Cleveland-Cliffs (NYSE:CLF) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Cleveland-Cliffs (NYSE:CLF – Free Report) from a sell rating to a hold rating in a report published on Saturday.

A number of other analysts also recently weighed in on CLF. Wells Fargo & Company raised shares of Cleveland-Cliffs from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $11.00 to $12.00 in a report on Friday, November 14th. Morgan Stanley upgraded Cleveland-Cliffs from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $12.80 to $17.00 in a research note on Friday, January 9th. Glj Research reduced their price objective on Cleveland-Cliffs from $9.52 to $9.42 and set a “sell” rating for the company in a research report on Tuesday, February 10th. The Goldman Sachs Group restated a “buy” rating and set a $15.00 price objective on shares of Cleveland-Cliffs in a research report on Monday, February 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cleveland-Cliffs in a research note on Tuesday, January 27th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.89.

Check Out Our Latest Stock Analysis on CLF

Cleveland-Cliffs Price Performance

NYSE CLF opened at $10.36 on Friday. The stock has a 50-day simple moving average of $13.33 and a 200 day simple moving average of $12.27. Cleveland-Cliffs has a twelve month low of $5.63 and a twelve month high of $16.70. The stock has a market capitalization of $5.91 billion, a PE ratio of -3.55 and a beta of 1.93. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.50 and a current ratio of 1.95.

Cleveland-Cliffs (NYSE:CLF – Get Free Report) last issued its quarterly earnings results on Monday, February 9th. The mining company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.19. Cleveland-Cliffs had a negative return on equity of 18.94% and a negative net margin of 7.91%.The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the previous year, the business posted ($0.68) EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. Research analysts anticipate that Cleveland-Cliffs will post -0.79 EPS for the current year.

Insider Buying and Selling at Cleveland-Cliffs

In other Cleveland-Cliffs news, CEO Lourenco Goncalves sold 3,000,000 shares of Cleveland-Cliffs stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $12.42, for a total transaction of $37,260,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edilson Camara bought 19,700 shares of the stock in a transaction dated Friday, February 13th. The stock was purchased at an average cost of $10.13 per share, for a total transaction of $199,561.00. Following the acquisition, the director owned 41,983 shares in the company, valued at $425,287.79. The trade was a 88.41% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Cleveland-Cliffs

A number of large investors have recently bought and sold shares of CLF. Focus Partners Wealth bought a new position in Cleveland-Cliffs in the 1st quarter valued at $339,000. Apollon Wealth Management LLC acquired a new position in Cleveland-Cliffs during the 2nd quarter worth about $416,000. Concurrent Investment Advisors LLC acquired a new stake in Cleveland-Cliffs in the 2nd quarter valued at about $222,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of Cleveland-Cliffs by 18.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 62,267 shares of the mining company’s stock worth $473,000 after acquiring an additional 9,719 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of Cleveland-Cliffs by 2.2% during the second quarter. Yousif Capital Management LLC now owns 188,904 shares of the mining company’s stock worth $1,436,000 after purchasing an additional 4,088 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors.

About Cleveland-Cliffs

(Get Free Report)

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.

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