B.Riley FBR Maintains a Buy Rating on Cleveland-Cliffs (CLF)

By Austin Angelo

In a report released today, Lucas Pipes from B.Riley FBR maintained a Buy rating on Cleveland-Cliffs (CLFResearch Report), with a price target of $10.00. The company’s shares closed last Thursday at $3.53, close to its 52-week low of $2.64.

According to TipRanks.com, Pipes is ranked 0 out of 5 stars with an average return of -17.6% and a 34.9% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Hallador Energy Company, Novagold Resources New, and CONSOL Coal Resources.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cleveland-Cliffs with a $6.33 average price target.

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The company has a one-year high of $11.61 and a one-year low of $2.64. Currently, Cleveland-Cliffs has an average volume of 13.06M.

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.