Q4 Earnings Forecast for Cleveland-Cliffs Issued By B. Riley

Cleveland-Cliffs Inc. (NYSE:CLF) – Investment analysts at B. Riley cut their Q4 2024 earnings per share estimates for shares of Cleveland-Cliffs in a research note issued on Tuesday, November 12th. B. Riley analyst L. Pipes now anticipates that the mining company will post earnings of ($0.49) per share for the quarter, down from their prior estimate of ($0.20). The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.37) per share. B. Riley also issued estimates for Cleveland-Cliffs’ Q1 2025 earnings at ($0.24) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.25 EPS, FY2025 earnings at $0.13 EPS, Q1 2026 earnings at $0.50 EPS, Q2 2026 earnings at $0.50 EPS and Q3 2026 earnings at $0.51 EPS.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.72 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. Cleveland-Cliffs’s revenue was down 18.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS.

Other equities research analysts also recently issued reports about the company. Morgan Stanley dropped their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Citigroup decreased their price objective on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Finally, Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Three analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.56.

Cleveland-Cliffs Trading Down 0.5 %

NYSE:CLF opened at $11.93 on Thursday. The business’s 50-day moving average is $12.61 and its two-hundred day moving average is $14.36. The firm has a market capitalization of $5.89 billion, a PE ratio of -12.29 and a beta of 1.97. Cleveland-Cliffs has a 12 month low of $10.21 and a 12 month high of $22.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55.

Institutional Trading of Cleveland-Cliffs

Hedge funds and other institutional investors have recently bought and sold shares of the company. Strengthening Families & Communities LLC grew its position in shares of Cleveland-Cliffs by 299.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after acquiring an additional 1,490 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in Cleveland-Cliffs in the second quarter worth $26,000. Hobbs Group Advisors LLC bought a new stake in Cleveland-Cliffs during the second quarter valued at $31,000. Gradient Investments LLC raised its holdings in shares of Cleveland-Cliffs by 138.8% during the second quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock worth $33,000 after purchasing an additional 1,249 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in shares of Cleveland-Cliffs in the 3rd quarter worth about $34,000. 67.68% of the stock is owned by institutional investors.

About Cleveland-Cliffs

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.