Cleveland-Cliffs (CLF) Given “Buy” Rating at B. Riley
Cleveland-Cliffs (NYSE:CLF)‘s stock had its “buy” rating reissued by analysts at B. Riley in a report released on Friday, MarketBeat reports. They presently have a $12.00 price objective on the mining company’s stock, up from their prior price objective of $11.00. B. Riley’s target price indicates a potential upside of 50.94% from the stock’s previous close. B. Riley also issued estimates for Cleveland-Cliffs’ Q2 2018 earnings at $0.63 EPS, Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.59 EPS, Q2 2019 earnings at $0.43 EPS, Q3 2019 earnings at $0.39 EPS and Q4 2019 earnings at $0.41 EPS.
Other equities analysts have also issued research reports about the company. Cowen reiterated a “market perform” rating and issued a $9.00 price target (up previously from $7.00) on shares of Cleveland-Cliffs in a research report on Friday, January 26th. KeyCorp reiterated a “hold” rating on shares of Cleveland-Cliffs in a research report on Friday, November 24th. Zacks Investment Research lowered Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. ValuEngine lowered Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Vertical Group upgraded Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $9.79.
Cleveland-Cliffs (NYSE CLF) opened at $7.95 on Friday. The company has a debt-to-equity ratio of -5.19, a current ratio of 3.42 and a quick ratio of 2.80. Cleveland-Cliffs has a 1 year low of $5.56 and a 1 year high of $10.23. The firm has a market capitalization of $2,364.34, a price-to-earnings ratio of 10.32 and a beta of 1.48.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Xact Kapitalforvaltning AB acquired a new stake in Cleveland-Cliffs during the 4th quarter worth about $215,000. Griffin Asset Management Inc. acquired a new stake in Cleveland-Cliffs during the 4th quarter worth about $275,000. Gotham Asset Management LLC acquired a new stake in Cleveland-Cliffs during the 4th quarter worth about $166,000. BB&T Securities LLC acquired a new stake in Cleveland-Cliffs during the 4th quarter worth about $205,000. Finally, Element Capital Management LLC acquired a new stake in Cleveland-Cliffs during the 4th quarter worth about $2,196,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.
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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