Cleveland-Cliffs (NYSE:CLF) Posts Earnings Results, Misses Estimates By $0.04 EPS

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

Cleveland-Cliffs Price Performance

Shares of CLF stock opened at $11.17 on Tuesday. The stock’s fifty day simple moving average is $10.24 and its 200 day simple moving average is $11.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of -11.51 and a beta of 1.96. Cleveland-Cliffs has a one year low of $8.99 and a one year high of $22.97.

Analysts Set New Price Targets

Several research analysts have commented on CLF shares. Citigroup dropped their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. B. Riley reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. Morgan Stanley dropped their price target on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Glj Research raised Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price target on the stock in a research report on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.