Zacks Research Predicts Lower Earnings for Cleveland-Cliffs

Key Points

• Zacks Research has revised its Q3 2025 earnings estimate for Cleveland-Cliffs, predicting a loss of $(0.48) per share, down from a previous estimate of $(0.36).
• The company reported a quarterly loss of $(0.50) EPS on revenues of $4.93 billion, surpassing expectations while revealing a negative net margin of 9.03%.
• Analyst ratings are mixed, with three firms giving a Buy rating and others issuing Hold or Sell ratings, reflecting diverse perspectives on the stock's potential.

Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) - Zacks Research lowered their Q3 2025 earnings estimates for Cleveland-Cliffs in a report issued on Thursday, October 9th. Zacks Research analyst Team now forecasts that the mining company will earn ($0.48) per share for the quarter, down from their previous estimate of ($0.36). The consensus estimate for Cleveland-Cliffs' current full-year earnings is ($0.79) per share. Zacks Research also issued estimates for Cleveland-Cliffs' Q4 2025 earnings at ($0.34) EPS, FY2025 earnings at ($2.24) EPS, Q1 2026 earnings at ($0.10) EPS, Q2 2026 earnings at $0.01 EPS, Q3 2026 earnings at ($0.14) EPS, Q4 2026 earnings at ($0.14) EPS, FY2026 earnings at ($0.38) EPS, Q3 2027 earnings at $0.04 EPS and FY2027 earnings at $0.15 EPS.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The mining company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.18. The business had revenue of $4.93 billion for the quarter, compared to analysts' expectations of $4.90 billion. Cleveland-Cliffs had a negative net margin of 9.03% and a negative return on equity of 17.97%. The business's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share.

Several other brokerages have also commented on CLF. Weiss Ratings reiterated a "sell (d)" rating on shares of Cleveland-Cliffs in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on shares of Cleveland-Cliffs from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Monday, September 15th. KeyCorp upgraded shares of Cleveland-Cliffs from a "sector weight" rating to an "overweight" rating and set a $14.00 price objective on the stock in a research report on Tuesday, July 22nd. Morgan Stanley raised their target price on Cleveland-Cliffs from $8.00 to $10.50 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Finally, The Goldman Sachs Group raised their target price on Cleveland-Cliffs from $12.85 to $14.50 and gave the company a "buy" rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Cleveland-Cliffs currently has an average rating of "Hold" and an average price target of $11.60.

Cleveland-Cliffs Stock Down 7.1%

Shares of NYSE:CLF opened at $13.19 on Monday. The firm's 50 day moving average price is $11.23 and its 200 day moving average price is $9.17. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of -3.87 and a beta of 1.96. Cleveland-Cliffs has a fifty-two week low of $5.63 and a fifty-two week high of $14.51. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.28.

Institutional Trading of Cleveland-Cliffs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLF. Twelve Points Wealth Management LLC grew its holdings in shares of Cleveland-Cliffs by 51.7% during the 1st quarter. Twelve Points Wealth Management LLC now owns 225,499 shares of the mining company's stock worth $1,854,000 after purchasing an additional 76,827 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Cleveland-Cliffs by 231.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,561,774 shares of the mining company's stock valued at $12,838,000 after purchasing an additional 1,090,237 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Cleveland-Cliffs during the 1st quarter valued at approximately $9,416,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Cleveland-Cliffs by 35.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 233,356 shares of the mining company's stock valued at $1,918,000 after acquiring an additional 60,714 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Cleveland-Cliffs during the 1st quarter valued at approximately $442,000. Hedge funds and other institutional investors own 67.68% of the company's stock.

About Cleveland-Cliffs

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. 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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