Brokers Issue Forecasts for CLF FY2025 Earnings

Cleveland-Cliffs Inc. (NYSE:CLF) – Stock analysts at KeyCorp issued their FY2025 earnings per share estimates for Cleveland-Cliffs in a research note issued on Monday, July 21st. KeyCorp analyst P. Gibbs expects that the mining company will post earnings of ($1.85) per share for the year. KeyCorp currently has a “Overweight” rating and a $14.00 target price on the stock. The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.79) per share. KeyCorp also issued estimates for Cleveland-Cliffs’ FY2026 earnings at $0.42 EPS.

Several other analysts have also weighed in on the company. Citigroup boosted their price objective on Cleveland-Cliffs from $7.50 to $11.00 and gave the company a “neutral” rating in a report on Monday. Morgan Stanley boosted their price objective on Cleveland-Cliffs from $8.00 to $10.50 and gave the company an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group lowered their price objective on Cleveland-Cliffs from $13.00 to $11.25 and set a “buy” rating for the company in a report on Monday, May 12th. Glj Research lowered Cleveland-Cliffs from a “strong-buy” rating to a “strong sell” rating and set a $3.91 price objective for the company. in a report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Cleveland-Cliffs from $7.50 to $10.00 and gave the company a “neutral” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.09.

Cleveland-Cliffs Stock Down 3.1%

Shares of NYSE CLF opened at $10.92 on Thursday. Cleveland-Cliffs has a 1 year low of $5.63 and a 1 year high of $15.71. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of -3.20 and a beta of 1.91. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.64 and a current ratio of 2.04. The stock’s 50-day simple moving average is $7.99 and its 200-day simple moving average is $8.83.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Monday, July 21st. The mining company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.18. Cleveland-Cliffs had a negative return on equity of 17.97% and a negative net margin of 9.03%. The business had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the previous year, the company earned $0.11 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year.

Insider Buying and Selling

In other Cleveland-Cliffs news, EVP James D. Graham sold 120,000 shares of Cleveland-Cliffs stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $6.85, for a total value of $822,000.00. Following the completion of the transaction, the executive vice president directly owned 492,249 shares in the company, valued at $3,371,905.65. The trade was a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cleveland-Cliffs

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Cleveland-Cliffs by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company’s stock valued at $458,267,000 after acquiring an additional 2,556,332 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cleveland-Cliffs by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,247,426 shares of the mining company’s stock valued at $199,724,000 after acquiring an additional 647,282 shares during the period. Slate Path Capital LP boosted its stake in Cleveland-Cliffs by 35.4% in the fourth quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company’s stock valued at $152,355,000 after acquiring an additional 4,239,000 shares during the period. Geode Capital Management LLC boosted its position in shares of Cleveland-Cliffs by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 8,466,747 shares of the mining company’s stock worth $79,611,000 after buying an additional 264,078 shares during the period. Finally, Fairfax Financial Holdings Ltd. Can acquired a new position in shares of Cleveland-Cliffs during the fourth quarter worth approximately $55,453,000. 67.68% of the stock is currently owned by institutional investors and hedge funds.

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.