FY2025 EPS Estimates for Cleveland-Cliffs Reduced by KeyCorp

Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) - Investment analysts at KeyCorp lowered their FY2025 earnings estimates for shares of Cleveland-Cliffs in a research report issued on Monday, February 10th. KeyCorp analyst P. Gibbs now anticipates that the mining company will post earnings per share of ($0.71) 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 analysts also recently commented on the company. The Goldman Sachs Group assumed coverage on Cleveland-Cliffs in a research note on Monday, December 2nd. They set a "buy" rating and a $16.00 target price for the company. Glj Research raised shares of 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. Citigroup dropped their price objective on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, December 19th. StockNews.com cut shares of Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Finally, Morgan Stanley lowered 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 report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $16.68.

Cleveland-Cliffs Stock Performance

NYSE CLF traded up $0.10 during trading on Thursday, reaching $11.49. 14,740,169 shares of the company's stock were exchanged, compared to its average volume of 11,458,728. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The business has a 50 day moving average price of $10.19 and a 200-day moving average price of $11.78. The stock has a market capitalization of $5.67 billion, a P/E ratio of -11.84 and a beta of 1.96. Cleveland-Cliffs has a fifty-two week low of $8.99 and a fifty-two week high of $22.97.

Institutional Trading of Cleveland-Cliffs

A number of institutional investors have recently bought and sold shares of CLF. Fairfax Financial Holdings Ltd. Can bought a new stake in Cleveland-Cliffs in the 4th quarter valued at about $55,453,000. Norges Bank bought a new stake in shares of Cleveland-Cliffs during the 4th quarter worth approximately $45,381,000. Slate Path Capital LP lifted its holdings in shares of Cleveland-Cliffs by 35.4% during the 4th quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company's stock worth $152,355,000 after acquiring an additional 4,239,000 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Cleveland-Cliffs by 13.7% during the 3rd quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company's stock worth $330,665,000 after acquiring an additional 3,110,651 shares during the period. Finally, Vanguard Group Inc. lifted its holdings 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 acquiring an additional 2,556,332 shares during the period. Institutional investors own 67.68% of the company's stock.

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.