Cleveland-Cliffs (CLF) Receives Buy Rating from B. Riley
B. Riley reiterated their buy rating on shares of Cleveland-Cliffs (NYSE:CLF) in a research note released on Friday morning. B. Riley currently has a $11.00 target price on the mining company’s stock, up from their prior target price of $10.00. B. Riley also issued estimates for Cleveland-Cliffs’ Q4 2017 earnings at $0.14 EPS, Q1 2018 earnings at $0.13 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.37 EPS, Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $1.33 EPS and FY2019 earnings at $0.99 EPS.
A number of other research analysts also recently weighed in on CLF. Jefferies Group restated a buy rating on shares of Cleveland-Cliffs in a research note on Monday, September 18th. KeyCorp reaffirmed a hold rating on shares of Cleveland-Cliffs in a research report on Tuesday, September 19th. FBR & Co set a $10.00 price objective on Cleveland-Cliffs and gave the company a buy rating in a research report on Monday, October 2nd. Zacks Investment Research cut Cleveland-Cliffs from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Finally, Cowen set a $7.00 price objective on Cleveland-Cliffs and gave the company a hold rating in a research report on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Cleveland-Cliffs presently has an average rating of Hold and an average price target of $9.06.
Cleveland-Cliffs (NYSE:CLF) opened at $8.13 on Friday. The company has a debt-to-equity ratio of -2.03, a current ratio of 1.89 and a quick ratio of 1.18. The firm has a market capitalization of $2,410.00, a P/E ratio of 12.70 and a beta of 1.61. Cleveland-Cliffs has a one year low of $5.56 and a one year high of $12.37.
Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Friday, October 20th. The mining company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.06. The firm had revenue of $698.00 million during the quarter, compared to the consensus estimate of $669.25 million. Cleveland-Cliffs had a negative return on equity of 29.06% and a net margin of 5.48%. The business’s revenue was up 26.2% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share. equities research analysts predict that Cleveland-Cliffs will post 0.52 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its holdings in Cleveland-Cliffs by 49.5% in the 2nd quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock valued at $116,000 after acquiring an additional 5,129 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Cleveland-Cliffs by 486.8% in the 2nd quarter. D.A. Davidson & CO. now owns 18,597 shares of the mining company’s stock valued at $128,000 after acquiring an additional 15,428 shares in the last quarter. Moors & Cabot Inc. acquired a new position in Cleveland-Cliffs in the 2nd quarter valued at $128,000. HighTower Advisors LLC raised its holdings in Cleveland-Cliffs by 19.0% in the 2nd quarter. HighTower Advisors LLC now owns 19,092 shares of the mining company’s stock valued at $133,000 after acquiring an additional 3,046 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Cleveland-Cliffs by 25.0% in the 2nd quarter. Sei Investments Co. now owns 22,277 shares of the mining company’s stock valued at $153,000 after acquiring an additional 4,458 shares in the last quarter. 56.74% of the stock is owned by institutional investors and hedge funds.
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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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