Several analysts have recently updated their ratings and price targets for Cleveland-Cliffs (NYSE: CLF):

  • 1/9/2018 – Cleveland-Cliffs was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Cleveland-Cliffs remains focused on de-leveraging its balance sheet. It should also gain from major supply deals and an expected rise in steel demand in the United States. The company is also expected to  benefit from its pellet supply contracts with its U.S. iron ore customers which will help it to mitigate the impact of fluctuation in seaborne iron ore pricing. However, Cleveland-Cliffs is faced with a challenging operating environment and pricing headwinds. The company has also cut its profit outlook for 2017 factoring in lower expected iron ore pricing. Demand for iron ore in China also remain soft.”
  • 1/5/2018 – Cleveland-Cliffs had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $11.00 price target on the stock, up previously from $10.00.
  • 1/4/2018 – Cleveland-Cliffs was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $8.75 price target on the stock. According to Zacks, “Cleveland-Cliffs remains focused on de-leveraging its balance sheet. It should also gain from major supply deals and an expected rise in steel demand in the United States. The company is also expected to  benefit from its pellet supply contracts with its U.S. iron ore customers which will help it to mitigate the impact of fluctuation in seaborne iron ore pricing.”
  • 1/2/2018 – Cleveland-Cliffs was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Cleveland-Cliffs remains focused on de-leveraging its balance sheet. It should also gain from major supply deals and an expected rise in steel demand in the United States. The company is also expected to  benefit from its pellet supply contracts with its U.S. iron ore customers which will help it to mitigate the impact of fluctuation in seaborne iron ore pricing. However, the company has underperformed the industry it belongs to over a year. Cleveland-Cliffs is faced with a challenging operating environment and pricing headwinds. The company has also cut its profit outlook for 2017 factoring in lower expected iron ore pricing. Demand for iron ore in China also remain soft.”
  • 12/31/2017 – Cleveland-Cliffs was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 12/26/2017 – Cleveland-Cliffs was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $8.25 price target on the stock. According to Zacks, “Cleveland-Cliffs remains focused on de-leveraging its balance sheet. It should also gain from major supply deals and an expected rise in steel demand in the United States. The company is also expected to  benefit from its pellet supply contracts with its U.S. iron ore customers which will help it to mitigate the impact of fluctuation in seaborne iron ore pricing.”
  • 12/21/2017 – Cleveland-Cliffs had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $10.00 price target on the stock.
  • 11/24/2017 – Cleveland-Cliffs had its “hold” rating reaffirmed by analysts at KeyCorp.
  • 11/17/2017 – Cleveland-Cliffs was given a new $10.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.

Cleveland-Cliffs Inc (NYSE CLF) opened at $8.05 on Thursday. The company has a debt-to-equity ratio of -2.03, a quick ratio of 1.18 and a current ratio of 1.89. Cleveland-Cliffs Inc has a 52 week low of $5.56 and a 52 week high of $12.37. The company has a market capitalization of $2,390.00, a price-to-earnings ratio of 12.58 and a beta of 1.61.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Friday, October 20th. The mining company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. Cleveland-Cliffs had a negative return on equity of 29.06% and a net margin of 5.48%. The company had revenue of $698.00 million for the quarter, compared to analysts’ expectations of $669.25 million. During the same period in the prior year, the firm earned ($0.11) earnings per share. The firm’s revenue was up 26.2% compared to the same quarter last year. sell-side analysts predict that Cleveland-Cliffs Inc will post 0.52 EPS for the current fiscal year.

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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