Cleveland-Cliffs Inc. (NYSE:CLF) Given Average Rating of “Hold” by Brokerages

Cleveland-Cliffs Inc. (NYSE:CLF) has earned an average recommendation of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $16.68.

A number of equities research analysts recently commented on the company. Glj Research raised Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective for the company in a research note on Tuesday, January 7th. Citigroup decreased their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. StockNews.com cut Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. The Goldman Sachs Group assumed coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Morgan Stanley lowered their target price on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Cleveland-Cliffs by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company’s stock valued at $458,267,000 after purchasing an additional 2,556,332 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Cleveland-Cliffs by 13.7% in the 3rd quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock valued at $330,665,000 after buying an additional 3,110,651 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cleveland-Cliffs by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,247,426 shares of the mining company’s stock valued at $199,724,000 after buying an additional 647,282 shares in the last quarter. Slate Path Capital LP grew its holdings in Cleveland-Cliffs by 35.4% in the 4th quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company’s stock valued at $152,355,000 after buying an additional 4,239,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Cleveland-Cliffs by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 8,466,747 shares of the mining company’s stock valued at $79,611,000 after acquiring an additional 264,078 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Price Performance

Shares of CLF stock opened at $11.98 on Friday. The firm’s 50 day moving average price is $10.19 and its two-hundred day moving average price is $11.74. The stock has a market cap of $5.91 billion, a PE ratio of -12.35 and a beta of 1.96. Cleveland-Cliffs has a 52-week low of $8.99 and a 52-week high of $22.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85.

About Cleveland-Cliffs

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.