Q2 2026 Earnings Forecast for Cleveland-Cliffs Inc. Issued By Zacks Research (NYSE:CLF)

Cleveland-Cliffs Inc. (NYSE:CLF) – Research analysts at Zacks Research dropped their Q2 2026 EPS estimates for shares of Cleveland-Cliffs in a report issued on Monday, September 23rd. Zacks Research analyst A. Barman now expects that the mining company will post earnings per share of $0.41 for the quarter, down from their prior estimate of $0.53. The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.03) per share.

A number of other research analysts have also recently weighed in on CLF. JPMorgan Chase & Co. cut shares of Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $17.00 in a research note on Tuesday, June 11th. Bank of America cut their price target on Cleveland-Cliffs from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Citigroup cut their target price on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research note on Tuesday, September 10th. Finally, Morgan Stanley lowered their price target on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cleveland-Cliffs has an average rating of “Hold” and a consensus price target of $17.56.

Cleveland-Cliffs Price Performance

Cleveland-Cliffs stock opened at $12.72 on Wednesday. The firm has a market capitalization of $6.05 billion, a PE ratio of 17.18 and a beta of 1.97. Cleveland-Cliffs has a 52 week low of $10.21 and a 52 week high of $22.97. The firm’s 50-day simple moving average is $13.06 and its 200 day simple moving average is $16.31. The company has a quick ratio of 0.60, a current ratio of 1.87 and a debt-to-equity ratio of 0.48.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Monday, July 22nd. The mining company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Cleveland-Cliffs had a return on equity of 4.94% and a net margin of 0.21%. Cleveland-Cliffs’s revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share.

Hedge Funds Weigh In On Cleveland-Cliffs

A number of hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC raised its position in shares of Cleveland-Cliffs by 2,858.0% in the 1st quarter. Rise Advisors LLC now owns 1,479 shares of the mining company’s stock worth $34,000 after buying an additional 1,429 shares during the period. Altshuler Shaham Ltd acquired a new stake in Cleveland-Cliffs during the second quarter worth about $26,000. Hexagon Capital Partners LLC raised its holdings in shares of Cleveland-Cliffs by 41.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock worth $39,000 after purchasing an additional 500 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Cleveland-Cliffs by 247.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock worth $43,000 after purchasing an additional 1,343 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of Cleveland-Cliffs during the 1st quarter worth about $45,000. Institutional investors and hedge funds 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.