Cleveland-Cliffs Inc. (CLF)
Cleveland-Cliffs Stock Downgraded Again. 2 Reasons Wall Street's Worried.
J.P. Morgan analyst Bill Peterson downgraded shares of steel maker Cleveland-Cliffs to Hold from Buy. His price target went to $17 from $23.
Cleveland-Cliffs (CLF) Stock Dips While Market Gains: Key Facts
The latest trading day saw Cleveland-Cliffs (CLF) settling at $15.65, representing a -0.95% change from its previous close.
3 Stocks to Buy as Biden Tariffs Reduce the Glut of Cheap Chinese Steel
The Biden administration announced in May 2024 that it would not only leave the existing tariffs on Chinese steel and aluminum in place but is proposing to triple them. The implications for the United States steel industry is a simple matter of supply and demand.
Cleveland-Cliffs Stock Double Downgraded to Sell
Thursday, GLJ analyst Gordon Johnson cut his rating on Cleveland-Cliffs stock to Sell from Buy. He slashed his price target to $10.13 from $27.20.
Investors Heavily Search Cleveland-Cliffs Inc. (CLF): Here is What You Need to Know
Cleveland-Cliffs (CLF) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Is The Market Wrong About Steel? Why Cleveland-Cliffs Is A Steal
Traders are buying SOFR options, indicating a belief that interest rates may remain higher for longer. Steel stocks, such as Cleveland-Cliffs, tend to perform well when inflation is high. Cleveland-Cliffs has made strategic acquisitions, improved its balance sheet, and is positioned for future gains in the steel industry.
Cleveland-Cliffs (CLF) Outperforms Broader Market: What You Need to Know
In the latest trading session, Cleveland-Cliffs (CLF) closed at $16.94, marking a +0.18% move from the previous day.
Vanguard Personalized Indexing Management LLC Acquires 34,313 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)
Vanguard Personalized Indexing Management LLC boosted its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF – Free Report) by 191.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,218 shares of the mining company’s stock after buying an additional 34,313 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Cleveland-Cliffs were worth $1,066,000 at the end of the most recent reporting period. A number of other large investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its holdings in Cleveland-Cliffs by 37.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 36,218 shares of the mining company’s stock worth $566,000 after acquiring an additional 9,810 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Cleveland-Cliffs by 14.9% during the third quarter. Fifth Third Bancorp now owns 5,513 shares of the mining company’s stock valued at $86,000 after purchasing an additional 716 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Cleveland-Cliffs by 6.1% during the third quarter. Panagora Asset Management Inc. now owns 53,109 shares of the mining company’s stock valued at $830,000 after buying an additional 3,039 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Cleveland-Cliffs by 5.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 141,881 shares of the mining company’s stock worth $2,218,000 after buying an additional 7,661 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in Cleveland-Cliffs in the 3rd quarter worth about $384,000. Hedge funds and other institutional investors own 67.68% of the company’s stock. Cleveland-Cliffs Trading Down 0.9 % Shares of NYSE:CLF opened at $17.51 on Monday. The stock has a 50 day moving average of $20.00 and a 200 day moving average of $19.25. The company has a market cap of $8.33 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 0.94 and a beta of 2.10. Cleveland-Cliffs Inc. has a 12-month low of $13.61 and a 12-month high of $22.97. The company has a current ratio of 1.90, a quick ratio of 0.59 and a debt-to-equity ratio of 0.49. Cleveland-Cliffs (NYSE:CLF – Get Free Report) last posted its quarterly earnings results on Monday, April 22nd. The mining company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. Cleveland-Cliffs had a return on equity of 8.69% and a net margin of 1.78%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.11) earnings per share. As a group, equities research analysts expect that Cleveland-Cliffs Inc. will post 1.07 EPS for the current year. Cleveland-Cliffs announced that its Board of Directors has initiated a stock buyback program on Monday, April 22nd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the mining company to repurchase up to 17.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued. Analysts Set New Price Targets A number of analysts have recently issued reports on CLF shares. BNP Paribas downgraded shares of Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 price target on the stock. in a report on Wednesday, February 28th. Argus lowered shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. dropped their price target on Cleveland-Cliffs from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. B. Riley reduced their price objective on Cleveland-Cliffs from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Finally, Citigroup cut Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Cleveland-Cliffs has an average rating of “Hold” and a consensus target price of $20.42. Get Our Latest Stock Analysis on CLF Insiders Place Their Bets In other Cleveland-Cliffs news, Director Arlene M. Yocum acquired 2,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $20.02 per share, for a total transaction of $40,040.00. Following the completion of the transaction, the director now directly owns 94,887 shares of the company’s stock, valued at $1,899,637.74. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Ron A. Bloom bought 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average cost of $17.00 per share, with a total value of $425,000.00. Following the completion of the purchase, the director now owns 59,900 shares of the company’s stock, valued at approximately $1,018,300. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arlene M. Yocum purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of $20.02 per share, for a total transaction of $40,040.00. Following the purchase, the director now owns 94,887 shares in the company, valued at $1,899,637.74. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 87,000 shares of company stock worth $1,470,640 and sold 221,066 shares worth $4,464,688. 1.76% of the stock is currently owned by company insiders. About Cleveland-Cliffs (Free Report) 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.
