Cleveland-Cliffs Inc (NYSE:CLF) – Analysts at Jefferies Group raised their FY2017 earnings per share (EPS) estimates for shares of Cleveland-Cliffs in a research note issued on Tuesday. Jefferies Group analyst S. Rosenfeld now expects that the mining company will post earnings per share of $1.33 for the year, up from their previous forecast of $0.47. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Cleveland-Cliffs’ FY2018 earnings at $0.99 EPS.
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Tuesday. B. Riley reiterated a “buy” rating and set a $11.00 price target (up previously from $10.00) on shares of Cleveland-Cliffs in a research report on Friday, January 5th. ValuEngine cut shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. KeyCorp reiterated a “hold” rating on shares of Cleveland-Cliffs in a research report on Friday, November 24th. Finally, JPMorgan Chase & Co. lowered shares of Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $6.90 to $10.00 in a research note on Monday, October 23rd. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $8.82.
Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Friday, October 20th. The mining company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.30 by $0.06. Cleveland-Cliffs had a net margin of 5.48% and a negative return on equity of 29.06%. The company had revenue of $698.00 million during the quarter, compared to analysts’ expectations of $669.25 million. During the same quarter in the previous year, the company earned ($0.11) EPS. Cleveland-Cliffs’s revenue was up 26.2% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new position in Cleveland-Cliffs during the 3rd quarter worth approximately $1,195,000. Cetera Investment Advisers bought a new position in Cleveland-Cliffs in the second quarter valued at approximately $1,664,000. Advisory Services Network LLC lifted its stake in Cleveland-Cliffs by 743.6% in the second quarter. Advisory Services Network LLC now owns 26,887 shares of the mining company’s stock valued at $186,000 after buying an additional 23,700 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Cleveland-Cliffs by 34.1% in the second quarter. Public Employees Retirement System of Ohio now owns 224,740 shares of the mining company’s stock valued at $1,555,000 after buying an additional 57,094 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in Cleveland-Cliffs by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 26,167 shares of the mining company’s stock valued at $181,000 after buying an additional 2,016 shares in the last quarter. 56.74% of the stock is currently owned by institutional investors and hedge funds.
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Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.
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