Cleveland-Cliffs (NYSE:CLF) posted its quarterly earnings results on Friday. The mining company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02), MarketWatch Earnings reports. The firm had revenue of $742.00 million for the quarter, compared to analysts’ expectations of $736.06 million. Cleveland-Cliffs had a net margin of 20.07% and a negative return on equity of 76.39%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS.
Shares of CLF opened at $11.05 on Friday. Cleveland-Cliffs has a 52 week low of $5.60 and a 52 week high of $13.10. The company has a current ratio of 3.26, a quick ratio of 2.72 and a debt-to-equity ratio of -7.50. The stock has a market capitalization of $3.42 billion, a PE ratio of 22.10 and a beta of 1.71.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, January 4th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.81%.
Several research firms have weighed in on CLF. Credit Suisse Group reiterated a “neutral” rating and set a $13.00 price target on shares of Cleveland-Cliffs in a research note on Monday, October 15th. Zacks Investment Research upgraded Cleveland-Cliffs from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Tuesday, October 9th. Citigroup boosted their price target on Cleveland-Cliffs from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, October 5th. B. Riley set a $15.00 price target on Cleveland-Cliffs and gave the company a “buy” rating in a research note on Wednesday, September 26th. Finally, ValuEngine upgraded Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $11.75.
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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