B. Riley Securities has decided to maintain its Buy rating of Cleveland-Cliffs CLF and lower its price target from $37.00 to $32.00.
Shares of Cleveland-Cliffs are trading up 3.63% over the last 24 hours, at $13.55 per share.
A move to $32.00 would account for a 136.08% increase from the current share price.
Cleveland-Cliffs Inc is a flat-rolled steel producer and a manufacturer of iron ore pellets in North America. It is vertically integrated from mined raw materials and direct reduced iron to primary steelmaking and downstream finishing, stamping, tooling and tubing. The company serves a diverse range of markets due to its comprehensive offering of flat-rolled steel products and supplying of steel to the automotive industry in North America. The group employs approximately 26,000 people across its mining, steel and downstream manufacturing operations in the United States and Canada.
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