Brokerages Set Cleveland-Cliffs Inc. (NYSE:CLF) PT at $16.68

Shares of Cleveland-Cliffs Inc. (NYSE:CLF) have received a consensus rating of “Hold” from the eleven ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $16.68.

CLF has been the topic of several recent analyst reports. Citigroup dropped their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group assumed coverage on Cleveland-Cliffs in a report on Monday, December 2nd. They issued a “buy” rating and a $16.00 target price on the stock. Finally, Morgan Stanley cut their price target on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd.

Cleveland-Cliffs Trading Up 1.1 %

NYSE:CLF opened at $11.98 on Friday. The company’s 50 day moving average is $10.19 and its 200-day moving average is $11.74. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs has a 12 month low of $8.99 and a 12 month high of $22.97. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of -12.35 and a beta of 1.96.

Institutional Trading of Cleveland-Cliffs

A number of institutional investors and hedge funds have recently modified their holdings of CLF. Altus Wealth Group LLC lifted its position in shares of Cleveland-Cliffs by 7.2% during the third quarter. Altus Wealth Group LLC now owns 11,900 shares of the mining company’s stock worth $152,000 after purchasing an additional 800 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Cleveland-Cliffs by 1.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 96,956 shares of the mining company’s stock worth $911,000 after purchasing an additional 932 shares during the last quarter. AllSquare Wealth Management LLC lifted its holdings in Cleveland-Cliffs by 24.4% during the 4th quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company’s stock worth $48,000 after buying an additional 1,000 shares in the last quarter. MRP Capital Investments LLC boosted its position in Cleveland-Cliffs by 10.0% in the 4th quarter. MRP Capital Investments LLC now owns 11,000 shares of the mining company’s stock valued at $103,000 after buying an additional 1,000 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Cleveland-Cliffs by 21.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,723 shares of the mining company’s stock valued at $63,000 after buying an additional 1,182 shares during the period. 67.68% of the stock is currently owned by institutional investors.

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.