Research Analysts Set Expectations for CLF FY2025 Earnings

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

Several other equities analysts also recently commented on the stock. Citigroup decreased their price objective on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday. StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Seaport Res Ptn upgraded Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Morgan Stanley lowered their price target on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Finally, The Goldman Sachs Group assumed coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.22.

Cleveland-Cliffs Stock Performance

Shares of CLF stock opened at $9.38 on Thursday. Cleveland-Cliffs has a one year low of $9.13 and a one year high of $22.97. The stock has a market cap of $4.63 billion, a P/E ratio of -9.67 and a beta of 1.92. The company has a fifty day moving average price of $12.30 and a two-hundred day moving average price of $13.35. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55.

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

Hedge Funds Weigh In On Cleveland-Cliffs

Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. boosted its holdings in Cleveland-Cliffs by 105.6% in the 3rd quarter. Franklin Resources Inc. now owns 262,771 shares of the mining company’s stock worth $3,429,000 after buying an additional 134,939 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Cleveland-Cliffs in the 3rd quarter worth approximately $64,000. Arete Wealth Advisors LLC purchased a new stake in shares of Cleveland-Cliffs in the third quarter worth $1,222,000. Neo Ivy Capital Management purchased a new stake in shares of Cleveland-Cliffs in the 3rd quarter valued at about $1,444,000. Finally, First Dallas Securities Inc. grew its holdings in shares of Cleveland-Cliffs by 27.9% during the third quarter. First Dallas Securities Inc. now owns 206,750 shares of the mining company’s stock worth $2,640,000 after purchasing an additional 45,150 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Company Profile

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.