Zacks Research Cuts Earnings Estimates for Cleveland-Cliffs

Cleveland-Cliffs Inc. (NYSE:CLF) – Zacks Research decreased their Q4 2025 EPS estimates for shares of Cleveland-Cliffs in a research note issued to investors on Thursday, October 30th. Zacks Research analyst Team now forecasts that the mining company will earn ($0.47) per share for the quarter, down from their previous estimate of ($0.34). The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.79) per share. Zacks Research also issued estimates for Cleveland-Cliffs’ Q1 2026 earnings at ($0.16) EPS, Q2 2026 earnings at ($0.01) EPS, Q3 2026 earnings at ($0.10) EPS, Q4 2026 earnings at ($0.35) EPS, FY2026 earnings at ($0.62) EPS, Q1 2027 earnings at $0.08 EPS, Q2 2027 earnings at $0.12 EPS, Q3 2027 earnings at $0.10 EPS and FY2027 earnings at $0.38 EPS.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Monday, October 20th. The mining company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.03. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.90 billion. Cleveland-Cliffs had a negative net margin of 9.00% and a negative return on equity of 20.02%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.33) EPS.

Several other research analysts have also commented on the stock. Wells Fargo & Company restated an “underweight” rating and set a $11.00 price target on shares of Cleveland-Cliffs in a research note on Tuesday, October 21st. Morgan Stanley upped their price objective on shares of Cleveland-Cliffs from $8.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Glj Research reissued a “sell” rating and set a $5.75 target price on shares of Cleveland-Cliffs in a research report on Tuesday, October 21st. JPMorgan Chase & Co. raised their price objective on Cleveland-Cliffs from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Finally, Bank of America raised their price objective on Cleveland-Cliffs from $12.50 to $14.50 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Cleveland-Cliffs presently has a consensus rating of “Hold” and an average price target of $12.88.

Cleveland-Cliffs Stock Performance

Shares of CLF opened at $11.89 on Monday. The company’s fifty day moving average is $12.33 and its 200-day moving average is $9.85. Cleveland-Cliffs has a 12 month low of $5.63 and a 12 month high of $16.70. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of -3.50 and a beta of 1.96. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.41.

Institutional Investors Weigh In On Cleveland-Cliffs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Twelve Points Wealth Management LLC lifted its stake in Cleveland-Cliffs by 51.7% in the first quarter. Twelve Points Wealth Management LLC now owns 225,499 shares of the mining company’s stock valued at $1,854,000 after buying an additional 76,827 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Cleveland-Cliffs by 231.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,561,774 shares of the mining company’s stock valued at $12,838,000 after buying an additional 1,090,237 shares in the last quarter. Nuveen LLC bought a new position in Cleveland-Cliffs in the first quarter valued at approximately $9,416,000. Algert Global LLC bought a new position in Cleveland-Cliffs in the first quarter valued at approximately $442,000. Finally, Northern Trust Corp lifted its stake in Cleveland-Cliffs by 1.4% in the first quarter. Northern Trust Corp now owns 4,014,436 shares of the mining company’s stock valued at $32,999,000 after buying an additional 54,244 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

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.