Research Analysts Issue Forecasts for CLF FY2025 Earnings

Cleveland-Cliffs Inc. (NYSE:CLF) – Investment analysts at B. Riley lowered their FY2025 earnings per share (EPS) estimates for Cleveland-Cliffs in a note issued to investors on Tuesday, December 17th. B. Riley analyst L. Pipes now expects that the mining company will post earnings of $0.12 per share for the year, down from their previous estimate of $0.13. The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.45) per share.

Other equities research analysts also recently issued research reports about the stock. Citigroup cut their target price 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. The Goldman Sachs Group began coverage on Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective for the company. Morgan Stanley lowered 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 downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Seaport Res Ptn upgraded shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.39.

Cleveland-Cliffs Stock Performance

Shares of NYSE CLF traded down $0.12 during trading on Thursday, reaching $9.42. 3,548,321 shares of the company traded hands, compared to its average volume of 10,589,799. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The firm has a 50 day simple moving average of $12.37 and a 200-day simple moving average of $13.37. Cleveland-Cliffs has a 52-week low of $9.41 and a 52-week high of $22.97. The stock has a market capitalization of $4.65 billion, a PE ratio of -9.71 and a beta of 1.92.

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

Institutional Investors Weigh In On Cleveland-Cliffs

Institutional investors have recently bought and sold shares of the business. Strengthening Families & Communities LLC boosted its stake in shares of Cleveland-Cliffs by 299.8% in the third 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 during the period. Altshuler Shaham Ltd bought a new position in Cleveland-Cliffs in the 2nd quarter worth approximately $26,000. Darwin Wealth Management LLC purchased a new stake in Cleveland-Cliffs during the 3rd quarter valued at approximately $34,000. Truvestments Capital LLC bought a new stake in shares of Cleveland-Cliffs during the third quarter valued at approximately $34,000. Finally, Blue Trust Inc. lifted its holdings in shares of Cleveland-Cliffs by 231.9% in the third quarter. Blue Trust Inc. now owns 3,634 shares of the mining company’s stock worth $46,000 after buying an additional 2,539 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

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.