Cleveland-Cliffs Inc (NYSE:CLF) – Analysts at B. Riley decreased their Q2 2019 earnings per share (EPS) estimates for Cleveland-Cliffs in a research report issued on Wednesday, May 22nd. B. Riley analyst L. Pipes now anticipates that the mining company will post earnings of $0.60 per share for the quarter, down from their previous estimate of $1.00. B. Riley currently has a “Buy” rating and a $15.00 target price on the stock. B. Riley also issued estimates for Cleveland-Cliffs’ FY2019 earnings at $2.00 EPS.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Thursday, April 25th. The mining company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. Cleveland-Cliffs had a return on equity of 786.91% and a net margin of 51.54%. The firm had revenue of $157.00 million for the quarter, compared to the consensus estimate of $116.91 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The firm’s revenue was down 12.8% on a year-over-year basis.

A number of other brokerages have also recently issued reports on CLF. JPMorgan Chase & Co. upped their target price on Cleveland-Cliffs to $17.00 and gave the stock an “overweight” rating in a research report on Monday, February 11th. Jefferies Financial Group upped their target price on Cleveland-Cliffs from $11.50 to $13.75 and gave the stock a “buy” rating in a research report on Friday, February 8th. TheStreet raised Cleveland-Cliffs from a “c+” rating to a “b” rating in a research report on Wednesday, February 20th. Cowen reaffirmed a “market perform” rating and set a $11.00 target price (up previously from $8.50) on shares of Cleveland-Cliffs in a research report on Thursday, February 7th. Finally, Citigroup upped their target price on Cleveland-Cliffs to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Cleveland-Cliffs currently has an average rating of “Buy” and a consensus price target of $12.50.

Shares of Cleveland-Cliffs stock opened at $9.31 on Friday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 4.37 and a beta of 1.78. The company has a debt-to-equity ratio of 7.97, a current ratio of 2.86 and a quick ratio of 1.82. Cleveland-Cliffs has a 12-month low of $7.40 and a 12-month high of $13.10.

Institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP boosted its position in shares of Cleveland-Cliffs by 74.4% in the fourth quarter. First Trust Advisors LP now owns 389,985 shares of the mining company’s stock valued at $2,999,000 after acquiring an additional 166,416 shares during the period. Rhumbline Advisers boosted its position in shares of Cleveland-Cliffs by 40.5% in the fourth quarter. Rhumbline Advisers now owns 438,529 shares of the mining company’s stock valued at $3,372,000 after acquiring an additional 126,374 shares during the period. Legal & General Group Plc boosted its position in shares of Cleveland-Cliffs by 4.4% in the fourth quarter. Legal & General Group Plc now owns 271,819 shares of the mining company’s stock valued at $2,091,000 after acquiring an additional 11,546 shares during the period. D.A. Davidson & CO. boosted its position in shares of Cleveland-Cliffs by 26.6% in the fourth quarter. D.A. Davidson & CO. now owns 32,959 shares of the mining company’s stock valued at $253,000 after acquiring an additional 6,925 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Cleveland-Cliffs by 9.5% in the fourth quarter. Amalgamated Bank now owns 40,071 shares of the mining company’s stock valued at $308,000 after acquiring an additional 3,481 shares during the period. 77.69% of the stock is owned by institutional investors.

In other Cleveland-Cliffs news, Director Eric M. Rychel acquired 5,000 shares of Cleveland-Cliffs stock in a transaction dated Monday, May 13th. The stock was bought at an average cost of $9.70 per share, with a total value of $48,500.00. Following the completion of the transaction, the director now owns 24,845 shares of the company’s stock, valued at $240,996.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith Koci acquired 9,000 shares of Cleveland-Cliffs stock in a transaction dated Wednesday, February 27th. The stock was acquired at an average cost of $11.52 per share, with a total value of $103,680.00. Following the completion of the transaction, the chief financial officer now directly owns 39,349 shares of the company’s stock, valued at approximately $453,300.48. The disclosure for this purchase can be found here. Insiders have acquired 26,500 shares of company stock valued at $273,630 in the last ninety days. Company insiders own 1.32% of the company’s stock.

About Cleveland-Cliffs

Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.

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Earnings History and Estimates for Cleveland-Cliffs (NYSE:CLF)

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