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

Cleveland-Cliffs (NYSE:CLF) announced its earnings results on Monday. The mining company reported ($0.68) 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 Stock Performance

Shares of CLF stock traded down $0.19 on Monday, reaching $11.17. The stock had a trading volume of 14,142,523 shares, compared to its average volume of 15,999,896. Cleveland-Cliffs has a 12 month low of $8.99 and a 12 month 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. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of -11.51 and a beta of 1.96. The firm’s 50-day moving average is $10.22 and its two-hundred day moving average is $11.71.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. 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 note on Monday, February 3rd. The Goldman Sachs Group started 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 target price for the company in a report on Tuesday, January 7th. Citigroup lowered their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, B. Riley reissued a “buy” rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.68.

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.