Glj Research Upgrades Cleveland-Cliffs (NYSE:CLF) to "Buy"

Key Points

• Glj Research upgraded Cleveland-Cliffs from neutral to buy and raised its price target to $15.60 from $15.01, implying about 33.6% upside from the current price.
• Despite the upgrade, the broader analyst picture remains cautious: Cleveland-Cliffs still carries an overall Hold consensus, with 2 Buy, 7 Hold, and 2 Sell ratings and an average price target of $11.86.
• The company’s latest quarter showed some improvement, as EPS and revenue beat expectations and revenue rose 5.9% year over year, but Cleveland-Cliffs still posted a loss and remains unprofitable on a net basis.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) was upgraded by Glj Research from a "neutral" rating to a "buy" rating in a report issued on Friday,Benzinga reports. The firm presently has a $15.60 price objective on the mining company's stock, up from their prior price objective of $15.01. Glj Research's price target would suggest a potential upside of 33.57% from the company's current price.

Several other analysts also recently weighed in on the company. Bank of America decreased their target price on Cleveland-Cliffs from $14.00 to $11.50 and set a "neutral" rating for the company in a research note on Thursday, July 9th. Citigroup reissued a "positive" rating on shares of Cleveland-Cliffs in a research report on Friday. Argus raised shares of Cleveland-Cliffs to a "hold" rating in a research report on Monday, April 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cleveland-Cliffs in a research note on Tuesday. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $12.50 price target (up from $12.00) on shares of Cleveland-Cliffs in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Cleveland-Cliffs currently has an average rating of "Hold" and a consensus price target of $11.86.

Cleveland-Cliffs Stock Up 6.6%

Cleveland-Cliffs stock traded up $0.72 during trading hours on Friday, hitting $11.68. The company had a trading volume of 27,033,711 shares, compared to its average volume of 18,926,553. Cleveland-Cliffs has a fifty-two week low of $7.73 and a fifty-two week high of $16.70. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.02 and a quick ratio of 0.64. The firm has a market capitalization of $6.66 billion, a P/E ratio of -4.97 and a beta of 2.13. The firm's fifty day moving average is $11.26 and its 200-day moving average is $11.02.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The mining company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.01. Cleveland-Cliffs had a negative return on equity of 15.48% and a negative net margin of 6.42%.The firm had revenue of $5.23 billion during the quarter, compared to analysts' expectations of $5.15 billion. During the same quarter last year, the firm earned ($0.50) earnings per share. The business's revenue for the quarter was up 5.9% on a year-over-year basis. On average, research analysts forecast that Cleveland-Cliffs will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the company's stock in a transaction dated 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 sale, the executive vice president owned 184,542 shares of the company's stock, valued at $2,474,708.22. The trade was a 53.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cleveland-Cliffs

Institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new position in shares of Cleveland-Cliffs during the 4th quarter worth approximately $25,000. Center for Financial Planning Inc. lifted its holdings in shares of Cleveland-Cliffs by 119.0% during the first quarter. Center for Financial Planning Inc. now owns 3,322 shares of the mining company's stock valued at $28,000 after acquiring an additional 1,805 shares during the period. IFP Advisors Inc lifted its holdings in shares of Cleveland-Cliffs by 117.5% during the fourth quarter. IFP Advisors Inc now owns 2,221 shares of the mining company's stock valued at $29,000 after acquiring an additional 1,200 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Cleveland-Cliffs by 94.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,505 shares of the mining company's stock valued at $33,000 after purchasing an additional 1,214 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Cleveland-Cliffs by 306.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,461 shares of the mining company's stock worth $33,000 after purchasing an additional 1,855 shares during the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Cleveland-Cliffs

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

• Positive Sentiment: Cleveland-Cliffs reported Q2 results that beat expectations on both earnings and revenue, with revenue of about $5.23 billion and a smaller loss than a year ago, signaling improving operating performance. Article Cleveland-Cliffs Reports Second-Quarter 2026 Results
• Positive Sentiment: Management highlighted a sharp rebound in profitability, including a significant increase in adjusted EBITDA and a return to positive free cash flow, which suggests the turnaround is gaining traction. Article Cleveland-Cliffs Inc (CLF) Q2 2026 Earnings Call Highlights
• Positive Sentiment: The company issued a stronger third-quarter outlook, and CEO Lourenco Goncalves said the “progression we have been forecasting is now reality,” fueling investor optimism about further improvement. Article CLF Stock Posts Biggest Gain Of 2026 After CEO Forecasts Strongest Second-Half Performance Since 2021
• Positive Sentiment: Wells Fargo raised its price target on CLF to $11 from $9, and B. Riley Securities also issued a Buy rating, adding support from the analyst side. Article Wells Fargo price target raise
• Neutral Sentiment: Some brokerage coverage remains cautious overall, with consensus ratings still pointing to “Reduce,” which may limit upside enthusiasm. Article Cleveland-Cliffs Inc. Given Consensus Rating of Reduce by Brokerages
• Neutral Sentiment: The stock has also been highlighted as a “fast-paced momentum at a bargain” candidate, reflecting a mix of improving momentum and still-reasonable valuation. Article Why Fast-paced Mover Cleveland-Cliffs (CLF) Is a Great Choice for Value Investors
• Negative Sentiment: Despite the beat, CLF still posted a quarterly loss and remains unprofitable on a net basis, so investors may continue to question the durability of the turnaround. Article Cleveland-Cliffs Reports Second-Quarter 2026 Results

About Cleveland-Cliffs

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.