Cleveland-Cliffs Inc. (NYSE:CLF) is reporting third quarter earnings results on Friday 23rd October 2020, before market open.
The consensus estimates from Thomson Reuters are loss of $ 0.1 per share.
For the full year, analysts predict revenues of $ 4884.12 million, while looking forward to loss of $ 0.25 per share.
Previous Quarter Performance
Cleveland-Cliffs Inc. posted loss for the second quarter of $ 0.31 per share, from the revenue of $ 1,093.00 million. The quarterly revenues extended 75.72 percent compared with the same quarter last year. Wall street analysts are predicting, CLF to report 2Q20 loss of $ 0.50 per share from revenue of $ 1077.18 million. The bottom line results beat street analysts by $ 0.19 or 38.00 percent, at the same time, top line results outshined analysts by $ 15.82 million or 1.47 percent.
Stock Performance
Shares of Cleveland-Cliffs Inc. traded up $ 0.28 or 3.50 percent on Thursday, reaching $ 8.27 with volume of 10.29 million shares. Cleveland-Cliffs Inc. has traded high as $ 8.36 and has cracked $ 7.92 on the downward trend
The closing price of $ 8.27, representing a 203.80 % increase from the 52 week low of $ 2.63 and a 11.42 % decrease over the 52 week high of $ 9.02.
The company has a market capital of $ 3.30 billion and is part of the Basic Materials sector and Industrial Metals & Minerals industry.
Recent Analyst recommendations
- On 16th September 2020, maintained by Credit Suisse Group at Neutral rating, with $ 5.25 target price.
Conference Call
Cleveland-Cliffs Inc. will be hosting a conference call at 10:00 AM eastern time on 23rd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.clevelandcliffs.com
Cleveland-Cliffs Inc. operates as an iron ore mining company in the United States, Canada, and internationally. The company operates four iron ore mines, including the Tilden mine in Michigan; and the Northshore, United Taconite, and Hibbing mines in Minnesota.
