Equities Analysts Offer Predictions for Cleveland-Cliffs Inc’s Q4 2020 Earnings (NYSE:CLF)

Cleveland-Cliffs Inc (NYSE:CLF) – Analysts at B. Riley upped their Q4 2020 EPS estimates for Cleveland-Cliffs in a research report issued on Monday, October 26th. B. Riley analyst L. Pipes now forecasts that the mining company will earn $0.24 per share for the quarter, up from their previous forecast of $0.20. B. Riley has a “Buy” rating and a $13.00 price objective on the stock.

CLF has been the subject of several other research reports. ValuEngine upgraded shares of Cleveland-Cliffs from a “hold” rating to a “buy” rating in a research note on Tuesday, October 6th. Credit Suisse Group upped their price objective on shares of Cleveland-Cliffs from $4.75 to $5.25 and gave the stock a “neutral” rating in a research report on Wednesday, September 16th. Finally, Zacks Investment Research raised shares of Cleveland-Cliffs from a “sell” rating to a “hold” rating and set a $6.75 target price on the stock in a research report on Tuesday, September 22nd. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.29.

Shares of NYSE:CLF opened at $7.98 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 0.69 and a debt-to-equity ratio of 3.84. The stock has a market cap of $3.19 billion, a PE ratio of -28.50 and a beta of 2.29. The stock’s fifty day simple moving average is $7.05 and its two-hundred day simple moving average is $5.80. Cleveland-Cliffs has a 1-year low of $2.63 and a 1-year high of $9.04.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Friday, October 23rd. The mining company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.08. Cleveland-Cliffs had a negative return on equity of 2.69% and a negative net margin of 3.38%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the company earned $0.33 earnings per share. The company’s revenue for the quarter was up 196.3% on a year-over-year basis.

Several large investors have recently bought and sold shares of CLF. APG Asset Management N.V. bought a new position in Cleveland-Cliffs during the first quarter valued at $4,566,000. Advisor Group Holdings Inc. purchased a new stake in Cleveland-Cliffs in the 1st quarter worth about $659,000. Mercer Global Advisors Inc. ADV purchased a new stake in Cleveland-Cliffs in the 1st quarter worth about $41,000. Public Employees Retirement Association of Colorado raised its stake in Cleveland-Cliffs by 118.0% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 82,496 shares of the mining company’s stock valued at $326,000 after acquiring an additional 44,658 shares during the period. Finally, State of Tennessee Treasury Department lifted its holdings in Cleveland-Cliffs by 42.0% during the first quarter. State of Tennessee Treasury Department now owns 132,646 shares of the mining company’s stock valued at $524,000 after purchasing an additional 39,215 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors.

About Cleveland-Cliffs

Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific. 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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Earnings History and Estimates for Cleveland-Cliffs (NYSE:CLF)

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