Cleveland-Cliffs Inc. (NYSE:CLF) – Analysts at Jefferies Group increased their FY2019 earnings estimates for shares of Cleveland-Cliffs in a note issued to investors on Friday, April 6th. Jefferies Group analyst S. Rosenfeld now forecasts that the mining company will post earnings of $1.12 per share for the year, up from their previous forecast of $0.98.
Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Thursday, January 25th. The mining company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.11. The business had revenue of $600.90 million during the quarter, compared to the consensus estimate of $612.50 million. Cleveland-Cliffs had a net margin of 16.09% and a negative return on equity of 35.81%. The firm’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS.
CLF stock opened at $6.86 on Monday. The firm has a market cap of $2,040.17, a PE ratio of 13.72 and a beta of 1.62. Cleveland-Cliffs has a 52-week low of $5.56 and a 52-week high of $9.15. The company has a quick ratio of 2.80, a current ratio of 3.42 and a debt-to-equity ratio of -5.19.
Several institutional investors and hedge funds have recently bought and sold shares of CLF. Millennium Management LLC acquired a new stake in shares of Cleveland-Cliffs during the fourth quarter worth $7,336,000. BlackRock Inc. increased its position in shares of Cleveland-Cliffs by 4.0% during the fourth quarter. BlackRock Inc. now owns 20,192,937 shares of the mining company’s stock worth $145,592,000 after buying an additional 774,210 shares during the period. Luminus Management LLC increased its position in shares of Cleveland-Cliffs by 23.9% during the fourth quarter. Luminus Management LLC now owns 3,754,600 shares of the mining company’s stock worth $27,071,000 after buying an additional 725,400 shares during the period. APG Asset Management N.V. acquired a new stake in shares of Cleveland-Cliffs during the fourth quarter worth $4,002,000. Finally, Bank of New York Mellon Corp increased its position in shares of Cleveland-Cliffs by 23.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,909,955 shares of the mining company’s stock worth $13,770,000 after buying an additional 367,940 shares during the period. Institutional investors own 60.68% of the company’s stock.
In other news, Director Susan Miranda Green sold 11,305 shares of the stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $7.62, for a total transaction of $86,144.10. Following the completion of the sale, the director now directly owns 60,367 shares in the company, valued at $459,996.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.89% of the company’s stock.
Cleveland-Cliffs Company Profile
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; and Koolyanobbing iron ore mining complex located in Western Australia. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific.
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