Cleveland-Cliffs Inc. (NYSE:CLF) Stock Has Average Target Price of $12.45

Key Points

• Analysts hold a neutral view: Cleveland-Cliffs has a consensus “Hold” rating from 11 firms, with an average 12-month price target of $12.45. Ratings range from two sells and six holds to three buys, though Wells Fargo recently upgraded the stock to “Overweight” with a $14 target.
• Recent results slightly exceeded expectations: The company reported a quarterly loss of $0.20 per share versus the expected $0.21 loss, while revenue reached $5.23 billion, up 5.9% year over year. Shares opened at $12.26, within a 12-month range of $7.73 to $16.70.
• Investor sentiment includes both catalysts and risks: A broader metals-sector rebound, analyst target increases and Cleveland-Cliffs’ $200 million electrical-steel expansion are supporting the stock. However, the company faces regulatory and labor pressure in Canada over preserving jobs at its Stelco operations.

Cleveland-Cliffs Inc. (NYSE:CLF - Get Free Report) has earned a consensus recommendation of "Hold" from the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $12.45.

CLF has been the subject of a number of research reports. Barclays upped their target price on shares of Cleveland-Cliffs from $9.00 to $10.00 and gave the stock an "underweight" rating in a report on Friday, July 24th. Bank of America lowered their price target on shares of Cleveland-Cliffs from $14.00 to $11.50 and set a "neutral" rating on the stock in a research report on Thursday, July 9th. Citigroup reaffirmed a "positive" rating on shares of Cleveland-Cliffs in a research note on Friday, July 24th. Morgan Stanley reiterated an "equal weight" rating and issued a $12.50 price objective (up from $12.00) on shares of Cleveland-Cliffs in a report on Monday, June 22nd. Finally, Wells Fargo & Company raised shares of Cleveland-Cliffs from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $12.00 to $14.00 in a research note on Tuesday.

Cleveland-Cliffs Price Performance

Shares of Cleveland-Cliffs stock opened at $12.26 on Wednesday. The stock has a market capitalization of $7.00 billion, a P/E ratio of -7.57 and a beta of 2.09. The business has a 50 day simple moving average of $11.92 and a two-hundred day simple moving average of $11.01. Cleveland-Cliffs has a 12 month low of $7.73 and a 12 month high of $16.70. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.89 and a quick ratio of 0.63.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The mining company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.01. The firm had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.15 billion. Cleveland-Cliffs had a negative return on equity of 13.37% and a negative net margin of 4.56%.The business's revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.50) earnings per share. As a group, analysts predict that Cleveland-Cliffs will post -0.04 EPS for the current fiscal year.

Cleveland-Cliffs News Roundup

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

• Positive Sentiment: Wells Fargo upgraded Cleveland-Cliffs to Overweight from Equal Weight and set a $14 price target. The firm sees potential for near-term earnings to exceed expectations and believes the market may be underestimating Cleveland-Cliffs’ earnings potential in 2027. Wells Fargo also characterized concerns about the company’s planned Iowa steel mill as a potential buying opportunity, despite the risk of additional industry supply. Wells Fargo upgrades Cleveland-Cliffs to $14 on hidden 2027 upside
• Positive Sentiment: JPMorgan raised its price target for Cleveland-Cliffs to $13. The target increase adds to the improving analyst sentiment and supports the recent share-price momentum. JPMorgan raises target for Cleveland-Cliffs stock
• Positive Sentiment: A broader metals-sector rebound has lifted Cleveland-Cliffs and other U.S. steelmakers. The rally is also helping the stock recover from weakness following the company’s late-September Stelco-related announcement. Cleveland-Cliffs rises amid broader metals rebound
• Positive Sentiment: Cleveland-Cliffs is showcasing its $200 million Grain Oriented Electrical Steel expansion at Butler Works to senior U.S. energy and Commerce officials. The event highlights investment in a strategic steel product used in electrical equipment and could reinforce the company’s domestic manufacturing and government-support narrative. Cleveland-Cliffs GOES expansion event
• Negative Sentiment: Canadian officials are demanding that Cleveland-Cliffs provide a plan to preserve steel jobs at Stelco’s Hamilton operations or potentially face legal action. The dispute creates regulatory, labor and execution risks, although the market impact appears to have eased as attention shifts toward earnings and the broader steel recovery. Ottawa asks Cleveland-Cliffs for steel job plan

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLF. BlackRock Inc. purchased a new stake in shares of Cleveland-Cliffs in the second quarter valued at about $522,766,000. Castle Hook Partners LP raised its stake in Cleveland-Cliffs by 572.4% during the fourth quarter. Castle Hook Partners LP now owns 18,083,029 shares of the mining company's stock worth $240,143,000 after purchasing an additional 15,393,507 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Cleveland-Cliffs by 6.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 15,489,207 shares of the mining company's stock valued at $130,873,000 after purchasing an additional 925,031 shares during the last quarter. Turiya Advisors Asia Ltd acquired a new position in Cleveland-Cliffs in the 4th quarter valued at about $96,280,000. Finally, PointState Capital LP purchased a new stake in shares of Cleveland-Cliffs in the 2nd quarter valued at approximately $61,805,000. Hedge funds and other institutional investors own 67.68% of the company's stock.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is an integrated steel producer headquartered in Cleveland, Ohio. The company operates across the steelmaking value chain, including the mining and processing of iron ore, production of iron ore pellets, and manufacturing of finished steel products.

Cleveland-Cliffs primarily produces flat-rolled carbon steel, including hot-rolled, cold-rolled and galvanized products, as well as coated and specialty steel. Its products are used in automotive manufacturing, construction, infrastructure, appliances, machinery and other industrial applications.

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