Brokers Set Expectations for CLF FY2026 Earnings

Cleveland-Cliffs Inc. (NYSE:CLF) – Equities researchers at KeyCorp issued their FY2026 earnings per share estimates for Cleveland-Cliffs in a research report issued on Tuesday, June 23rd. KeyCorp analyst S. Mckinney anticipates that the mining company will earn ($0.33) per share for the year. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.25) per share.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Cleveland-Cliffs from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 10th. Barclays assumed coverage on shares of Cleveland-Cliffs in a research note on Thursday, May 21st. They issued an “underweight” rating and a $9.00 target price for the company. Argus upgraded Cleveland-Cliffs to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Cleveland-Cliffs in a research report on Friday, April 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $12.50 price target (up from $12.00) on shares of Cleveland-Cliffs in a report on Monday. Nine research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $12.90.

Cleveland-Cliffs Trading Up 1.6%

Shares of Cleveland-Cliffs stock opened at $10.74 on Friday. Cleveland-Cliffs has a 12-month low of $7.01 and a 12-month high of $16.70. The stock has a market capitalization of $6.13 billion, a P/E ratio of -4.59 and a beta of 2.09. The company has a 50-day simple moving average of $11.52 and a 200 day simple moving average of $11.53. The company has a quick ratio of 0.64, a current ratio of 2.02 and a debt-to-equity ratio of 1.29.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Monday, April 20th. The mining company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.04. Cleveland-Cliffs had a negative return on equity of 15.48% and a negative net margin of 6.42%.The company had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same period last year, the business earned ($0.92) earnings per share. The business’s revenue was up 6.3% on a year-over-year basis.

Insider Activity

In other news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $13.41, for a total transaction of $2,873,870.28. Following the sale, the executive vice president directly owned 184,542 shares of the company’s stock, valued at $2,474,708.22. This represents a 53.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CLF. Focus Partners Wealth acquired a new stake in shares of Cleveland-Cliffs in the 1st quarter valued at $339,000. Prudential Financial Inc. boosted its holdings in Cleveland-Cliffs by 27.4% in the second quarter. Prudential Financial Inc. now owns 49,955 shares of the mining company’s stock valued at $380,000 after acquiring an additional 10,733 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Cleveland-Cliffs by 4.4% in the second quarter. Russell Investments Group Ltd. now owns 143,264 shares of the mining company’s stock valued at $1,088,000 after acquiring an additional 6,073 shares during the last quarter. CW Advisors LLC increased its position in Cleveland-Cliffs by 47.4% in the second quarter. CW Advisors LLC now owns 22,167 shares of the mining company’s stock worth $168,000 after purchasing an additional 7,127 shares during the period. Finally, Invesco Ltd. increased its position in Cleveland-Cliffs by 20.3% in the second quarter. Invesco Ltd. now owns 3,081,241 shares of the mining company’s stock worth $23,417,000 after purchasing an additional 520,120 shares during the period. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.