Zacks Research Brokers Boost Earnings Estimates for CLF

Cleveland-Cliffs Inc. (NYSE:CLF) – Zacks Research boosted their Q3 2027 earnings per share estimates for Cleveland-Cliffs in a note issued to investors on Friday, December 19th. Zacks Research analyst Team now expects that the mining company will earn $0.11 per share for the quarter, up from their previous estimate of $0.10. The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.79) per share. Zacks Research also issued estimates for Cleveland-Cliffs’ FY2027 earnings at $0.43 EPS.

Several other analysts have also recently weighed in on the stock. Glj Research reiterated a “sell” rating and issued a $5.75 price objective on shares of Cleveland-Cliffs in a research note on Tuesday, October 21st. KeyCorp dropped their price target on shares of Cleveland-Cliffs from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Bank of America boosted their price target on Cleveland-Cliffs from $12.50 to $14.50 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Wells Fargo & Company upgraded Cleveland-Cliffs from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $11.00 to $12.00 in a research note on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.78.

Cleveland-Cliffs Trading Up 1.1%

Shares of Cleveland-Cliffs stock opened at $13.89 on Monday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.61 and a current ratio of 2.04. The firm has a 50-day moving average of $12.41 and a 200-day moving average of $11.01. Cleveland-Cliffs has a 52-week low of $5.63 and a 52-week high of $16.70. The stock has a market cap of $6.87 billion, a PE ratio of -4.08 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Monday, October 20th. The mining company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.03. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.90 billion. Cleveland-Cliffs had a negative return on equity of 20.02% and a negative net margin of 9.00%.The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.33) EPS.

Hedge Funds Weigh In On Cleveland-Cliffs

Large investors have recently bought and sold shares of the company. Hunter Associates Investment Management LLC increased its stake in Cleveland-Cliffs by 43.5% during the 2nd quarter. Hunter Associates Investment Management LLC now owns 70,898 shares of the mining company’s stock valued at $538,000 after purchasing an additional 21,498 shares in the last quarter. Nuveen LLC bought a new stake in shares of Cleveland-Cliffs during the first quarter worth about $9,416,000. Algert Global LLC bought a new stake in shares of Cleveland-Cliffs during the first quarter worth about $442,000. Northern Trust Corp raised its holdings in shares of Cleveland-Cliffs by 1.4% in the 1st quarter. Northern Trust Corp now owns 4,014,436 shares of the mining company’s stock worth $32,999,000 after acquiring an additional 54,244 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in Cleveland-Cliffs by 66.5% in the 2nd quarter. Quantbot Technologies LP now owns 794,437 shares of the mining company’s stock valued at $6,038,000 after acquiring an additional 317,352 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.