Cleveland-Cliffs (CLF) Projected to Release Earnings on Thursday

Key Points

• Cleveland-Cliffs is expected to report Q2 2026 earnings before the market opens on Thursday, July 23, with analysts looking for a loss of $0.18 per share on revenue of $5.19 billion.
• The company’s last quarter showed better-than-expected results, with EPS of -$0.40 versus estimates of -$0.44 and revenue of $4.92 billion, which topped forecasts and rose 6.3% year over year.
• Wall Street remains cautious on the stock, with a consensus rating of “Reduce” and an average target price of $11.50; recent analyst targets have ranged from $9.00 to $12.50.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) is expected to issue its Q2 2026 results before the market opens on Thursday, July 23rd. Analysts expect Cleveland-Cliffs to post earnings of ($0.18) per share and revenue of $5.1855 billion for the quarter. Individuals can check the company's upcoming Q2 2026 earning results page for the latest details on the call scheduled for Thursday, July 23, 2026 at 8:30 AM ET.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last announced its earnings results on Monday, April 20th. The mining company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.04. Cleveland-Cliffs had a negative return on equity of 15.48% and a negative net margin of 6.42%.The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same period in the prior year, the company posted ($0.92) EPS. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts expect Cleveland-Cliffs to post $-0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cleveland-Cliffs Trading Up 0.8%

Cleveland-Cliffs stock opened at $9.87 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.64 and a current ratio of 2.02. The stock has a market cap of $5.63 billion, a PE ratio of -4.22 and a beta of 2.13. The stock has a 50-day moving average of $11.42 and a two-hundred day moving average of $11.19. Cleveland-Cliffs has a one year low of $7.73 and a one year high of $16.70.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Morgan Stanley restated an "equal weight" rating and set a $12.50 price objective (up from $12.00) on shares of Cleveland-Cliffs in a report on Monday, June 22nd. Barclays began coverage on shares of Cleveland-Cliffs in a research note on Thursday, May 21st. They issued an "underweight" rating and a $9.00 target price for the company. Bank of America dropped their target price on shares of Cleveland-Cliffs from $14.00 to $11.50 and set a "neutral" rating on the stock in a research report on Thursday, July 9th. Argus upgraded shares of Cleveland-Cliffs to a "hold" rating in a research note on Monday, April 6th. Finally, KeyCorp started coverage on shares of Cleveland-Cliffs in a report on Wednesday, March 25th. They issued a "sector weight" rating for the company. Nine equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $11.50.

Insider Activity at Cleveland-Cliffs

In other news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $13.41, for a total value of $2,873,870.28. Following the sale, the executive vice president owned 184,542 shares in the company, valued at $2,474,708.22. This represents a 53.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cleveland-Cliffs

Several hedge funds have recently added to or reduced their stakes in CLF. State Street Corp raised its stake in shares of Cleveland-Cliffs by 14.2% during the 4th quarter. State Street Corp now owns 29,278,156 shares of the mining company's stock valued at $388,814,000 after buying an additional 3,632,150 shares during the last quarter. Maple Rock Capital Partners Inc. boosted its stake in shares of Cleveland-Cliffs by 90.1% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 12,358,230 shares of the mining company's stock worth $164,117,000 after buying an additional 5,855,830 shares during the last quarter. Morgan Stanley boosted its stake in shares of Cleveland-Cliffs by 17.3% in the fourth quarter. Morgan Stanley now owns 7,862,669 shares of the mining company's stock worth $104,416,000 after buying an additional 1,157,775 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cleveland-Cliffs by 14.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,663,526 shares of the mining company's stock worth $101,772,000 after acquiring an additional 957,441 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Cleveland-Cliffs by 200.4% during the second quarter. BNP Paribas Financial Markets now owns 6,329,414 shares of the mining company's stock worth $48,104,000 after acquiring an additional 4,222,528 shares during the period. 67.68% of the stock is owned by hedge funds and other institutional investors.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company's integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.

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