B. Riley Research Analysts Cut Earnings Estimates for CLF

Cleveland-Cliffs Inc. (NYSE:CLF) – Research analysts at B. Riley decreased their FY2026 EPS estimates for Cleveland-Cliffs in a research report issued on Tuesday, November 12th. B. Riley analyst L. Pipes now expects that the mining company will earn $2.02 per share for the year, down from their previous estimate of $2.30. The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.37) per share.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same period in the prior year, the business earned $0.54 EPS. The business’s revenue for the quarter was down 18.5% on a year-over-year basis.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. StockNews.com cut Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Citigroup decreased their target price on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.56.

Cleveland-Cliffs Stock Down 0.5 %

NYSE CLF opened at $11.93 on Wednesday. The stock has a market capitalization of $5.89 billion, a P/E ratio of -12.29 and a beta of 1.97. Cleveland-Cliffs has a 52 week low of $10.21 and a 52 week high of $22.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. The stock has a fifty day moving average of $12.61 and a 200-day moving average of $14.36.

Hedge Funds Weigh In On Cleveland-Cliffs

A number of large investors have recently added to or reduced their stakes in CLF. Strengthening Families & Communities LLC grew its holdings in shares of 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. Altshuler Shaham Ltd acquired a new position in Cleveland-Cliffs during the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new position in shares of Cleveland-Cliffs during the 2nd quarter worth approximately $31,000. Gradient Investments LLC raised its holdings in shares of Cleveland-Cliffs by 138.8% in the second quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock valued at $33,000 after purchasing an additional 1,249 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of Cleveland-Cliffs in the third quarter worth $34,000. Institutional investors own 67.68% of the company’s stock.

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.