Cleveland-Cliffs (NYSE:CLF) Announces Earnings Results

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

Cleveland-Cliffs Stock Down 1.6 %

Shares of Cleveland-Cliffs stock opened at $11.17 on Tuesday. Cleveland-Cliffs has a 1 year low of $8.99 and a 1 year high of $22.97. The business has a 50-day moving average of $10.24 and a two-hundred day moving average of $11.69. The company has a market capitalization of $5.51 billion, a P/E ratio of -11.51 and a beta of 1.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55.

Analysts Set New Price Targets

CLF has been the subject of a number of recent research reports. Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a research report on Tuesday, January 7th. Morgan Stanley dropped their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Citigroup dropped their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group assumed coverage on Cleveland-Cliffs in a report on Monday, December 2nd. They issued a “buy” rating and a $16.00 price objective for the company. Finally, B. Riley reiterated a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.68.

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.