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

By Jason Carr

B.Riley FBR analyst Lucas Pipes reiterated a Buy rating on Cleveland-Cliffs (CLFResearch Report) yesterday and set a price target of $10.00. The company’s shares closed last Tuesday at $4.10, close to its 52-week low of $2.64.

According to TipRanks.com, Pipes has currently no stars on a ranking scale of 0-5 stars, with an average return of -17.4% and a 34.1% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Hallador Energy Company, Novagold Resources New, and CONSOL Coal Resources.

Cleveland-Cliffs has an analyst consensus of Moderate Buy, with a price target consensus of $6.70.

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Cleveland-Cliffs’ market cap is currently $1.63B and has a P/E ratio of 3.90. The company has a Price to Book ratio of 4.51.

Based on the recent corporate insider activity of 76 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. The Mining & Pelletizing segment owns operational iron ore mines plus and indefinitely idled mine. The Metallics segment constructs an HBI production plant in Toledo, Ohio. The company was founded in 1847 and is headquartered in Cleveland, OH.