Seaport Res Ptn Issues Pessimistic Estimate for CLF Earnings

Cleveland-Cliffs Inc. (NYSE:CLF) – Equities research analysts at Seaport Res Ptn decreased their FY2026 earnings estimates for Cleveland-Cliffs in a research note issued on Tuesday, July 29th. Seaport Res Ptn analyst M. Englert now forecasts that the mining company will earn $0.27 per share for the year, down from their previous forecast of $0.30. The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.79) per share.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, July 21st. The mining company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.18. The firm had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $4.90 billion. Cleveland-Cliffs had a negative net margin of 9.03% and a negative return on equity of 17.97%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 earnings per share.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group dropped their target price on shares of Cleveland-Cliffs from $13.00 to $11.25 and set a “buy” rating for the company in a report on Monday, May 12th. JPMorgan Chase & Co. increased their target price on shares of Cleveland-Cliffs from $7.50 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. KeyCorp upgraded shares of Cleveland-Cliffs from a “sector weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Tuesday, July 22nd. Glj Research lowered shares of Cleveland-Cliffs from a “strong-buy” rating to a “strong sell” rating and set a $3.91 price objective for the company. in a report on Wednesday, May 28th. Finally, Citigroup raised their price objective on shares of Cleveland-Cliffs from $7.50 to $11.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.09.

Cleveland-Cliffs Trading Down 4.4%

Shares of Cleveland-Cliffs stock opened at $10.06 on Friday. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of -2.95 and a beta of 1.98. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.28. Cleveland-Cliffs has a 12-month low of $5.63 and a 12-month high of $14.38. The firm’s 50-day moving average price is $8.42 and its two-hundred day moving average price is $8.85.

Insiders Place Their Bets

In other Cleveland-Cliffs news, EVP James D. Graham sold 120,000 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $6.85, for a total transaction of $822,000.00. Following the transaction, the executive vice president directly owned 492,249 shares in the company, valued at approximately $3,371,905.65. This trade represents a 19.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.71% of the company’s stock.

Institutional Investors Weigh In On Cleveland-Cliffs

A number of hedge funds have recently made changes to their positions in CLF. Norges Bank bought a new stake in shares of Cleveland-Cliffs during the 4th quarter worth $45,381,000. Pictet Asset Management Holding SA raised its stake in Cleveland-Cliffs by 12.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 100,553 shares of the mining company’s stock valued at $945,000 after acquiring an additional 10,773 shares during the period. Franklin Resources Inc. raised its stake in Cleveland-Cliffs by 57.8% in the 4th quarter. Franklin Resources Inc. now owns 414,692 shares of the mining company’s stock valued at $3,898,000 after acquiring an additional 151,921 shares during the period. Geode Capital Management LLC raised its stake in Cleveland-Cliffs by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 8,466,747 shares of the mining company’s stock valued at $79,611,000 after acquiring an additional 264,078 shares during the period. Finally, Pinpoint Asset Management Ltd bought a new stake in Cleveland-Cliffs in the 4th quarter valued at about $25,000. 67.68% of the stock is currently owned by institutional investors.

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.