Q4 EPS Estimates for Cleveland-Cliffs Lowered by B. Riley

Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) - Equities research analysts at B. Riley dropped their Q4 2024 earnings per share estimates for shares of Cleveland-Cliffs in a research note issued on Tuesday, February 4th. B. Riley analyst N. Giles now forecasts that the mining company will post earnings of ($0.66) per share for the quarter, down from their previous forecast of ($0.60). The consensus estimate for Cleveland-Cliffs' current full-year earnings is ($0.70) per share. B. Riley also issued estimates for Cleveland-Cliffs' FY2025 earnings at ($0.20) EPS.

A number of other research firms also recently commented on CLF. Morgan Stanley decreased their price objective on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. Glj Research raised shares of Cleveland-Cliffs from a "sell" rating to a "buy" rating and set a $14.27 target price on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group began coverage on Cleveland-Cliffs in a research note on Monday, December 2nd. They issued a "buy" rating and a $16.00 target price for the company. Citigroup dropped their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, December 19th. Finally, StockNews.com lowered Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Three 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $16.68.

Cleveland-Cliffs Stock Performance

NYSE:CLF traded up $1.79 during trading hours on Thursday, reaching $11.83. 61,601,499 shares of the stock were exchanged, compared to its average volume of 15,170,410. Cleveland-Cliffs has a 52 week low of $8.99 and a 52 week high of $22.97. 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 stock has a market capitalization of $5.84 billion, a P/E ratio of -12.19 and a beta of 1.96. The firm has a 50 day simple moving average of $10.28 and a 200-day simple moving average of $11.89.

Institutional Investors Weigh In On Cleveland-Cliffs

Institutional investors have recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC raised its stake in shares of Cleveland-Cliffs by 299.8% in the 3rd 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. Darwin Wealth Management LLC acquired a new position in Cleveland-Cliffs during the third quarter worth about $34,000. Truvestments Capital LLC bought a new stake in Cleveland-Cliffs in the third quarter worth about $34,000. Blue Trust Inc. lifted its holdings in Cleveland-Cliffs by 231.9% in the 3rd quarter. Blue Trust Inc. now owns 3,634 shares of the mining company's stock valued at $46,000 after acquiring an additional 2,539 shares during the last quarter. Finally, Byrne Asset Management LLC boosted its position in shares of Cleveland-Cliffs by 130.0% during the 4th quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company's stock valued at $43,000 after purchasing an additional 2,600 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

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.