Cleveland-Cliffs (NYSE:CLF) announced its quarterly earnings data on Thursday. The mining company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.20, MarketWatch Earnings reports. Cleveland-Cliffs had a negative net margin of 0.86% and a positive return on equity of 6.53%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion.
Cleveland-Cliffs stock traded down $0.49 during midday trading on Friday, hitting $5.18. The company’s stock had a trading volume of 14,832,507 shares, compared to its average volume of 9,862,696. Cleveland-Cliffs has a 1-year low of $2.63 and a 1-year high of $11.28. The company has a debt-to-equity ratio of 3.98, a current ratio of 2.55 and a quick ratio of 0.67. The company has a 50-day moving average price of $5.69 and a two-hundred day moving average price of $5.51. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 74.00 and a beta of 1.95.
CLF has been the subject of a number of analyst reports. ValuEngine raised shares of Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Credit Suisse Group started coverage on shares of Cleveland-Cliffs in a research report on Wednesday, April 15th. They issued a “neutral” rating for the company. Finally, B. Riley reaffirmed a “buy” rating and set a $10.00 target price on shares of Cleveland-Cliffs in a report on Tuesday, April 7th. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.83.
Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.
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