KeyCorp Cuts Earnings Estimates for Cleveland-Cliffs

Cleveland-Cliffs Inc. (NYSE:CLF) – Equities researchers at KeyCorp dropped their FY2025 earnings per share (EPS) estimates for Cleveland-Cliffs in a research report issued to clients and investors on Monday, February 10th. KeyCorp analyst P. Gibbs now anticipates that the mining company will post earnings of ($0.71) per share for the year, down from their prior forecast of ($0.60). The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.70) per share.

A number of other research analysts also recently commented on the stock. Citigroup dropped their price objective on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. The Goldman Sachs Group assumed coverage on shares of Cleveland-Cliffs in a report on Monday, December 2nd. They issued a “buy” rating and a $16.00 price target on the stock. Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley reduced their target price on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.68.

Cleveland-Cliffs Stock Down 6.6 %

NYSE CLF opened at $10.55 on Thursday. The business’s 50-day moving average price is $10.21 and its 200 day moving average price is $11.85. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs has a twelve month low of $8.99 and a twelve month high of $22.97.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning raised its holdings in shares of Cleveland-Cliffs by 2.6% during the 3rd quarter. Creative Planning now owns 121,908 shares of the mining company’s stock valued at $1,557,000 after buying an additional 3,147 shares during the period. NBC Securities Inc. raised its stake in shares of Cleveland-Cliffs by 62.8% during the third quarter. NBC Securities Inc. now owns 58,118 shares of the mining company’s stock valued at $742,000 after purchasing an additional 22,423 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Cleveland-Cliffs by 103.3% during the third quarter. Vontobel Holding Ltd. now owns 24,892 shares of the mining company’s stock worth $318,000 after purchasing an additional 12,649 shares in the last quarter. Paragon Capital Management Inc. purchased a new position in shares of Cleveland-Cliffs in the third quarter valued at $1,472,000. Finally, Twelve Points Wealth Management LLC boosted its position in Cleveland-Cliffs by 58.5% in the 3rd quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company’s stock valued at $1,708,000 after buying an additional 49,359 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

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.