Cleveland-Cliffs (NYSE:CLF) Reaches New 52-Week High at $21.47

Cleveland-Cliffs Inc. (NYSE:CLFGet Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $21.47 and last traded at $21.26, with a volume of 1336858 shares trading hands. The stock had previously closed at $21.20.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. TheStreet downgraded shares of Cleveland-Cliffs from a “b-” rating to a “c” rating in a report on Tuesday, January 30th. BNP Paribas downgraded Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 target price on the stock. in a report on Wednesday, February 28th. Citigroup downgraded Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 target price on the stock. in a report on Wednesday, March 13th. StockNews.com downgraded Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, Argus downgraded Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.30.

View Our Latest Analysis on Cleveland-Cliffs

Cleveland-Cliffs Stock Up 1.0 %

The company has a quick ratio of 0.62, a current ratio of 1.89 and a debt-to-equity ratio of 0.39. The stock has a market cap of $10.67 billion, a P/E ratio of 27.70, a PEG ratio of 0.68 and a beta of 2.02. The business has a 50-day simple moving average of $19.66 and a 200-day simple moving average of $17.80.

Cleveland-Cliffs (NYSE:CLFGet Free Report) last issued its earnings results on Tuesday, January 30th. The mining company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.16 billion. Cleveland-Cliffs had a return on equity of 6.79% and a net margin of 1.81%. Cleveland-Cliffs’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.30) earnings per share. Analysts expect that Cleveland-Cliffs Inc. will post 1.95 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Terry G. Fedor sold 27,430 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total value of $553,811.70. Following the completion of the sale, the executive vice president now directly owns 534,617 shares in the company, valued at $10,793,917.23. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Cleveland-Cliffs news, EVP Terry G. Fedor sold 27,430 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total transaction of $553,811.70. Following the transaction, the executive vice president now owns 534,617 shares in the company, valued at $10,793,917.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ron A. Bloom bought 25,000 shares of Cleveland-Cliffs stock in a transaction on Thursday, February 1st. The shares were bought at an average price of $20.24 per share, for a total transaction of $506,000.00. Following the acquisition, the director now owns 27,221 shares of the company’s stock, valued at approximately $550,953.04. The disclosure for this purchase can be found here. Insiders sold 221,066 shares of company stock worth $4,464,688 over the last three months. 1.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cleveland-Cliffs

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. True Vision MN LLC acquired a new position in shares of Cleveland-Cliffs during the 4th quarter worth approximately $496,000. Creekmur Asset Management LLC bought a new position in shares of Cleveland-Cliffs during the 4th quarter worth approximately $45,000. Pineridge Advisors LLC bought a new position in shares of Cleveland-Cliffs during the 4th quarter worth approximately $57,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Cleveland-Cliffs by 801.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,608,984 shares of the mining company’s stock worth $53,277,000 after acquiring an additional 2,319,486 shares during the period. Finally, Hobbs Group Advisors LLC bought a new position in shares of Cleveland-Cliffs during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 60.97% of the company’s stock.

About Cleveland-Cliffs

(Get 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.

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