B. Riley Has Negative Forecast for CLF FY2026 Earnings

Cleveland-Cliffs Inc. (NYSE:CLF) – Analysts at B. Riley reduced their FY2026 earnings per share (EPS) estimates for Cleveland-Cliffs in a report released on Tuesday, November 12th. B. Riley analyst L. Pipes now forecasts that the mining company will earn $2.02 per share for the year, down from their prior forecast of $2.30. The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.37) per share.

Several other equities analysts have also commented on CLF. Morgan Stanley reduced their price target on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Seaport Res Ptn upgraded Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Citigroup reduced their price objective on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cleveland-Cliffs currently has an average rating of “Hold” and an average price target of $17.56.

Cleveland-Cliffs Stock Performance

Cleveland-Cliffs stock opened at $11.45 on Wednesday. The stock’s 50-day moving average is $12.61 and its 200-day moving average is $14.34. The company has a market cap of $5.66 billion, a price-to-earnings ratio of -11.80 and a beta of 1.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. Cleveland-Cliffs has a 12 month low of $10.21 and a 12 month high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the previous year, the business earned $0.54 EPS. The firm’s revenue was down 18.5% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its stake in shares of Cleveland-Cliffs by 13.7% in the 3rd quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock valued at $330,665,000 after purchasing an additional 3,110,651 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Cleveland-Cliffs by 54.7% in the second quarter. Dimensional Fund Advisors LP now owns 15,906,597 shares of the mining company’s stock valued at $244,794,000 after buying an additional 5,621,797 shares during the period. AQR Capital Management LLC raised its position in Cleveland-Cliffs by 49.9% during the second quarter. AQR Capital Management LLC now owns 6,093,632 shares of the mining company’s stock valued at $93,172,000 after purchasing an additional 2,027,757 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Cleveland-Cliffs by 23.6% during the second quarter. Bank of New York Mellon Corp now owns 5,597,662 shares of the mining company’s stock worth $86,148,000 after buying an additional 1,069,907 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Cleveland-Cliffs by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,751,153 shares of the mining company’s stock valued at $47,902,000 after purchasing an additional 121,389 shares during the period. 67.68% of the stock is currently owned by institutional investors.

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.