF) Buy Rating Reiterated at B. Riley
B. Riley restated their buy rating on shares of Cleveland-Cliffs (NYSE:CLF) in a report released on Friday morning, MarketBeat reports. They currently have a $12.00 target price on the mining company’s stock, up from their prior target price of $11.00. B. Riley also issued estimates for Cleveland-Cliffs’ Q2 2018 earnings at $0.63 EPS, Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.59 EPS, Q2 2019 earnings at $0.43 EPS, Q3 2019 earnings at $0.39 EPS and Q4 2019 earnings at $0.41 EPS.
CLF has been the subject of a number of other reports. Credit Suisse Group raised Cleveland-Cliffs from an underperform rating to an outperform rating in a report on Wednesday, February 7th. Vertical Group raised Cleveland-Cliffs from a sell rating to a hold rating in a report on Friday, February 23rd. ValuEngine lowered Cleveland-Cliffs from a buy rating to a hold rating in a report on Sunday, December 31st. Zacks Investment Research lowered Cleveland-Cliffs from a buy rating to a hold rating in a report on Tuesday, January 9th. Finally, Cowen reaffirmed a market perform rating and issued a $9.00 target price (up from $7.00) on shares of Cleveland-Cliffs in a report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $9.79.
Shares of Cleveland-Cliffs (NYSE CLF) opened at $7.95 on Friday. The company has a debt-to-equity ratio of -5.19, a quick ratio of 2.80 and a current ratio of 3.42. The company has a market capitalization of $2,364.34, a P/E ratio of 6.46 and a beta of 1.48. Cleveland-Cliffs has a twelve month low of $5.56 and a twelve month high of $10.23.
Several hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB bought a new position in shares of Cleveland-Cliffs in the fourth quarter valued at approximately $215,000. Griffin Asset Management Inc. bought a new position in shares of Cleveland-Cliffs in the fourth quarter valued at approximately $275,000. Gotham Asset Management LLC bought a new position in shares of Cleveland-Cliffs in the fourth quarter valued at approximately $166,000. BB&T Securities LLC bought a new position in shares of Cleveland-Cliffs in the fourth quarter valued at approximately $205,000. Finally, Element Capital Management LLC bought a new position in shares of Cleveland-Cliffs in the fourth quarter valued at approximately $2,196,000. 57.92% of the stock is owned by institutional investors.
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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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