Cleveland-Cliffs (CLF) Projected to Post Earnings on Wednesday

Cleveland-Cliffs (NYSE:CLF) is expected to be posting its Q1 2025 quarterly earnings results after the market closes on Wednesday, May 7th. Analysts expect Cleveland-Cliffs to post earnings of ($0.60) per share and revenue of $4.71 billion for the quarter.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Monday, February 24th. The mining company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.03). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.46 billion. On average, analysts expect Cleveland-Cliffs to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cleveland-Cliffs Stock Performance

NYSE:CLF opened at $8.67 on Tuesday. The stock has a 50-day moving average price of $8.56 and a 200 day moving average price of $10.27. The stock has a market capitalization of $4.29 billion, a P/E ratio of -8.94 and a beta of 2.03. Cleveland-Cliffs has a 12-month low of $6.17 and a 12-month high of $18.10. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53.

Insider Buying and Selling

In related news, EVP Keith Koci purchased 9,500 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $10.81 per share, with a total value of $102,695.00. Following the completion of the purchase, the executive vice president now owns 543,475 shares of the company’s stock, valued at approximately $5,874,964.75. The trade was a 1.78 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jane M. Cronin purchased 10,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $10.56 per share, with a total value of $105,600.00. Following the acquisition, the director now directly owns 24,522 shares of the company’s stock, valued at $258,952.32. This trade represents a 68.86 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 23,500 shares of company stock valued at $243,095. Insiders own 1.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Glj Research decreased their price target on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating on the stock in a research note on Thursday, February 27th. B. Riley reaffirmed a “buy” rating and issued a $17.00 price target (down previously from $20.00) on shares of Cleveland-Cliffs in a report on Wednesday, April 23rd. Morgan Stanley reduced their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group lowered their price objective 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. One analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cleveland-Cliffs presently has an average rating of “Moderate Buy” and an average price target of $15.49.

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.