B.Riley FBR Keeps Their Buy Rating on Cleveland-Cliffs Inc (CLF)


In a report released today, Lucas Pipes from B.Riley FBR maintained a Buy rating on Cleveland-Cliffs Inc (CLF), with a price target of $13.00. The company’s shares closed last Monday at $7.22, close to its 52-week low of $6.64.

According to TipRanks.com, Pipes has 0 stars on 0-5 star ranking scale with an average return of -5.4% and a 40.5% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Novagold Resources Inc New, and Covia Holdings Corporation.

Currently, the analyst consensus on Cleveland-Cliffs Inc is a Moderate Buy with an average price target of $10.71, implying a 50.2% upside from current levels. In a report issued on September 24, Macquarie also maintained a Buy rating on the stock with a $10.00 price target.

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Cleveland-Cliffs Inc’s market cap is currently $1.95B and has a P/E ratio of 1.86. The company has a Price to Book ratio of 6.83.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CLF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Cleveland-Cliffs, Inc. is an iron ore mining company. It supplies iron ore pellets to the North American steel industry from mines and pellet plants located in Michigan and Minnesota. It operates through the following segments: Mining & Pelletizing and Metallics.

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