Cleveland-Cliffs Stock Forecast, Price & News

Cleveland-Cliffs' stock was trading at $4.49 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization (WHO). Since then, CLF stock has increased by 84.2% and is now trading at $8.27.
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7 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cleveland-Cliffs in the last year. There are currently 5 hold ratings, 1 buy rating and 1 strong buy rating for the stock, resulting in a consensus recommendation of "Hold."
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Cleveland-Cliffs is scheduled to release its next quarterly earnings announcement on Friday, October 23rd 2020.
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Cleveland-Cliffs Inc (NYSE:CLF) announced its quarterly earnings results on Thursday, July, 30th. The mining company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.51) by $0.20. The mining company earned $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. Cleveland-Cliffs had a negative net margin of 0.86% and a positive return on equity of 6.53%.
View Cleveland-Cliffs' earnings history.

Cleveland-Cliffs declared a quarterly dividend on Tuesday, February 18th. Shareholders of record on Friday, April 3rd will be paid a dividend of $0.06 per share on Wednesday, April 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, April 2nd.
View Cleveland-Cliffs' dividend history.

Cleveland-Cliffs announced that its board has approved a share buyback program on Monday, November 26th 2018, which authorizes the company to buyback $200,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to buy up to 7.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

7 equities research analysts have issued 1 year price objectives for Cleveland-Cliffs' shares. Their forecasts range from $4.00 to $10.00. On average, they anticipate Cleveland-Cliffs' share price to reach $6.88 in the next year. This suggests that the stock has a possible downside of 16.9%.
View analysts' price targets for Cleveland-Cliffs.

Cleveland-Cliffs saw a drop in short interest in the month of September. As of September 15th, there was short interest totaling 78,950,000 shares, a drop of 12.6% from the August 31st total of 90,310,000 shares. Based on an average trading volume of 9,340,000 shares, the days-to-cover ratio is presently 8.5 days.
View Cleveland-Cliffs' Short Interest.

Some companies that are related to Cleveland-Cliffs include Nucor (NUE), Reliance Steel & Aluminum (RS), Steel Dynamics (STLD), Worthington Industries (WOR), Commercial Metals (CMC), United States Steel (X), Allegheny Technologies (ATI), Carpenter Technology (CRS), Schnitzer Steel Industries (SCHN), Haynes International (HAYN), Olympic Steel (ZEUS) and Universal Stainless & Alloy Products (USAP).
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Based on aggregate information from My MarketBeat watchlists, some companies that other Cleveland-Cliffs investors own include Freeport-McMoRan (FCX), Bank of America (BAC), Rite Aid (RAD), Advanced Micro Devices (AMD), Micron Technology (MU), General Electric (GE), AT&T (T), Ford Motor (F), Cisco Systems (CSCO) and Intel (INTC).

Cleveland-Cliffs trades on the New York Stock Exchange (NYSE) under the ticker symbol "CLF."

Cleveland-Cliffs' stock is owned by a number of institutional and retail investors. Top institutional shareholders include Hodges Capital Management Inc. (0.21%), State of Alaska Department of Revenue (0.09%), First Dallas Securities Inc. (0.07%), Louisiana State Employees Retirement System (0.05%), Envestnet Asset Management Inc. (0.03%) and Avantax Advisory Services Inc. (0.03%). Company insiders that own Cleveland-Cliffs stock include Eric M Rychel, John T Baldwin, Keith Koci, Lourenco Goncalves, M Ann Harlan, Michael D Siegal, Robert P Fisher Jr and Susan Miranda Green.
View institutional ownership trends for Cleveland-Cliffs.

CLF stock was sold by a variety of institutional investors in the last quarter, including Hodges Capital Management Inc., Envestnet Asset Management Inc., Venture Visionary Partners LLC, and State of Alaska Department of Revenue.
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CLF stock was bought by a variety of institutional investors in the last quarter, including First Dallas Securities Inc., Avantax Advisory Services Inc., Louisiana State Employees Retirement System, First Hawaiian Bank, KG&L Capital Management LLC, Crumly & Associates Inc., Cooper Financial Group, and Nisa Investment Advisors LLC. Company insiders that have bought Cleveland-Cliffs stock in the last two years include Eric M Rychel, John T Baldwin, Keith Koci, Lourenco Goncalves, M Ann Harlan, Michael D Siegal, and Robert P Fisher Jr.
View insider buying and selling activity for Cleveland-Cliffs.

Shares of CLF can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

One share of CLF stock can currently be purchased for approximately $8.27.

Cleveland-Cliffs has a market capitalization of $3.30 billion and generates $1.99 billion in revenue each year. The mining company earns $292.80 million in net income (profit) each year or $1.12 on an earnings per share basis. Cleveland-Cliffs employs 2,372 workers across the globe.

The official website for Cleveland-Cliffs is www.clevelandcliffs.com.

Cleveland-Cliffs' mailing address is 200 PUBLIC SQUARE SUITE 3300, CLEVELAND OH, 44114. The mining company can be reached via phone at 216-694-5700 or via email at [email protected]