Cleveland-Cliffs (CLF) Stock Price Up 5.4%
Cleveland-Cliffs Inc (NYSE:CLF) shares rose 5.4% during mid-day trading on Wednesday . The stock traded as high as $11.23 and last traded at $11.13. Approximately 15,155,461 shares were traded during mid-day trading, an increase of 27% from the average daily volume of 11,948,496 shares. The stock had previously closed at $10.56.
CLF has been the subject of several research reports. Citigroup initiated coverage on Cleveland-Cliffs in a research report on Wednesday, June 6th. They issued a “buy” rating and a $11.00 target price for the company. Jefferies Financial Group raised Cleveland-Cliffs to a “buy” rating and set a $13.00 target price for the company in a research report on Friday, September 7th. Zacks Investment Research lowered Cleveland-Cliffs from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 6th. B. Riley upped their price target on Cleveland-Cliffs from $12.00 to $13.00 and gave the stock a “$10.88” rating in a research note on Monday, July 23rd. Finally, ValuEngine downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $10.80.
The company has a quick ratio of 2.72, a current ratio of 3.26 and a debt-to-equity ratio of -7.50. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 22.24 and a beta of 1.71.
Several institutional investors have recently bought and sold shares of CLF. Swiss National Bank grew its stake in shares of Cleveland-Cliffs by 3.5% in the 1st quarter. Swiss National Bank now owns 490,400 shares of the mining company’s stock worth $3,408,000 after buying an additional 16,400 shares during the last quarter. LSV Asset Management purchased a new stake in Cleveland-Cliffs during the 1st quarter valued at $322,000. Schwab Charles Investment Management Inc. boosted its stake in Cleveland-Cliffs by 9.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,855,548 shares of the mining company’s stock valued at $12,897,000 after purchasing an additional 162,626 shares during the last quarter. ETRADE Capital Management LLC purchased a new stake in Cleveland-Cliffs during the 1st quarter valued at $204,000. Finally, Aperio Group LLC boosted its stake in Cleveland-Cliffs by 17.6% during the 1st quarter. Aperio Group LLC now owns 53,470 shares of the mining company’s stock valued at $372,000 after purchasing an additional 7,984 shares during the last quarter. Institutional investors own 67.57% of the company’s stock.
About Cleveland-Cliffs (NYSE:CLF)
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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