Cleveland-Cliffs (NYSE:CLF) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Cleveland-Cliffs (NYSE:CLF) from a hold rating to a sell rating in a research report report published on Thursday.

A number of other equities research analysts have also weighed in on the company. Morgan Stanley dropped their price target on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. Citigroup dropped their price target on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 10th. Finally, Seaport Res Ptn upgraded Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cleveland-Cliffs presently has an average rating of “Hold” and an average target price of $17.56.

Cleveland-Cliffs Price Performance

CLF opened at $12.87 on Thursday. The business’s 50-day moving average is $12.63 and its two-hundred day moving average is $14.49. Cleveland-Cliffs has a 1 year low of $10.21 and a 1 year high of $22.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.60. The firm has a market capitalization of $6.36 billion, a PE ratio of -13.27 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. Cleveland-Cliffs’s revenue was down 18.5% on a year-over-year basis. Research analysts anticipate that Cleveland-Cliffs will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cleveland-Cliffs

A number of large investors have recently bought and sold shares of CLF. Wealth Enhancement Advisory Services LLC boosted its position in Cleveland-Cliffs by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,053 shares of the mining company’s stock valued at $570,000 after buying an additional 476 shares during the last quarter. Quantbot Technologies LP acquired a new position in Cleveland-Cliffs in the first quarter valued at approximately $575,000. Illinois Municipal Retirement Fund lifted its holdings in Cleveland-Cliffs by 28.8% in the first quarter. Illinois Municipal Retirement Fund now owns 82,584 shares of the mining company’s stock valued at $1,878,000 after acquiring an additional 18,453 shares during the period. Tectonic Advisors LLC lifted its holdings in Cleveland-Cliffs by 26.7% in the first quarter. Tectonic Advisors LLC now owns 68,303 shares of the mining company’s stock valued at $1,553,000 after acquiring an additional 14,374 shares during the period. Finally, KCM Investment Advisors LLC lifted its holdings in Cleveland-Cliffs by 9.9% in the first quarter. KCM Investment Advisors LLC now owns 17,804 shares of the mining company’s stock valued at $405,000 after acquiring an additional 1,610 shares during the period. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Company Profile

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.