Brokerages Set Cleveland-Cliffs Inc (CLF) PT at $11.55
Cleveland-Cliffs Inc (NYSE:CLF) has been assigned an average rating of “Hold” from the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $11.55.
A number of research analysts have recently commented on CLF shares. Jefferies Financial Group upgraded shares of Cleveland-Cliffs to a “buy” rating and set a $13.00 price target on the stock in a report on Friday, September 7th. Zacks Investment Research upgraded shares of Cleveland-Cliffs from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Tuesday, October 9th. Citigroup upped their price target on shares of Cleveland-Cliffs from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, October 5th. B. Riley set a $15.00 price target on shares of Cleveland-Cliffs and gave the stock a “buy” rating in a report on Wednesday, September 26th. Finally, Morgan Stanley upped their price target on shares of Cleveland-Cliffs from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, July 27th.
A number of institutional investors have recently modified their holdings of CLF. Tower Research Capital LLC TRC grew its holdings in Cleveland-Cliffs by 1,248.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,999 shares of the mining company’s stock worth $101,000 after acquiring an additional 11,109 shares in the last quarter. NEXT Financial Group Inc bought a new position in Cleveland-Cliffs during the 3rd quarter worth about $122,000. Edge Wealth Management LLC bought a new position in Cleveland-Cliffs during the 3rd quarter worth about $127,000. Trexquant Investment LP bought a new position in Cleveland-Cliffs during the 2nd quarter worth about $131,000. Finally, Summit X LLC bought a new position in Cleveland-Cliffs during the 3rd quarter worth about $152,000. Institutional investors own 69.44% of the company’s stock.
Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Friday, October 19th. The mining company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.02). The company had revenue of $742.00 million during the quarter, compared to the consensus estimate of $736.06 million. Cleveland-Cliffs had a negative return on equity of 146.72% and a net margin of 36.43%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 earnings per share. On average, research analysts predict that Cleveland-Cliffs will post 2.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Friday, January 4th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.12%. The ex-dividend date is Thursday, January 3rd.
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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