Cleveland-Cliffs (NYSE:CLF) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Cleveland-Cliffs (NYSE:CLF) posted its earnings results on Monday. The mining company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.04), Zacks reports. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%.

Cleveland-Cliffs Trading Down 1.6 %

Shares of CLF stock traded down $0.19 during trading hours on Monday, reaching $11.17. The company had a trading volume of 14,142,523 shares, compared to its average volume of 15,999,896. Cleveland-Cliffs has a 1-year low of $8.99 and a 1-year 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. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of -11.51 and a beta of 1.96. The company has a 50 day moving average of $10.22 and a 200 day moving average of $11.71.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CLF shares. B. Riley reiterated a “buy” rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. 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 target on the stock. StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Glj Research raised shares of 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, Citigroup decreased their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Three 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 given a strong buy rating to the stock. According to data from MarketBeat, Cleveland-Cliffs has a consensus rating of “Hold” and a consensus price target of $16.68.

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.