What is KeyCorp’s Estimate for CLF FY2025 Earnings?

Cleveland-Cliffs Inc. (NYSE:CLF) – Research analysts at KeyCorp issued their FY2025 earnings estimates for Cleveland-Cliffs in a report issued on Tuesday, January 21st. KeyCorp analyst P. Gibbs expects that the mining company will post earnings per share of ($0.60) for the year. The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.67) per share.

A number of other equities research analysts have also issued reports on CLF. Citigroup dropped their target price 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. The Goldman Sachs Group began coverage on shares of Cleveland-Cliffs in a report on Monday, December 2nd. They issued a “buy” rating and a $16.00 price objective on the stock. Glj Research upgraded shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price target on the stock in a research note on Tuesday, January 7th. Finally, StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cleveland-Cliffs has an average rating of “Hold” and a consensus target price of $16.93.

Cleveland-Cliffs Stock Performance

CLF opened at $9.72 on Thursday. 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 business’s 50-day moving average price is $10.70 and its two-hundred day moving average price is $12.39. Cleveland-Cliffs has a 1 year low of $8.99 and a 1 year high of $22.97.

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

Institutional Investors Weigh In On Cleveland-Cliffs

Several hedge funds have recently added to or reduced their stakes in CLF. Benjamin F. Edwards & Company Inc. raised its position in shares of Cleveland-Cliffs by 7.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 13,066 shares of the mining company’s stock valued at $201,000 after purchasing an additional 949 shares during the period. EverSource Wealth Advisors LLC lifted its position in Cleveland-Cliffs by 144.5% during the second quarter. EverSource Wealth Advisors LLC now owns 4,608 shares of the mining company’s stock worth $71,000 after acquiring an additional 2,723 shares during the last quarter. Xponance Inc. lifted its position in Cleveland-Cliffs by 7.3% during the second quarter. Xponance Inc. now owns 96,588 shares of the mining company’s stock worth $1,486,000 after acquiring an additional 6,554 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Cleveland-Cliffs by 169.5% during the second quarter. Marshall Wace LLP now owns 1,166,968 shares of the mining company’s stock worth $17,960,000 after acquiring an additional 733,902 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Cleveland-Cliffs by 58.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 95,510 shares of the mining company’s stock valued at $1,470,000 after purchasing an additional 35,256 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

About Cleveland-Cliffs

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.