Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) - Zacks Research upped their Q2 2026 earnings per share estimates for shares of Cleveland-Cliffs in a report released on Thursday, March 20th. Zacks Research analyst A. Barman now expects that the mining company will post earnings per share of $0.16 for the quarter, up from their previous 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.
A number of other equities research analysts also recently issued reports on the company. Glj Research cut their price target on Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group cut their price target on Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. B. Riley restated a "buy" rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. Citigroup lowered their price objective 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, Morgan Stanley lowered their price objective 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Cleveland-Cliffs has a consensus rating of "Hold" and an average target price of $16.43.
Get Our Latest Analysis on Cleveland-Cliffs
Cleveland-Cliffs stock opened at $9.45 on Monday. The business has a 50-day simple moving average of $10.38 and a two-hundred day simple moving average of $11.29. The company has a market cap of $4.67 billion, a P/E ratio of -9.74 and a beta of 1.94. Cleveland-Cliffs has a 52-week low of $8.50 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.
Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.03). The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.46 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%.
A number of hedge funds and other institutional investors have recently modified their holdings of CLF. Fairfax Financial Holdings Ltd. Can bought a new position in shares of Cleveland-Cliffs during the 4th quarter valued at approximately $55,453,000. Norges Bank bought a new position in shares of Cleveland-Cliffs during the 4th quarter valued at approximately $45,381,000. Slate Path Capital LP boosted its position 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 valued at $152,355,000 after acquiring an additional 4,239,000 shares during the last quarter. Vanguard Group Inc. boosted its position 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 valued at $458,267,000 after acquiring an additional 2,556,332 shares during the last quarter. Finally, Barclays PLC lifted its position in Cleveland-Cliffs by 232.4% in the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company's stock worth $39,757,000 after buying an additional 2,176,837 shares during the last quarter. 67.68% of the stock is currently owned by institutional investors.
In other Cleveland-Cliffs news, Director John T. Baldwin purchased 4,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average cost of $8.70 per share, with a total value of $34,800.00. Following the acquisition, the director now owns 133,227 shares in the company, valued at approximately $1,159,074.90. This trade represents a 3.10 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Keith Koci purchased 9,500 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $10.81 per share, for a total transaction of $102,695.00. Following the completion of the acquisition, the executive vice president now owns 543,475 shares in the company, valued at $5,874,964.75. This represents a 1.78 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 23,500 shares of company stock valued at $243,095. Corporate insiders own 1.76% of the company's stock.
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.
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