KeyCorp Decreases Earnings Estimates for Cleveland-Cliffs

Cleveland-Cliffs Inc. (NYSE:CLF) – Investment analysts at KeyCorp reduced their FY2025 EPS estimates for Cleveland-Cliffs in a research report issued to clients and investors on Monday, February 10th. KeyCorp analyst P. Gibbs now anticipates that the mining company will earn ($0.71) per share for the year, down from their previous estimate of ($0.60). The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.70) per share.

Several other equities analysts also recently commented on the stock. Glj Research upgraded shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective on the stock in a report on Tuesday, January 7th. Morgan Stanley decreased their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. StockNews.com downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. The Goldman Sachs Group started coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They issued a “buy” rating and a $16.00 price target on the stock. Finally, Citigroup decreased their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.68.

Cleveland-Cliffs Price Performance

NYSE:CLF opened at $11.40 on Thursday. Cleveland-Cliffs has a one year low of $8.99 and a one year high of $22.97. The company has a market cap of $5.63 billion, a P/E ratio of -11.75 and a beta of 1.96. The firm’s fifty day moving average price is $10.20 and its two-hundred day moving average price is $11.85. 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 Investors Weigh In On Cleveland-Cliffs

A number of large investors have recently bought and sold shares of CLF. Strengthening Families & Communities LLC grew its stake in Cleveland-Cliffs by 299.8% during the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after buying an additional 1,490 shares in the last quarter. Pinpoint Asset Management Ltd acquired a new stake in Cleveland-Cliffs during the fourth quarter worth about $25,000. Darwin Wealth Management LLC acquired a new stake in Cleveland-Cliffs during the third quarter worth about $34,000. Truvestments Capital LLC acquired a new stake in Cleveland-Cliffs during the third quarter worth about $34,000. Finally, Estabrook Capital Management grew its stake in Cleveland-Cliffs by 207.7% during the fourth quarter. Estabrook Capital Management now owns 4,000 shares of the mining company’s stock worth $38,000 after buying an additional 2,700 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

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.