Q2 EPS Forecast for Cleveland-Cliffs Increased by Analyst

Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) - Investment analysts at Zacks Research lifted their Q2 2026 earnings per share estimates for Cleveland-Cliffs in a report released on Thursday, March 20th. Zacks Research analyst A. Barman now anticipates that the mining company will earn $0.16 per share for the quarter, up from their prior estimate of $0.14. The consensus estimate for Cleveland-Cliffs' current full-year earnings is ($0.79) per share. Zacks Research also issued estimates for Cleveland-Cliffs' Q4 2026 earnings at $0.04 EPS and FY2026 earnings at $0.33 EPS.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its earnings results on Monday, February 24th. The mining company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.03). The business had revenue of $4.33 billion for the quarter, compared to analysts' expectations of $4.46 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%.

CLF has been the subject of several other reports. Morgan Stanley lowered their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. Citigroup lowered their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating for the company in a report on Thursday, December 19th. B. Riley restated a "buy" rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. Glj Research decreased their price objective on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, The Goldman Sachs Group dropped their target price on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Cleveland-Cliffs presently has an average rating of "Hold" and an average target price of $16.43.

Cleveland-Cliffs Stock Down 8.6 %

NYSE CLF traded down $0.80 during trading hours on Monday, reaching $8.53. 31,119,879 shares of the company traded hands, compared to its average volume of 13,195,003. The stock has a market capitalization of $4.22 billion, a PE ratio of -8.79 and a beta of 1.94. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs has a 12 month low of $8.49 and a 12 month high of $22.97. The company has a 50 day moving average of $10.30 and a two-hundred day moving average of $11.23.

Institutional Trading of Cleveland-Cliffs

A number of institutional investors have recently made changes to their positions in the stock. Fairfax Financial Holdings Ltd. Can bought a new stake in Cleveland-Cliffs during the fourth quarter worth approximately $55,453,000. Norges Bank bought a new stake in shares of Cleveland-Cliffs in the 4th quarter worth $45,381,000. Slate Path Capital LP raised its stake in shares of Cleveland-Cliffs by 35.4% in the 4th quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company's stock worth $152,355,000 after buying an additional 4,239,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cleveland-Cliffs by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company's stock valued at $458,267,000 after buying an additional 2,556,332 shares during the period. Finally, Barclays PLC boosted its stake in Cleveland-Cliffs by 232.4% during the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company's stock valued at $39,757,000 after buying an additional 2,176,837 shares in the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cleveland-Cliffs

In related news, Director John T. Baldwin acquired 4,000 shares of Cleveland-Cliffs stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $8.70 per share, with a total value of $34,800.00. Following the completion of the acquisition, the director now directly owns 133,227 shares of the company's stock, valued at $1,159,074.90. This trade represents a 3.10 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Keith Koci bought 9,500 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $10.81 per share, for a total transaction of $102,695.00. Following the purchase, the executive vice president now owns 543,475 shares in the company, valued at $5,874,964.75. This trade represents a 1.78 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 23,500 shares of company stock valued at $243,095 in the last ninety days. Company insiders own 1.76% 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.