Cleveland-Cliffs (NYSE:CLF) Posts Earnings Results

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

Cleveland-Cliffs Price Performance

Cleveland-Cliffs stock traded down $0.19 during mid-day trading on Monday, hitting $11.17. 14,096,782 shares of the company were exchanged, compared to its average volume of 15,987,493. The company has a market capitalization of $5.51 billion, a PE ratio of -11.51 and a beta of 1.96. The business has a fifty day moving average of $10.22 and a 200 day moving average of $11.71. Cleveland-Cliffs has a 1-year low of $8.99 and a 1-year high of $22.97. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

Analyst Ratings Changes

CLF has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group began coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They issued a “buy” rating and a $16.00 target price on the stock. B. Riley reiterated a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Citigroup decreased their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Finally, StockNews.com lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently 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.