Key Points
- Director Edilson Camara purchased 7,400 Cleveland-Cliffs shares at an average price of $13.49, investing $99,826 and increasing his ownership by 12.91%.
- Cleveland-Cliffs reported quarterly earnings of $0.28 per share, beating estimates of $0.24, while revenue rose 18.5% year over year to $5.61 billion.
- Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and a $13.82 target price; institutional investors own approximately 67.68% of the company.
Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) Director Edilson Camara purchased 7,400 shares of the firm's stock in a transaction on Thursday, October 22nd. The stock was bought at an average price of $13.49 per share, for a total transaction of $99,826.00. Following the purchase, the director owned 64,717 shares in the company, valued at approximately $873,032.33. This represents a 12.91% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Cleveland-Cliffs Stock Up 6.6%
CLF opened at $13.91 on Friday. The firm has a 50-day simple moving average of $12.17 and a two-hundred day simple moving average of $11.42. Cleveland-Cliffs Inc. has a 52 week low of $7.73 and a 52 week high of $15.35. The company has a market capitalization of $7.94 billion, a PE ratio of -16.37, a price-to-earnings-growth ratio of 4.97 and a beta of 2.09. The company has a quick ratio of 0.63, a current ratio of 1.87 and a debt-to-equity ratio of 1.28.
Cleveland-Cliffs (NYSE:CLF - Get Free Report) last issued its quarterly earnings data on Monday, October 19th. The mining company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.04. Cleveland-Cliffs had a negative return on equity of 6.83% and a negative net margin of 2.36%. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.69 billion. During the same quarter last year, the business posted ($0.51) earnings per share. The business's quarterly revenue was up 18.5% compared to the same quarter last year. Analysts forecast that Cleveland-Cliffs Inc. will post 0.12 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently commented on CLF. Glj Research increased their price target on Cleveland-Cliffs from $15.60 to $17.48 and gave the company a "buy" rating in a research note on Monday, September 21st. JPMorgan Chase & Co. lifted their price objective on Cleveland-Cliffs from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Thursday. Citigroup reaffirmed a "positive" rating on shares of Cleveland-Cliffs in a report on Friday, July 24th. UBS Group set a $13.00 price objective on Cleveland-Cliffs in a report on Monday, September 7th. Finally, Bank of America lowered their target price on Cleveland-Cliffs from $14.00 to $11.50 and set a "neutral" rating for the company in a research report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $13.82.
View Our Latest Research Report on Cleveland-Cliffs
Institutional Investors Weigh In On Cleveland-Cliffs
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Cleveland-Cliffs in the 2nd quarter worth approximately $522,766,000. Dimensional Fund Advisors LP raised its holdings in Cleveland-Cliffs by 6.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 15,489,207 shares of the mining company's stock valued at $130,873,000 after buying an additional 925,031 shares during the period. PointState Capital LP purchased a new stake in Cleveland-Cliffs during the 2nd quarter valued at $61,805,000. Avala Global LP purchased a new stake in Cleveland-Cliffs during the 2nd quarter valued at $58,325,000. Finally, Assenagon Asset Management S.A. raised its holdings in Cleveland-Cliffs by 208.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 6,021,829 shares of the mining company's stock valued at $56,545,000 after buying an additional 4,067,994 shares during the period. 67.68% of the stock is currently owned by hedge funds and other institutional investors.
More Cleveland-Cliffs News
Here are the key news stories impacting Cleveland-Cliffs this week:
- Positive Sentiment: Cleveland-Cliffs’ quarterly earnings exceeded Wall Street expectations, while analysts cited steadier automotive steel demand as a supportive factor for the company’s outlook. Cleveland-Cliffs Surges After Earnings Beat as Auto Steel Demand Steadies
- Positive Sentiment: The stock is leading a broader rally among U.S. steelmakers, suggesting improving sentiment toward domestic steel producers even as a global steel fund declined. Cleveland-Cliffs Surges While Steel Fund Slips
- Positive Sentiment: A Cleveland-Cliffs director purchased 7,400 shares for nearly $100,000, increasing his direct ownership by about 13%. The insider buying may signal confidence in the company’s valuation and prospects. SEC Insider Transaction Filing
- Positive Sentiment: The consensus price target reportedly increased 10.73% to $14.38, reflecting somewhat improved expectations following the recent results. Cleveland-Cliffs Consensus Price Target Increased
- Neutral Sentiment: Analyst views remain mixed. JPMorgan raised its target to $13 but maintained a neutral rating, indicating limited upside at recent levels, while other analysts appear more constructive. JPMorgan Cleveland-Cliffs Rating
- Negative Sentiment: Canada has given Cleveland-Cliffs 15 days to reverse planned layoffs at its Stelco Ontario facility or potentially face sanctions, including a forced divestiture. The dispute creates regulatory, labor and operational uncertainty. Canada Gives Cleveland-Cliffs 15 Days to Reverse Planned Job Cuts
Cleveland-Cliffs Company Profile
(
Get Free Report)
Cleveland-Cliffs Inc is an integrated North American steel producer headquartered in Cleveland, Ohio. The company operates across the steelmaking value chain, from mining and processing iron ore to producing and distributing finished steel products. Its operations include iron ore mines and pelletizing facilities, steel mills, finishing plants, and related manufacturing and distribution assets.
The company produces carbon steel, stainless steel, electrical steel, and other specialty products, including hot-rolled, cold-rolled, and galvanized sheet steel.
Further Reading
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