What is Zacks Research’s Forecast for CLF Q2 Earnings?

Cleveland-Cliffs Inc. (NYSE:CLF) – Investment analysts at Zacks Research lifted their Q2 2026 earnings per share (EPS) estimates for Cleveland-Cliffs in a research note issued on Thursday, March 20th. Zacks Research analyst A. Barman now forecasts that the mining company will post earnings per share of $0.16 for the quarter, up from their prior forecast of $0.14. The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.79) per share. Zacks Research also issued estimates for Cleveland-Cliffs’ Q4 2026 earnings at $0.04 EPS and FY2026 earnings at $0.33 EPS.

CLF has been the topic of a number of other research reports. B. Riley reiterated a “buy” rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. Glj Research reduced their target price on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group cut their price target on Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Citigroup cut their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, Morgan Stanley cut their price target on 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cleveland-Cliffs presently has an average rating of “Hold” and a consensus price target of $16.43.

Cleveland-Cliffs Stock Performance

CLF stock opened at $9.45 on Monday. 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 business’s fifty day simple moving average is $10.38 and its two-hundred day simple moving average is $11.29. Cleveland-Cliffs has a twelve month low of $8.50 and a twelve month high of $22.97. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of -9.74 and a beta of 1.94.

Cleveland-Cliffs (NYSE:CLF) last released its earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.03). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.46 billion.

Insider Activity at Cleveland-Cliffs

In related news, Director John T. Baldwin acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $8.70 per share, with a total value of $34,800.00. Following the completion of the transaction, the director now directly owns 133,227 shares in the company, valued at $1,159,074.90. This trade represents a 3.10 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Keith Koci acquired 9,500 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $10.81 per share, for a total transaction of $102,695.00. Following the transaction, the executive vice president now owns 543,475 shares of the company’s stock, valued at $5,874,964.75. This represents a 1.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 23,500 shares of company stock valued at $243,095 over the last quarter. 1.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cleveland-Cliffs

Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its holdings in Cleveland-Cliffs by 1.2% in the fourth quarter. California State Teachers Retirement System now owns 460,347 shares of the mining company’s stock worth $4,327,000 after acquiring an additional 5,485 shares in the last quarter. Jefferies Financial Group Inc. boosted its holdings in Cleveland-Cliffs by 1,151.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 150,037 shares of the mining company’s stock worth $1,410,000 after acquiring an additional 138,047 shares in the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new stake in Cleveland-Cliffs in the fourth quarter worth about $407,000. Toronto Dominion Bank boosted its holdings in Cleveland-Cliffs by 9,170.9% in the fourth quarter. Toronto Dominion Bank now owns 69,995 shares of the mining company’s stock worth $658,000 after acquiring an additional 69,240 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Cleveland-Cliffs by 22.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,298,868 shares of the mining company’s stock worth $12,209,000 after acquiring an additional 242,386 shares in the last quarter. Institutional investors and hedge funds 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.