FY2025 EPS Estimate for Cleveland-Cliffs Reduced by Analyst

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

Several other research firms have also weighed in on CLF. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. The Goldman Sachs Group began coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 price objective for the company. Citigroup cut their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley dropped their price target on 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. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.68.

Cleveland-Cliffs Stock Down 6.6 %

CLF stock opened at $10.55 on Thursday. The stock’s 50 day simple moving average is $10.21 and its 200 day simple moving average is $11.85. Cleveland-Cliffs has a 12-month low of $8.99 and a 12-month high of $22.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55.

Institutional Trading of Cleveland-Cliffs

Large investors have recently added to or reduced their stakes in the business. Strengthening Families & Communities LLC grew its stake in shares of Cleveland-Cliffs by 299.8% in the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after purchasing an additional 1,490 shares in the last quarter. Pinpoint Asset Management Ltd acquired a new stake in Cleveland-Cliffs in the fourth quarter worth about $25,000. Darwin Wealth Management LLC acquired a new stake in Cleveland-Cliffs in the third quarter worth about $34,000. Truvestments Capital LLC bought a new position in Cleveland-Cliffs in the 3rd quarter valued at about $34,000. Finally, Byrne Asset Management LLC increased its stake in 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 buying an additional 2,600 shares during the period. 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.