Brokers Issue Forecasts for CLF FY2025 Earnings

Cleveland-Cliffs Inc. (NYSE:CLF) – Equities researchers at KeyCorp issued their FY2025 earnings estimates for Cleveland-Cliffs in a report released on Tuesday, January 21st. KeyCorp analyst P. Gibbs expects that the mining company will post earnings per share of ($0.60) for the year. The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.67) per share.

Cleveland-Cliffs (NYSE:CLF) last released 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 firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the previous year, the business posted $0.54 earnings per share. Cleveland-Cliffs’s revenue for the quarter was down 18.5% on a year-over-year basis.

CLF has been the topic of several other research reports. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group initiated coverage on Cleveland-Cliffs in a research note on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective for the company. Finally, Citigroup lowered their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cleveland-Cliffs currently has an average rating of “Hold” and a consensus price target of $16.93.

Cleveland-Cliffs Price Performance

CLF stock opened at $9.72 on Thursday. The stock’s 50 day moving average is $10.70 and its two-hundred day moving average is $12.39. Cleveland-Cliffs has a 52-week low of $8.99 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.

Hedge Funds Weigh In On Cleveland-Cliffs

Institutional investors and hedge funds have recently modified their holdings of the stock. Twelve Points Wealth Management LLC raised its holdings in shares of Cleveland-Cliffs by 11.2% during the 4th quarter. Twelve Points Wealth Management LLC now owns 148,672 shares of the mining company’s stock valued at $1,398,000 after purchasing an additional 14,955 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Cleveland-Cliffs by 11.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 13,270 shares of the mining company’s stock valued at $125,000 after acquiring an additional 1,313 shares during the period. Stonegate Investment Group LLC acquired a new stake in Cleveland-Cliffs in the 4th quarter valued at approximately $18,999,000. Secure Asset Management LLC grew its stake in shares of Cleveland-Cliffs by 13.1% in the fourth quarter. Secure Asset Management LLC now owns 31,390 shares of the mining company’s stock worth $295,000 after acquiring an additional 3,625 shares during the last quarter. Finally, D.B. Root & Company LLC acquired a new stake in Cleveland-Cliffs in the 4th quarter worth $95,000. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

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.