FY2025 Earnings Estimate for Cleveland-Cliffs Inc. (NYSE:CLF) Issued By B. Riley

Cleveland-Cliffs Inc. (NYSE:CLF) – Equities researchers at B. Riley raised their FY2025 earnings per share estimates for shares of Cleveland-Cliffs in a research report issued on Tuesday, July 30th. B. Riley analyst L. Pipes now forecasts that the mining company will post earnings of $1.93 per share for the year, up from their prior estimate of $1.83. B. Riley currently has a “Buy” rating and a $23.00 price target on the stock. The consensus estimate for Cleveland-Cliffs’ current full-year earnings is $0.17 per share. B. Riley also issued estimates for Cleveland-Cliffs’ FY2026 earnings at $2.30 EPS.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, July 22nd. The mining company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Cleveland-Cliffs had a net margin of 0.21% and a return on equity of 4.94%. The company’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 earnings per share.

A number of other equities analysts have also weighed in on the company. Seaport Res Ptn raised Cleveland-Cliffs to a “hold” rating in a research note on Tuesday, June 11th. StockNews.com downgraded Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. cut shares of Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $17.00 in a research report on Tuesday, June 11th. Wolfe Research restated an “underperform” rating and set a $18.00 target price on shares of Cleveland-Cliffs in a research report on Tuesday, April 9th. Finally, Jefferies Financial Group began coverage on shares of Cleveland-Cliffs in a report on Monday, May 20th. They issued a “buy” rating and a $22.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.44.

Cleveland-Cliffs Trading Up 2.6 %

Shares of Cleveland-Cliffs stock opened at $15.36 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.60 and a current ratio of 1.87. The company has a fifty day moving average of $15.66 and a 200 day moving average of $18.32. The company has a market capitalization of $7.19 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.98 and a beta of 2.03. Cleveland-Cliffs has a fifty-two week low of $13.84 and a fifty-two week high of $22.97.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Raymond James & Associates grew its position in Cleveland-Cliffs by 13.0% in the 4th quarter. Raymond James & Associates now owns 626,207 shares of the mining company’s stock valued at $12,787,000 after acquiring an additional 72,185 shares during the last quarter. KG&L Capital Management LLC bought a new position in shares of Cleveland-Cliffs in the fourth quarter worth about $227,000. Clear Creek Financial Management LLC purchased a new position in Cleveland-Cliffs in the 4th quarter worth about $270,000. Private Trust Co. NA lifted its holdings in Cleveland-Cliffs by 2.0% during the 4th quarter. Private Trust Co. NA now owns 43,866 shares of the mining company’s stock valued at $896,000 after buying an additional 870 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in Cleveland-Cliffs by 1,627.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,431,769 shares of the mining company’s stock valued at $29,237,000 after buying an additional 1,348,893 shares during the period. Institutional investors own 67.68% of the company’s stock.

Insider Activity at Cleveland-Cliffs

In related news, Director Ben Oren bought 6,700 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was purchased at an average price of $14.99 per share, for a total transaction of $100,433.00. Following the acquisition, the director now owns 14,167 shares in the company, valued at $212,363.33. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Ben Oren bought 6,700 shares of Cleveland-Cliffs stock in a transaction dated Wednesday, June 12th. The shares were acquired at an average price of $14.99 per share, with a total value of $100,433.00. Following the completion of the purchase, the director now owns 14,167 shares in the company, valued at approximately $212,363.33. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Celso L. Goncalves, Jr. bought 7,250 shares of the stock in a transaction dated Wednesday, June 12th. The stock was purchased at an average price of $14.98 per share, with a total value of $108,605.00. Following the acquisition, the chief financial officer now directly owns 314,362 shares in the company, valued at approximately $4,709,142.76. The disclosure for this purchase can be found here. 1.76% of the stock is owned by insiders.

Cleveland-Cliffs announced that its board has authorized a stock buyback plan on Monday, April 22nd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the mining company to buy up to 17.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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.