Cleveland-Cliffs (NYSE:CLF) Price Target Raised to $11.00

Cleveland-Cliffs (NYSE:CLF) had its target price upped by Wells Fargo & Company from $9.00 to $11.00 in a research report report published on Friday,Benzinga reports. They currently have an equal weight rating on the mining company’s stock.

Other equities analysts have also issued research reports about the company. Citigroup reaffirmed a “positive” rating on shares of Cleveland-Cliffs in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Cleveland-Cliffs from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Glj Research raised shares of Cleveland-Cliffs from a “sell” rating to a “hold” rating and lifted their target price for the company from $9.03 to $15.01 in a report on Tuesday, June 9th. Argus upgraded shares of Cleveland-Cliffs to a “hold” rating in a research note on Monday, April 6th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $10.00 price objective on shares of Cleveland-Cliffs in a research report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.86.

Cleveland-Cliffs Stock Up 0.0%

CLF stock opened at $11.94 on Friday. The stock has a market cap of $6.81 billion, a P/E ratio of -7.37 and a beta of 2.13. The company has a current ratio of 1.89, a quick ratio of 0.63 and a debt-to-equity ratio of 1.32. Cleveland-Cliffs has a twelve month low of $7.73 and a twelve month high of $16.70. The company’s 50 day moving average is $11.29 and its two-hundred day moving average is $11.01.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Thursday, July 23rd. The mining company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.01. Cleveland-Cliffs had a negative net margin of 4.56% and a negative return on equity of 13.37%. The business had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter in the prior year, the business posted ($0.50) EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Research analysts expect that Cleveland-Cliffs will post -0.15 earnings per share for the current fiscal year.

Insider Transactions at Cleveland-Cliffs

In other Cleveland-Cliffs news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the business’s 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 transaction, the executive vice president directly owned 184,542 shares of the company’s stock, valued at approximately $2,474,708.22. The trade was a 53.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Cleveland-Cliffs

A number of hedge funds have recently added to or reduced their stakes in CLF. Assenagon Asset Management S.A. lifted its holdings in Cleveland-Cliffs by 208.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 6,021,829 shares of the mining company’s stock valued at $56,545,000 after purchasing an additional 4,067,994 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Cleveland-Cliffs by 60.0% during the second quarter. GAMMA Investing LLC now owns 12,149 shares of the mining company’s stock valued at $114,000 after buying an additional 4,557 shares during the period. Moody National Bank Trust Division acquired a new stake in Cleveland-Cliffs during the second quarter worth approximately $545,000. Versant Capital Management Inc boosted its position in Cleveland-Cliffs by 24.3% during the second quarter. Versant Capital Management Inc now owns 8,243 shares of the mining company’s stock worth $77,000 after acquiring an additional 1,614 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in Cleveland-Cliffs by 25.2% in the 1st quarter. NewEdge Advisors LLC now owns 123,427 shares of the mining company’s stock worth $1,043,000 after acquiring an additional 24,868 shares during the period. Institutional investors and hedge funds own 67.68% of the company’s stock.

Trending Headlines about Cleveland-Cliffs

Here are the key news stories impacting Cleveland-Cliffs this week:

• Positive Sentiment: Cleveland-Cliffs posted Q2 results that beat expectations on both earnings and revenue, helped by stronger steel pricing that improved margins even as shipment volumes declined. CLF Q2 Earnings and Sales Beat Estimates on Higher Steel Pricing
• Positive Sentiment: The company reported a sharp jump in adjusted EBITDA, returned to positive free cash flow, and gave a notably optimistic outlook, with investors focusing on the prospect of stronger profitability ahead. Cleveland-Cliffs Inc (CLF) Q2 2026 Earnings Call Highlights: Strong EBITDA Growth and Positive …
• Positive Sentiment: Several analysts turned more constructive, including Glj Research upgrading the stock to buy and lifting its price target, which added to the bullish sentiment around the name. Cleveland-Cliffs upgraded by Glj Research
• Positive Sentiment: Trading activity was also supportive, with reports of unusual call-option buying and multiple articles highlighting CLF as a momentum stock with value appeal.
• Neutral Sentiment: Wells Fargo raised its price target but kept an “equal weight” rating, suggesting some upside remains but not a full endorsement of the rally. Wells Fargo price target raised on CLF
• Neutral Sentiment: The company also announced a leadership change, promoting CFO Celso Goncalves to President and CFO, which is more of a governance update than a direct earnings driver. Cleveland-Cliffs Announces Promotion of Chief Financial Officer
• Negative Sentiment: Not all analyst commentary was supportive: one report said brokerage consensus remains “Reduce,” and another noted Wells Fargo’s new target is still below the current share price, reflecting lingering skepticism about the stock’s valuation and durability of the rebound.

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.