Cleveland Cliffs (NYSE: CLF) recently received a boost in its target price from analysts at KeyCorp. They raised it from an earlier $14.00 to the latest $17.00. The brokerage also recommended an “overweight” rating on the company. Owing to this boost in the target price, Cleveland Cliffs reached a record 12-monthly high while trading this Wednesday, December 23rd.
CLF stocks closed at $14.54 this Wednesday reaching a high of $14.64. The stock’s last close was $13.83. The company’ current market capitalization stands at $5.80 billion. It has a negative PE ratio of 49.39, along with a beta value of 2.27 at the moment. The 50SMA (50 Days Simple Moving Average) stands at $10.88 and its 200SMA stands at $7.50.
Cleveland Cliffs (NYSE: CLF) Stock Analysis
The quarterly earnings report for the previous quarter was released on the 23rd of October. The earnings stood at $0.02 EPS as opposed to the general consensus of $0.10. The company’s return on equity stands at -2.69% along with the net margin of 3.38%. The estimated income for the firm was marked at $1.67 billion but it made $1.65 billion for the quarter.
During the corresponding quarter previous year, the company’s EPS was reported to be $0.33. From this, it can be estimated that the company’s revenue has increased by 196.3% on a yearly basis. Analysts further estimate that the FY2020 EPS will stand at -0.31 for this company.
NYSE: CLF has recently been the subject of a lot of reports by research analysts. Some such as Zacks Investment Research, ValuEngine, B. Riley, Credit-Suisse Group, and so on have posted reports on this firm over the last few months.
The recent consensus rating of this iron ore mining company based in the United States company stands at “Buy”. The consensus estimate on the target price is $9.53. Several hedge funds have also been involved in buying and selling of this company’s shares recently.