Shares of Cleveland-Cliffs Inc (NYSE:CLF) have received an average recommendation of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.10.

A number of brokerages recently commented on CLF. ValuEngine raised Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. Zacks Investment Research raised Cleveland-Cliffs from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, October 9th. Credit Suisse Group reissued a “neutral” rating and set a $13.00 price target on shares of Cleveland-Cliffs in a research note on Monday, October 15th. Citigroup increased their price target on Cleveland-Cliffs from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, October 5th. Finally, Seaport Global Securities set a $13.00 price target on Cleveland-Cliffs and gave the company a “buy” rating in a research note on Monday, July 23rd.

Several large investors have recently bought and sold shares of CLF. Tower Research Capital LLC TRC lifted its stake in shares of Cleveland-Cliffs by 1,248.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,999 shares of the mining company’s stock valued at $101,000 after purchasing an additional 11,109 shares during the last quarter. NEXT Financial Group Inc bought a new stake in shares of Cleveland-Cliffs in the 3rd quarter valued at approximately $122,000. Edge Wealth Management LLC bought a new stake in shares of Cleveland-Cliffs in the 3rd quarter valued at approximately $127,000. Moors & Cabot Inc. lifted its stake in shares of Cleveland-Cliffs by 74.9% in the 1st quarter. Moors & Cabot Inc. now owns 18,795 shares of the mining company’s stock valued at $131,000 after purchasing an additional 8,050 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Cleveland-Cliffs in the 2nd quarter valued at approximately $131,000. 68.59% of the stock is owned by institutional investors and hedge funds.

Cleveland-Cliffs stock traded up $0.29 during midday trading on Monday, reaching $11.34. 13,533,291 shares of the stock traded hands, compared to its average volume of 11,739,224. Cleveland-Cliffs has a 12 month low of $5.60 and a 12 month high of $13.10. The firm has a market cap of $3.29 billion, a PE ratio of 22.68 and a beta of 1.70. The company has a current ratio of 4.34, a quick ratio of 3.61 and a debt-to-equity ratio of -26.68.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings results on Friday, October 19th. The mining company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Cleveland-Cliffs had a net margin of 36.43% and a negative return on equity of 146.72%. The firm had revenue of $742.00 million for the quarter, compared to the consensus estimate of $736.06 million. During the same period in the previous year, the company posted $0.36 earnings per share. Cleveland-Cliffs’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Cleveland-Cliffs will post 2.06 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, January 4th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Thursday, January 3rd.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota; and Koolyanobbing iron ore mining complex located in Western Australia. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific.

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Analyst Recommendations for Cleveland-Cliffs (NYSE:CLF)

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