FY2025 EPS Estimates for Cleveland-Cliffs Lowered by KeyCorp

Cleveland-Cliffs Inc. (NYSE:CLF) – KeyCorp decreased their FY2025 EPS estimates for shares of Cleveland-Cliffs in a research note issued to investors on Monday, February 10th. KeyCorp analyst P. Gibbs now forecasts that the mining company will earn ($0.71) per share for the year, down from their previous estimate of ($0.60). The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.70) per share.

Several other research firms also recently commented on CLF. The Goldman Sachs Group initiated coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They issued a “buy” rating and a $16.00 target price for the company. Morgan Stanley decreased their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Citigroup reduced their price objective on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Finally, Glj Research raised shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price target for the company in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.68.

Cleveland-Cliffs Stock Performance

CLF stock opened at $11.40 on Thursday. 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 company has a market capitalization of $5.63 billion, a price-to-earnings ratio of -11.75 and a beta of 1.96. Cleveland-Cliffs has a 12 month low of $8.99 and a 12 month high of $22.97. The firm has a 50 day moving average of $10.20 and a two-hundred day moving average of $11.85.

Hedge Funds Weigh In On Cleveland-Cliffs

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Cleveland-Cliffs by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company’s stock worth $458,267,000 after buying an additional 2,556,332 shares during the period. Pacer Advisors Inc. lifted its stake in Cleveland-Cliffs by 13.7% in the third quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock valued at $330,665,000 after buying an additional 3,110,651 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cleveland-Cliffs by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 8,466,747 shares of the mining company’s stock valued at $79,611,000 after buying an additional 264,078 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Cleveland-Cliffs by 20.1% in the fourth quarter. Bank of New York Mellon Corp now owns 7,382,769 shares of the mining company’s stock valued at $69,398,000 after buying an additional 1,236,247 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Cleveland-Cliffs in the fourth quarter worth $45,381,000. 67.68% of the stock is owned by institutional investors.

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.